Molecular Templates, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities and Fair Value (Tables)

Marketable Securities and Fair Value (Tables)

3 Months Ended

Mar. 31, 2017

Financial Assets at Fair Value on Recurring Basis

The following table sets forth the Company’s financial assets (cash equivalents and marketable securities) at fair value on a recurring basis as of March 31, 2017 and December 31, 2016:

	Fair Value as of March 31, 2017		Basis of Fair Value Measurements
(in thousands)			Level 1		Level 2		Level 3
Money market funds	$	3,102	$	3,102	$	—	$	—
Corporate debt securities		1,565		—		1,565		—
Government securities		3,199		—		3,199		—
Commercial paper		9,245		—		9,245		—

Total cash equivalents and marketable securities	$	17,111	$	3,102	$	14,009	$	—

	Fair Value as of December 31, 2016		Basis of Fair Value Measurements
(in thousands)			Level 1		Level 2		Level 3
Money market funds	$	2,746	$	2,746	$	—	$	—
Corporate debt securities		4,206		—		4,206		—
Government securities		5,299		—		5,299		—
Commercial paper		10,966		—		10,966		—

Total cash equivalents and marketable securities	$	23,217	$	2,746	$	20,471	$	—

Summary of Company's Available-for-Sale Securities

The Company invests in highly-liquid, investment-grade securities. The following is a summary of the Company’s available-for-sale securities at March 31, 2017 and December 31, 2016:

As of March 31, 2017 (in thousands):	Cost Basis		Unrealized Gain		Unrealized Loss			Fair Value
Money market funds	$	3,102	$	—	$	—		$	3,102
Corporate debt securities		1,565		—		—			1,565
U.S. Government securities		3,200		—		(1	)		3,199
Commercial paper		9,245		—		—			9,245
		17,112		—		(1	)		17,111
Less cash equivalents		10,948		—		—			10,948
Total marketable securities	$	6,164	$	—	$	(1	)	$	6,163

As of December 31, 2016 (in thousands):	Cost Basis		Unrealized Gain		Unrealized Loss			Fair Value
Money market funds	$	2,746	$	—	$	—		$	2,746
Corporate debt securities		4,208		—		(2	)		4,206
U.S. Government securities		5,299		1		(1	)		5,299
Commercial paper		10,966		—		—			10,966
		23,219		1		(3	)		23,217
Less cash equivalents		10,217		—		—			10,217
Total marketable securities	$	13,002	$	1	$	(3	)	$	13,000

Marketable Securities with Unrealized Losses

The following table provides the breakdown of the marketable securities with unrealized losses at March 31, 2017 (in thousands):

In loss position for less

than twelve months

As of March 31, 2017 (in thousands):

Fair

Value

Unrealized

Loss

U.S. Government securities

3,199

)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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