Rigel Pharmaceuticals, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2014

CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

5. CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

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

	December 31,
	2014		2013
Checking account	$	175	$	195
Money market funds		10,027		9,059
U. S. treasury bills		2,010		2,085
Government-sponsored enterprise securities		45,786		67,178
Corporate bonds and commercial paper		85,161		133,458

	$	143,159	$	211,975


Reported as:
Cash and cash equivalents	$	15,203	$	20,854
Short-term investments		127,956		191,121

	$	143,159	$	211,975

Cash equivalents and short-term investments included the following available-for-sale securities with unrealized gains and losses (in thousands):

December 31, 2014	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U. S. treasury bills	$	2,010	$	—	$	—		$	2,010
Government-sponsored enterprise securities		45,793		4		(11	)		45,786
Corporate bonds and commercial paper		85,161		21		(21	)		85,161

Total	$	132,964	$	25	$	(32	)	$	132,957

December 31, 2013	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U. S. treasury bills	$	2,083	$	2	$	—		$	2,085
Government-sponsored enterprise securities		67,160		29		(11	)		67,178
Corporate bonds and commercial paper		133,431		33		(6	)		133,458

Total	$	202,674	$	64	$	(17	)	$	202,721

As of December 31, 2014, our cash equivalents and short-term investments have contractual maturities within one year.

As of December 31, 2014, our cash equivalents and short-term investments had a weighted-average time to maturity of approximately 148 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 December 31, 2014 through their respective maturity dates. At December 31, 2014, we had no investments that had been in a continuous unrealized loss position for more than twelve months. In the second quarter of 2013, we sold certain short-term investments at their approximate carrying values prior to maturity and received proceeds of $16.5 million. At December 31, 2013, we had 4 investments in continuous unrealized loss position for more than twelve months, which matured on February 10, 2014. The total unrealized loss for these investments was approximately $2,000, which was immaterial. As of December 31, 2014, a total of 31 individual securities had been in an unrealized loss position for twelve months or less and the losses were deemed to be temporary.

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):

December 31, 2014	Fair Value		Unrealized Losses
Government-sponsored enterprise securities	$	23,122	$	(11	)
Corporate bonds and commercial paper		34,441		(21	)

Total	$	57,563	$	(32	)