Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Significant Accounting Policies

Schedule of estimated useful life

Asset Description	Estimated Useful Life
Office equipment and furniture	3 – 5 years
Leasehold improvements and fixtures	Lesser of estimated useful life or lease term

Schedule of recurring Level 3 fair value measurements of contingent consideration significant unobservable inputs

The fair value of financial instruments measured on a recurring basis is as follows (in thousands):

	As of March 10, 2022
Description	Total		Level 1	Level 2	Level 3
Liabilities:
Contingent consideration	$	11,093	—	—	$	11,093

	As of December 31, 2022
Description	Total		Level 1	Level 2	Level 3
Liabilities:
Contingent consideration	$	10,184	—	—	$	10,184

The recurring Level 3 fair value measurements of contingent consideration for which a liability is recorded include the following significant unobservable inputs:

	As of March 10, 2022
	Valuation	Significant	Weighted Average
	Methodology	Unobservable Input	(range, if applicable)
Contingent Consideration	Discounted Cash Flows	Timing of Milestone Achievment	2022-2027
		Discount rate	7.3% to 8.6	%
		Weighted Average Discount rate	7.77	%
		Probability of Occurrence (periodic for each Milestone)	11.7% to 92	%
		Probability of occurrence (cumulative through each Milestone)	5.3% to 48.8	%

	As of December 31, 2022
	Valuation	Significant	Weighted Average
	Methodology	Unobservable Input	(range, if applicable)
Contingent Consideration	Discounted Cash Flows	Timing of Milestone Achievment	2023-2028
		Discount rate	13.4% to 14.1	%
		Weighted Average Discount rate	13.6	%
		Probability of Occurrence (periodic for each Milestone)	11.7% to 95.0	%
		Probability of occurrence (cumulative through each Milestone)	6.9% to 95.0	%

Schedule of change in fair value, as determined by Level 3 inputs, for all assets and liabilities using unobservable Level 3 inputs

The following table summarizes the change in fair value, as determined by Level 3 inputs, for all assets and liabilities using unobservable Level 3 inputs for the year ended December 31, 2022 (in thousands):

	Contingent
	Consideration
Balance at March 10, 2022	$	11,093
Payment of contingent consideration		(3,000)
Change in fair value		2,091
Balance at December 31, 2022	$	10,184