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Fair Value Measurements (Table)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis are summarized as follows (in thousands):

	​	September 30, 2023
	​	Level 1			​	Level 2			​	Level 3
Assets	​				​				​
Cash equivalents:	​				​				​
Money market funds	​	$	66,805		​	$	—		​	$	—
U.S. Treasury notes	​		—		​		187,281		​		—
Total	​	$	66,805		​	$	187,281		​	$	—
Liabilities	​				​				​
Contingent value right liability	​	$	—		​	$	—		​	$	1,500
Total	​	$	—		​	$	—		​	$	1,500

	​	December 31, 2022
	​	Level 1				Level 2				Level 3
Assets	​
Cash equivalents:	​				​				​
Money market funds	​	$	40,783			$	—		​	$	—
Total	​	$	40,783			$	—			$	—

Summary of Changes in Fair Value of the Level 3 Liabilities

The following table provides a summary of changes in fair value of the Level 3 liabilities for the three and nine months ended September 30, 2023 and 2022 (in thousands):

		Three and Nine Months Ended September 30, 2023				Three and Nine Months Ended September 30, 2022
		Contingent value right liability				Derivative liability
Balance at December 31		$	—			$	6,450
Change in fair value			—				(100	)
Balance at March 31			—				6,350
Change in fair value			1,500				(2,390	)
Balance at June 30			1,500				3,960
Change in fair value			—				5,940
Balance at September 30		$	1,500			$	9,900

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C

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-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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-Name Accounting Standards Codification
-Topic 820
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-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
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-Topic 820
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-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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-Name Accounting Standards Codification
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-Paragraph 3
-Publisher FASB
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