Fair Value Measurements

9 Months Ended

Sep. 30, 2018

5. Fair Value Measurements

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


			Active		Observable		Unobservable
			Markets		Inputs		Inputs
Description	September 30, 2018		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents:
Cash and money market funds	$	20,524	$	20,524	$	—	$	—
Overnight repurchase agreements		23,000		—		23,000		—
Marketable securities:
U.S. treasury obligations		69,707		69,707		—		—
	$	113,231	$	90,231	$	23,000	$	—


			Active		Observable		Unobservable
			Markets		Inputs		Inputs
Description	December 31, 2017		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents:
Cash and 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	$	—