FAIR VALUE MEASUREMENT AND FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Schedule 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 December 31, 2022 and 2021 (in thousands):


	December 31, 2022
					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:
Cash equivalents:
Money market funds	$	76,728	$	76,728	$	76,728	$	—	$	—
Marketable securities:
US government securities	$	49,431	$	49,431	$	—	$	49,431	$	—
US treasury securities	$	4,935	$	4,935	$	—	$	4,935	$	—


	December 31, 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)	$	16,382	$	16,382	$	16,382	$	—	$	—
Liabilities:

Contingent consideration - long term	$	52,000	$	52,000	$	—	$	—	$	52,000

Schedule 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 year ended December 31, 2022.


Balance at December 31, 2021	$	52,000

Change in fair value of contingent consideration - long term	(52,000)
Balance at December 31, 2022	$	—