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Financial Instruments and Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis
The following table summarizes fair value measurements by level at December 31, 2021 for instruments measured at fair value on a recurring basis (in thousands):

Level 1Level 2Level 3Total
Financial liability:
Embedded derivative liability$— $— $78,497 $78,497 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents the changes in Level 3 liabilities measured at fair value on a recurring basis in 2021 (in thousands):

Embedded derivative liabilityTotal liabilities
Balance at January 1, 2021$— $— 
Loss included in earnings78,497 — 
Balance at December 31, 2021$78,497 $78,497