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Assets and Liabilities Measured at Fair Value (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Subject to Fair Value Measurements
A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of December 31, 2022 are identified in the following tables:
(in thousands)Level 2Total
Assets:
Commercial paper$144,381 $144,381 
Money market5,808 5,808 
$150,189 $150,189 
(in thousands)Level 2Level 3Total
Liabilities:
Contingent consideration payable$— $21,417 $21,417 
Deferred compensation plan liability5,458 — 5,458 
$5,458 $21,417 $26,875 
A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of December 31, 2021 are identified in the following tables:
(in thousands)Level 2Total
Assets:
Commercial paper$174,531 $174,531 
Corporate debt securities32,311 32,311 
Asset-backed securities30,056 30,056 
Money market5,150 5,150 
$242,048 $242,048 
(in thousands)Level 2Level 3Total
Liabilities:
Contingent consideration payable$— $20,339 $20,339 
Deferred compensation plan liability4,800 — 4,800 
$4,800 $20,339 $25,139 
Schedule of Significant Unobservable Inputs Used in the Valuation of the Contingent Consideration Payable
The following significant unobservable inputs were used in the valuation of the contingent consideration payable of Callidus for the ATB200 Pompe disease program:
Contingent Consideration LiabilityFair Value as of December 31, 2022Valuation TechniqueUnobservable InputRange
(in thousands)
 Discount rate10.2%
Clinical and regulatory milestones$21,417 Probability weighted discounted cash flowProbability of achievement of milestones
88%-98%
 Projected year of payments2023
Schedule of Changes in Contingent Consideration Payable
The following table shows the change in the balance of contingent consideration payable for the year ended December 31, 2022 and 2021, respectively:
Years ended December 31,
(in thousands)20222021
Balance, beginning of the period$20,339 $25,825 
Changes in fair value during the period, included in the Consolidated Statements of Operations 1,078 6,514 
Payment of contingent consideration in cash— (12,000)
Balance, end of the period(1)
$21,417 $20,339 
______________________________
(1) As certain milestones are expected to be reached within the next twelve months, the December 31, 2022 balance was recorded as a current liability in the Consolidated Balance Sheets.