v3.23.2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table summarize the assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022.

			June 30, 2023
			Level 1						Level 2						Level 3						Total
Financial Assets
Short-term investments
Certificates of Deposit			$	—					$	25,113					$	—					$	25,113
Exchange Trade Mutual Funds			$	12,162					$	—					$	—					$	12,162
Treasury Bonds			$	46,189					$	—					$	—					$	46,189
Other			$	8					$	—					$	—					$	8
Financial Liabilities
Contingent Consideration			$	—					$	—					$	6					$	6
			December 31, 2022
			Level 1						Level 2						Level 3						Total
Financial Assets
Short-term investments
Certificates of Deposit			$	—					$	25,148					$	—					$	25,148
Exchange Trade Mutual Funds			$	18,939					$	—					$	—					$	18,939
Treasury Bonds			$	65,040					$	—					$	—					$	65,040
Other			$	172					$	—					$	—					$	172
Financial Liabilities
Contingent Consideration			$	—					$	—					$	2,980					$	2,980

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table summarizes the change in fair value of Level 3 instruments in 2023:

						Total
Balance at January 1, 2023						$	2,980
Change in fair value of contingent consideration						(2,974)
Balance at June 30, 2023						$	6

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The recurring Level 3 fair value measurements of contingent consideration liabilities associated with commercial sales milestones include the following significant unobservable inputs as of June 30, 2023 and December 31, 2022:

			June 30, 2023						December 31, 2022
Valuation techniques			Discounted cash flow, Monte Carlo
Present value discount rate(1)			15.5		%				16.6		%
Volatility factor			38.1		%				48.0		%
Expected years			0.9 years						1.4 years

(1) The present value discount rate includes estimated risk premium.

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Name Accounting Standards Codification
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-SubTopic 10
-Topic 820
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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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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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