FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis

The following tables reflect the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020 (in thousands):

December 31, 2021	Financial Statement Classification	Level 1		Level 2		Level 3		Total
Liabilities:
Short-term contingent consideration	Contingent consideration liability	$	—	$	—	$	14,500	$	14,500
Long-term contingent consideration	Contingent consideration liability	—		—		23,159		23,159
Total		$	—	$	—	$	37,659	$	37,659

December 31, 2020	Financial Statement Classification	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	Cash and cash equivalents	$	77	$	—	$	—	$	77
Total		$	77	$	—	$	—	$	77
Liabilities:
Short-term contingent consideration	Contingent consideration liability	$	—	$	—	$	6,776	$	6,776
Long-term contingent consideration	Contingent consideration liability	—		—		31,776		31,776
Total		$	—	$	—	$	38,552	$	38,552

Summary of the changes in fair value of all financial liabilities measured at fair value on a recurring basis using significant unobservable inputs

The following table summarizes changes in fair value that are measured on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2021, and 2020 (in thousands):

	December 31,
	2021		2020
Fair value, beginning of the period	$	38,552	$	168
Contingent consideration acquired with Zyla Merger	—		39,900
Change in fair value of contingent consideration recorded within costs and expenses	3,914		1,500
Cash payment related to contingent consideration	(4,807)		(3,016)
Total	$	37,659	$	38,552