Annual report pursuant to Section 13 and 15(d)

Marketable Securities

Marketable Securities

12 Months Ended

Dec. 31, 2016

Cash and Cash Equivalents [Abstract]

3. Marketable Securities

Marketable available-for-sale securities as of December 31, 2016 and 2015 consist of the following (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
As of December 31, 2016:
Short-term investments:
Commercial paper	$	4,295	$	—	$	—		$	4,295
Corporate debt securities		2,205		—		(1	)		2,204

	$	6,500	$	—	$	(1	)	$	6,499


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
As of December 31, 2015:
Short-term investments:
Commercial paper	$	5,992	$	—	$	—		$	5,992
Government debt securities		1,509		—		(2	)		1,507
Corporate debt securities		21,671		—		(17	)		21,654
Asset-backed securities		4,623		—		(2	)		4,621

	$	33,795	$	—	$	(21	)	$	33,774

As of December 31, 2016 and 2015, the remaining contractual maturities of the Company’s commercial paper, corporate debt securities, and government debt securities were between 1-2 years and asset-backed securities had contractual maturities between 2-5 years. Realized gains and losses were immaterial for the years ended December 31, 2016 and 2015. None of these investments have been in a continuous unrealized loss position for more than 12 months as of December 31, 2016 and 2015.