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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Liabilities measured at fair value by level The following table summarizes the Company’s liabilities measured at fair value as of September 30, 2020 and December 31, 2019, by level within the fair value hierarchy (in thousands):
Level 1Level 2Level 3
September 30, 2020
Promissory note$— $— $16,327 
December 31, 2019
Promissory note$— $— $16,169 
Changes in fair value of promissory notes
The following table includes the changes in fair value of the promissory note which are Level 3 on the fair value hierarchy (in thousands):
2020
Fair value at January 1,$16,169 
Interest expense accrued112 
Increase in fair value46 
Fair value at September 30,$16,327 
2019
Fair value at January 1,$15,852 
Interest expense accrued150 
Increase in fair value167 
Fair value at December 31,$16,169