Fair Value Measurements

6 Months Ended

Jun. 30, 2018

5. Fair Value Measurements

Assets measured at fair value on a recurring basis as of June 30, 2018 and December 31, 2017 were as follows (in thousands):


			Active		Observable		Unobservable
			Markets		Inputs		Inputs
Description	June 30, 2018		(Level 1)		(Level 2)		(Level 3)
Cash equivalents:
Money market funds	$	46,386	$	46,386	$	—	$	—
Overnight repurchase agreements		68,000		—		68,000		—
Marketable securities:
U.S. treasury obligations		9,980		9,980		—		—
	$	124,366	$	56,366	$	68,000	$	—


			Active		Observable		Unobservable
			Markets		Inputs		Inputs
Description	December 31, 2017		(Level 1)		(Level 2)		(Level 3)
Cash equivalents:
Money market funds	$	17,205	$	17,205	$	—	$	—
Overnight repurchase agreements		15,000		—		15,000		—
Marketable securities:
U.S. treasury obligations		39,844		39,844		—		—
	$	72,049	$	57,049	$	15,000	$	—