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CASH EQUIVALENTS AND INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2017
Investments, All Other Investments [Abstract]  
Schedule of amortized cost, gross unrealized gains and losses and fair value of marketable debt and equity securities and investments
The amortized cost, gross unrealized gains and losses and fair value of the Company's cash equivalents and investments at December 31, 2017 and 2016 were comprised of the following (in thousands):
 
December 31, 2017
 
Amortized
cost
 
Unrealized
gains
 
Unrealized
losses
 
Fair
value
Cash equivalents
$
1,254

 
$
—

 
$
—

 
$
1,254

 
 
 
 
 
 
 
 
Short-term investments
 
 
 
 
 
 
 
U.S. government agency notes
$
4,091

 
$
—

 
$
(19
)
 
$
4,072

Corporate debt securities
8,048

 
—

 
(31
)
 
8,017

Certificates of deposit
5,135

 
—

 
—

 
5,135

 
$
17,274

 
$
—

 
$
(50
)
 
$
17,224

Investments
 
 
 
 
 
 
 
U.S. government agency notes
$
3,992

 
$
—

 
$
(28
)
 
$
3,964

Corporate debt securities
3,908

 
—

 
(24
)
 
3,884

Certificates of deposit
1,183

 
—

 
—

 
1,183

 
$
9,083

 
$
—

 
$
(52
)
 
$
9,031



 
December 31, 2016
 
Amortized
cost
 
Unrealized
gains
 
Unrealized
losses
 
Fair
value
Cash equivalents
$
6,619

 
$
—

 
$
—

 
$
6,619

 
 
 
 
 
 
 
 
Short-term investments
 
 
 
 
 
 
 
Municipal obligations
$
3,264

 
$
—

 
$
(3
)
 
$
3,261

U.S. government agency notes
16,477

 
3

 
(3
)
 
16,477

Corporate debt securities
41,893

 
4

 
(45
)
 
41,852

Certificates of deposit
246

 
—

 
—

 
246

 
$
61,880

 
$
7

 
$
(51
)
 
$
61,836

Investments
 
 
 
 
 
 
 
U.S. government agency notes
$
19,473

 
$
3

 
$
(39
)
 
$
19,437

Corporate debt securities
10,520

 
—

 
(44
)
 
10,476

Certificates of deposit
2,458

 
—

 
—

 
2,458

 
$
32,451

 
$
3

 
$
(83
)
 
$
32,371
Schedule of fair value of financial assets
The following table shows the fair value of the Company's financial assets at December 31, 2017 and 2016. These financial assets are comprised of the Company's available-for-sale debt securities and reported under the captions Cash and cash equivalents, Short-term investments and Investments in the consolidated balance sheets (in thousands):

 
 
 
Fair value measurements at
December 31, 2017 using:
 
Total carrying
value at
December 31,
2017
 
Quoted prices
in active
markets
(Level 1)
 
Significant other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
Cash equivalents
$
1,254

 
$
1,254

 
$
—

 
$
—

 
 
 
 
 
 
 
 
Short-term investments
 
 
 
 
 
 
 
U.S. government agency notes
$
4,072

 
$
—

 
$
4,072

 
$
—

Corporate debt securities
8,017

 
—

 
8,017

 
—

Certificates of deposit
5,135

 
—

 
5,135

 
—

 
$
17,224

 
$
—

 
$
17,224

 
$
—

Investments
 
 
 
 
 
 
 
U.S. government agency notes
$
3,964

 
$
—

 
$
3,964

 
$
—

Corporate debt securities
3,884

 
—

 
3,884

 
—

Certificates of deposit
1,183

 
—

 
1,183

 
—

 
$
9,031

 
$
—

 
$
9,031

 
$
—



 
 
 
Fair value measurements at
December 31, 2016 using:
 
Total carrying
value at
December 31,
2016
 
Quoted prices
in active
markets
(Level 1)
 
Significant other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
Cash equivalents
$
6,619

 
$
6,619

 
$
—

 
$
—

 
 
 
 
 
 
 
 
Short-term investments
 
 
 
 
 
 
 
Municipal obligations
$
3,261

 
$
—

 
$
3,261

 
$
—

U.S. government agency notes
16,477

 
—

 
16,477

 
—

Corporate debt securities
41,852

 
—

 
41,852

 
—

Certificates of deposit
246

 
—

 
246

 
—

 
$
61,836

 
$
—

 
$
61,836

 
$
—

Investments
 
 
 
 
 
 
 
U.S. government agency notes
$
19,437

 
$
—

 
$
19,437

 
$
—

Corporate debt securities
10,476

 
—

 
10,476

 
—

Certificates of deposit
2,458

 
—

 
2,458

 
—

 
$
32,371

 
$
—

 
$
32,371

 
$
—