FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of cash equivalents, restricted cash and marketable securities by security type

Cash equivalents, restricted cash and marketable securities by security type at September 30, 2015 were as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
(In thousands)	Cost		Gains		Losses			Fair Value
Included in cash and cash equivalents:
Money market funds	$	13,190	$	—	$	—		$	13,190
Corporate notes	1,507		—		—			1,507

	$	14,697	$	—	$	—		$	14,697

Restricted cash:
Certificate of deposit	$	266	$	—	$	—		$	266

Marketable securities:
Government-sponsored enterprise securities (due in 1 to 2 years)	$	6,921	$	1	$	—		$	6,922
Commercial paper (due in less than 1 year)	22,238		12		—			22,250
Corporate notes (due in less than 1 year)	80,634		7		(34		)	80,607
Corporate notes (due in 1 to 2 years)	24,942		4		(47		)	24,899

	$	134,735	$	24	$	(81	)	$	134,678

Cash equivalents, restricted cash and marketable securities by security type at December 31, 2014 were as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
(In thousands)	Cost		Gains		Losses			Fair Value
Included in cash and cash equivalents:
Money market funds	$	40,342	$	—	$	—		$	40,342

Restricted cash:
Certificate of deposit	$	266	$	—	$	—		$	266

Marketable securities:
Government-sponsored enterprise securities (due in less than 1 year)	$	401	$	—	$	(1	)	$	400
Government-sponsored enterprise securities (due in 1 to 2 years)	6,556		—		(7		)	6,549
Commercial paper (due in less than 1 year)	10,985		14		—			10,999
Corporate notes (due in less than 1 year)	97,307		2		(63		)	97,246
Corporate notes (due in l to 2 years)	12,412		—		(29		)	12,383

	$	127,661	$	16	$	(100	)	$	127,577

Schedule of marketable securities with unrealized losses

	Less Than 12 Months					12 Months or Greater					Total
			Gross					Gross					Gross
	Estimated		Unrealized			Estimated		Unrealized			Estimated		Unrealized
(In thousands)	Fair Value		Losses			Fair Value		Losses			Fair Value		Losses
As of September 30, 2015:
Corporate notes (due in less than 1 year)	$	57,459	$	(33	)	$	2,557	$	(1	)	$	60,016	$	(34	)
Corporate notes (due in 1 to 2 years)	19,876		(47		)	—		—			19,876		(47		)

	$	77,335	$	(80	)	$	2,557	$	(1	)	$	79,892	$	(81	)

As of December 31, 2014:
Government-sponsored enterprise securities (due in less than 1 year)	$	400	$	(1	)	$	—	$	—		$	400	$	(1	)
Government-sponsored enterprise securities (due in 1 to 2 years)	5,549		(7		)	—		—			5,549		(7		)
Corporate notes (due in less than 1 year)	92,989		(63		)	—		—			92,989		(63		)
Corporate notes (due in 1 to 2 years)	12,383		(29		)	—		—			12,383		(29		)

	$	111,321	$	(100	)	$	—	$	—		$	111,321	$	(100	)

Schedule of financial instruments measured at fair value on recurring basis

The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of September 30, 2015 and indicates the fair value category assigned.

	Fair Value Measurements at Reporting Date Using
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable
	Assets		Inputs		Inputs
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds(1)	$	13,190	$	—	$	—	$	13,190
Government-sponsored enterprise securities(3)	—		6,922		—		6,922
Commercial paper(2)	—		22,250		—		22,250
Corporate notes(1)(2)(3)	—		107,013		—		107,013

Total	$	13,190	$	136,185	$	—	$	149,375

The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of December 31, 2014 and indicates the fair value category assigned.

	Fair Value Measurements at Reporting Date Using
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable
	Assets / Liabilities		Inputs		Inputs
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds(1)	$	40,342	$	—	$	—	$	40,342
Government-sponsored enterprise securities(2)(3)	—		6,949		—		6,949
Commercial paper(2)	—		10,999		—		10,999
Corporate notes(2)(3)	—		109,629		—		109,629

Total	$	40,342	$	127,577	$	—	$	167,919


Liabilities:
Derivatives(4)	$	—	$	—	$	16	$	16

(1)

Included in cash and cash equivalents on our condensed balance sheets.

(2)

Included in current portion of marketable securities on our condensed balance sheets.

(3)

Included in noncurrent portion of marketable securities on our condensed balance sheets.

(4)

Included in fair value of derivatives on our condensed balance sheets

Schedule of rollforward of the balance sheet amounts for financial instruments in Level 3 category

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

Nine Months Ended September 30, 2015

Change in

Unrealized Gain

Total

Related to

Unrealized

Transfers

Financial

Fair Value at

Gain

Purchases

In and/or

Fair Value at

Instruments

December 31,

Included in

and

Sales and

Out of

September 30,

Held at

(In thousands)

2014

Earnings(1)

Issuances

Settlements

Level 3

2015

September 30, 2015

Derivative liabilities

(16

)

—

(1) Reported as unrealized gain on derivatives in our condensed statements of operations.