Rigel Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cash, Cash Equivalents and Short-Term Investments

Cash, Cash Equivalents and Short-Term Investments

9 Months Ended

Sep. 30, 2017

Cash, Cash Equivalents and Short-Term Investments

Cash, Cash Equivalents and Short-Term Investments

9.Cash, Cash Equivalents and Short-Term Investments

Cash, cash equivalents and short-term investments consisted of the following (in thousands):


	September 30,		December 31,
	2017		2016
Cash	$	385	$	240
Money market funds		5,099		9,496
U.S. treasury bills		3,000		4,300
Government-sponsored enterprise securities		3,655		16,459
Corporate bonds and commercial paper		55,937		44,271
	$	68,076	$	74,766
Reported as:
Cash and cash equivalents	$	25,879	$	17,632
Short-term investments		42,197		57,134
	$	68,076	$	74,766

Cash equivalents and short-term investments include the following securities with gross unrealized gains and losses (in thousands):


			Gross		Gross
	Amortized		Unrealized		Unrealized
September 30, 2017	Cost		Gains		Losses		Fair Value
U.S. treasury bills	$	3,000	$	—	$	—	$	3,000
Government-sponsored enterprise securities		3,656		—		(1)		3,655
Corporate bonds and commercial paper		55,943		—		(6)		55,937
Total	$	62,599	$	—	$	(7)	$	62,592


			Gross		Gross
	Amortized		Unrealized		Unrealized
December 31, 2016	Cost		Gains		Losses		Fair Value
U.S. treasury bills	$	4,300	$	—	$	—	$	4,300
Government-sponsored enterprise securities		16,457		3		(1)		16,459
Corporate bonds and commercial paper		44,291		2		(22)		44,271
Total	$	65,048	$	5	$	(23)	$	65,030

As of September 30, 2017, our cash equivalents and short-term investments, which have contractual maturities within one year, had a weighted-average time to maturity of approximately 75 days. We view our short-term investments portfolio as available for use in current operations. We have the ability to hold all investments as of September 30, 2017 through their respective maturity dates. At September 30, 2017, we had no investments that had been in a continuous unrealized loss position for more than 12 months. As of September 30, 2017, a total of 21 individual securities had been in an unrealized loss position for 12 months or less, and the losses were determined to be temporary. The gross unrealized losses above were caused by interest rate increases. No significant facts or circumstances have arisen to indicate that there has been any significant deterioration in the creditworthiness of the issuers of the securities held by us. Based on our review of these securities, including the assessment of the duration and severity of the unrealized losses and our ability and intent to hold the investments until maturity, there were no other-than-temporary impairments for these securities at September 30, 2017.

The following table shows the fair value and gross unrealized losses of our investments in individual securities that are in an unrealized loss position, aggregated by investment category (in thousands):


September 30, 2017	Fair Value		Unrealized Losses
Government-sponsored enterprise securities	$	3,655	$	(1)
Corporate bonds and commercial paper		22,269		(6)
Total	$	25,924	$	(7)