Annual report pursuant to Section 13 and 15(d)

Marketable Securities

Marketable Securities

12 Months Ended

Dec. 31, 2015

Cash and Cash Equivalents [Abstract]

3. Marketable Securities

Marketable available-for-sale securities as of December 31, 2015 and 2014 consist of the following (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
As of December 31, 2015:
Government debt securities	$	1,509	$	—	$	(2	)	$	1,507
Corporate debt securities		27,663		—	$	(17	)		27,646
Asset-backed securities		4,623		—		(2	)		4,621

	$	33,795	$	—	$	(21	)	$	33,774


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
As of December 31, 2014:
Corporate debt securities	$	19,706	$	1	$	(14	)	$	19,693
Asset-backed securities		3,516		—		—			3,516

	$	23,222	$	1	$	(14	)	$	23,209

As of December 31, 2015 and 2014, the Company’s government and corporate debt marketable securities had contractual maturities of less than one year and asset-backed securities had contractual maturities between 2-5 years. Realized gains and losses were immaterial for the years ended December 31, 2015 and 2014. None of these investments have been in a continuous unrealized loss position for more than 12 months as of December 31, 2015 and 2014.