Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities that Require Fair Value Measurements on a Recurring Basis

The following table summarizes the Company’s assets and liabilities that require fair value measurements on a recurring basis and their respective input levels based on the fair value hierarchy (in thousands):

	Fair Value Measurements at Reporting Date						Total
	Level 1		Level 2		Level 3
As of March 31, 2022:
Assets
Cash equivalents	$	18,438	$	—	$	—	$	18,438
Liabilities
Development derivative liability (Note 8)	$	—	$	—	$	110,944	$	110,944
As of December 31, 2021:
Assets
Cash equivalents	$	41,550	$	—	$	—	$	41,550
Liabilities
Development derivative liability (Note 8)	$	—	$	—	$	114,843	$	114,843