Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis

The following table summarizes fair value measurements by level at March 31, 2022 and December 31, 2021 for instruments measured at fair value on a recurring basis (in thousands):

	Level 1		Level 2		Level 3		Total
March 31, 2022
Financial liability:
Embedded derivative liability	$	—	$	—	$	124,640	$	124,640
December 31, 2021
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 during the three months ended March 31, 2022 (in thousands):

	Embedded derivative liability		Total liabilities
Balance at January 1, 2022	$	78,497	$	78,497
Loss included in earnings	46,143		46,143
March 31, 2022	$	124,640	$	124,640