Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments (Tables)

v3.7.0.1
Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Available-for-sale Securities [Table Text Block]
The composition of financial instruments is as follows:
 
March 31, 2017
Amortized
Cost
 
Gross Unrealized
 
Fair
Value
Gains
 
Losses
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
Money market funds
$
8,640

 
$
—

 
$
—

 
$
8,640

Government debt securities
26,016

 


 
(35
)
 
25,981

Corporate debt securities
37,676

 
—

 
(20
)
 
37,656

 
72,332

 
—

 
(55
)
 
72,277

Less amounts included in cash and cash equivalents
(8,640
)
 
—

 
—

 
(8,640
)
 
$
63,692

 
$
—

 
$
(55
)
 
$
63,637

 
December 31, 2016
Amortized
Cost
 
Gross Unrealized
 
Fair
Value
Gains
 
Losses
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
Money market funds
$
39,181

 
$
—

 
$
—

 
$
39,181

Government debt securities
28,025

 
—

 
(32
)
 
27,993

Corporate debt securities
25,923

 
—

 
(7
)
 
25,916

 
93,129

 
—

 
(39
)
 
93,090

Less amounts included in cash and cash equivalents
(39,181
)
 
—

 
—

 
(39,181
)
 
$
53,948

 
$
—

 
$
(39
)
 
$
53,909


 
Fair Value at December 31, 2016
 
(in thousands)
Liabilities
 
Contingent consideration
$
375

Total
$
375

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents a summary of the Company’s financial instruments that are measured on a recurring basis:
 
 
 
Fair Value Measurements at March 31, 2017
 
Balance at March 31, 2017
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
(in thousands)
Assets
 
 
 
 
 
 
 
Money market funds
$
8,640

 
$
8,640

 
$
—

 
$
—

Government debt securities
25,981

 
—

 
25,981

 
—

Corporate debt securities
37,656

 
—

 
37,656

 
—

 
$
72,277

 
$
8,640

 
$
63,637

 
$
—

 
 
 
Fair Value Measurements at December 31, 2016
 
Balance at December 31, 2016
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
(in thousands)
Assets
 
 
 
 
 
 
 
Money market funds
$
39,181

 
$
39,181

 
$
—

 
$
—

Government debt securities
27,993

 
—

 
27,993

 
—

Corporate debt securities
25,916

 
—

 
25,916

 
—

 
$
93,090

 
$
39,181

 
$
53,909

 
$
—

Liabilities
 
 
 
 
 
 
 
Contingent consideration
$
375

 
$
—

 
$
—

 
$
375

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following summarizes the activity in Level 3 financial instruments:
 
Three Months Ended March 31,
 
2017
 
2016
 
(in thousands)
Contingent Consideration (1)
 
 
 
Beginning balance
$
375

 
$
395

Physpeed earn-out payment
(375
)
 
(240
)
Loss recognized in net income(2)
—

 
86

Ending balance
$
—

 
$
241

Net loss for the period included in net income attributable to contingent consideration held at the end of the period
$
—

 
$
(86
)