Fair Value Measurements

12 Months Ended

Dec. 31, 2016

4. Fair Value Measurements

Assets and liabilities measured at fair value on a recurring basis are as follows (in thousands):


			Active		Observable		Unobservable
			Markets		Inputs		Inputs
Description	December 31, 2016		(Level 1)		(Level 2)		(Level 3)
Cash equivalents:
Money market funds, included in cash equivalents	$	58,588	$	58,588	$	—	$	—
Marketable securities:
U.S treasury obligations		25,005		25,005		—		—
	$	83,593	$	83,593	$	—	$	—


			Active		Observable		Unobservable
			Markets		Inputs		Inputs
Description	December 31, 2015		(Level 1)		(Level 2)		(Level 3)
Money market funds, included in cash equivalents	$	35,909	$	35,909	$	—	$	—