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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value Measurement
The following tables represent the financial instruments measured at fair value on a recurring basis on the financial statements of the Company and the valuation approach applied to each class of financial instruments at December 31, 2016, and 2015 (see Note 2, Summary of Significant Accounting Policies for further information):

 
December 31, 2016
 
(in thousands)
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Assets:
 
 
 
 
Cash and cash equivalents:
 
 
 
 
Money market funds
$
10,970

$

$

$
10,970

Investments:
 
 
 
 
Certificates of deposit

7,257


7,257

US Treasury securities
8,544



8,544

US Agency securities

4,501


4,501

Asset-backed securities

5,557


5,557

Corporate notes and bonds

32,660


32,660

Total investments
8,544

49,975


58,519

Total assets measured at fair value
$
19,514

$
49,975

$

$
69,489


 
December 31, 2015
 
(in thousands)
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Assets:
 
 
 
 
Cash and cash equivalents:
 
 
 
 
Money market funds
$
5,221

$

$

$
5,221

Investments:
 
 
 
 
Asset-backed securities

2,507


2,507

Corporate notes and bonds

9,332


9,332

Total investments

11,839


11,839

Total assets measured at fair value
$
5,221

$
11,839

$

$
17,060