Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities

v3.7.0.1
Marketable Securities
3 Months Ended
Mar. 31, 2017
Investments Debt And Equity Securities [Abstract]  
Marketable Securities

NOTE 3—MARKETABLE SECURITIES

Sangamo classifies its marketable securities as available-for-sale and records its investments at estimated fair value based on quoted market prices or observable market inputs of substantially identical assets. Unrealized holding gains and losses are included in accumulated other comprehensive income (loss). Investments that have maturities beyond one year as of the end of the reporting period are classified as non-current.

The Company’s investments are subject to a periodic impairment review.  The Company recognizes an impairment charge when a decline in the fair value of its investments below the cost basis is judged to be other-than-temporary. The Company considers various factors in determining whether to recognize an impairment charge, including the length of time and extent to which the fair value has been less than the Company’s cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market value.  Realized gains and losses on available-for-sale securities are included in other income, which is determined using the specific identification method

The table below summarizes the Company’s investments (in thousands):

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Estimated

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Fair Value

 

March 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

10,632

 

 

$

 

 

$

 

 

$

10,632

 

Total

 

 

10,632

 

 

 

 

 

 

 

 

 

10,632

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper securities

 

 

24,397

 

 

 

1

 

 

 

(4

)

 

 

24,394

 

Corporate debt securities

 

 

6,001

 

 

 

 

 

 

 

 

 

6,001

 

U.S. government sponsored entity debt securities

 

 

83,439

 

 

 

 

 

 

(59

)

 

 

83,380

 

Total

 

 

113,837

 

 

 

1

 

 

 

(63

)

 

 

113,775

 

Total cash equivalents and available-for-sale securities

 

$

124,469

 

 

$

1

 

 

$

(63

)

 

$

124,407

 

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

18,992

 

 

$

 

 

$

 

 

$

18,992

 

Total

 

 

18,992

 

 

 

 

 

 

 

 

 

18,992

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper securities

 

 

23,112

 

 

 

73

 

 

 

 

 

 

23,185

 

Corporate debt securities

 

 

10,005

 

 

 

 

 

 

(1

)

 

 

10,004

 

U.S. government sponsored entity debt securities

 

 

87,307

 

 

 

3

 

 

 

(25

)

 

 

87,285

 

Total

 

 

120,424

 

 

 

76

 

 

 

(26

)

 

 

120,474

 

Total cash equivalents and available-for-sale securities

 

$

139,416

 

 

$

76

 

 

$

(26

)

 

$

139,466

 

 

The Company had no other-than-temporary impairments of its investments for the three months ended March 31, 2017 or the twelve months ended December 31, 2016. As of March 31, 2017 and December 31, 2016, all of the Company’s investments had maturity dates within two years. The Company had no material realized losses or other-than-temporary impairments of available-for-sale securities as of the three months ended March 31, 2017. Sangamo has the intent and ability to hold its investments for a period of time sufficient to allow for any anticipated recovery in market value.