SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

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

The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value and indicate the fair value of the hierarchy of the valuation inputs utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair value determined by Level 2 inputs utilize observable inputs other than Level 1 prices, such as quoted prices, for similar assets or liabilities, quoted market prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.

	December 31, 2019				December 31, 2018
	Level 1		Level 3		Level 1		Level 3
	(in thousands)
Assets:
Money market funds (included in cash and cash equivalents)(1)	$	25,263	$	—	$	32,936	$	—
U.S. treasury securities (included in short-term investments)	1,999		—		29,875		—
Total assets	$	27,262	$	—	$	62,811	$	—
Liabilities:
Common Stock warrants (included in accrued and other liabilities) (2)	$	—	$	100	$	—	$	82

____________________

(1) Amounts presented for each period above differ from cash and cash equivalents reported in the consolidated balance sheets due to uninvested cash balances and outstanding disbursements and deposits.

(2) The change in the balance was due to changes in fair value. This adjustment was reflected in interest expense and other related expenses.

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

The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value and indicate the fair value of the hierarchy of the valuation inputs utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair value determined by Level 2 inputs utilize observable inputs other than Level 1 prices, such as quoted prices, for similar assets or liabilities, quoted market prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.

	December 31, 2019				December 31, 2018
	Level 1		Level 3		Level 1		Level 3
	(in thousands)
Assets:
Money market funds (included in cash and cash equivalents)(1)	$	25,263	$	—	$	32,936	$	—
U.S. treasury securities (included in short-term investments)	1,999		—		29,875		—
Total assets	$	27,262	$	—	$	62,811	$	—
Liabilities:
Common Stock warrants (included in accrued and other liabilities) (2)	$	—	$	100	$	—	$	82

____________________

(1) Amounts presented for each period above differ from cash and cash equivalents reported in the consolidated balance sheets due to uninvested cash balances and outstanding disbursements and deposits.

(2) The change in the balance was due to changes in fair value. This adjustment was reflected in interest expense and other related expenses.