FAIR VALUE MEASUREMENT AND FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Summary of Carrying Amounts and Fair Values of Financial Instruments Measured

The following tables set forth the carrying amounts and fair values of the Company's financial instruments measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020 (in thousands):

	June 30, 2021
					Fair Value Measurement Based on
	Carrying Amount		Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (cash equivalents)	$	16,379	$	16,379	$	16,379	$	—	$	—
Liabilities:
Contingent consideration - short term	$	10,300	$	10,300	$	—	$	—	$	10,300
Contingent consideration - long term	$	160,300	$	160,300	$	—	$	—	$	160,300

	December 31, 2020
					Fair Value Measurement Based on
	Carrying Amount		Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (cash equivalents)	$	16,374	$	16,374	$	16,374	$	—	$	—
Liabilities:
Contingent consideration - short term	$	8,985	$	8,985	$	—	$	—	$	8,985
Contingent consideration - long term	$	99,855	$	99,855	$	—	$	—	$	99,855

Summary of Contingent Consideration Liability

The following table sets forth a summary of the change in the fair value of the Company's total contingent consideration liability, measured on a recurring basis at each reporting period, for the six months ended June 30, 2021 (in thousands):

Balance at December 31, 2020	$108,840
Change in fair value of contingent consideration - short term	1,315
Change in fair value of contingent consideration - long term	60,445
Balance at June 30, 2021	$	170,600