FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022 (in thousands):

December 31, 2023	Financial Statement Classification	Level 1		Level 2		Level 3		Total
Assets:
U.S. Treasuries	Cash and cash equivalents	$	—	$	35,458	$	—	$	35,458
U.S. Government agencies	Cash and cash equivalents	—		3,294		—		3,294
Money market funds	Cash and cash equivalents	32,534		—		—		32,534
Total		$	32,534	$	38,752	$	—	$	71,286
Liabilities:
Short-term contingent consideration	Contingent consideration, current portion	$	—	$	—	$	2,700	$	2,700
Derivative liability	Long-term debt	—		—		308		308
Total		$	—	$	—	$	3,008	$	3,008

December 31, 2022	Financial Statement Classification	Level 1		Level 2		Level 3			Total
Assets:
Commercial paper	Cash and cash equivalents	$	—	$	4,983	$	—		$	4,983
U.S. Treasuries	Cash and cash equivalents			3,981					3,981
U.S. Government agencies	Cash and cash equivalents			10,937					10,937
Money market funds	Cash and cash equivalents	38,478		—		—			38,478
Total		$	38,478	$	19,901	$	—		$	58,379
Liabilities:
Short-term contingent consideration	Contingent consideration, current portion	$	—	$	—	$	26,300		$	26,300
Long-term contingent consideration	Contingent consideration	—		—		22,200			22,200
Derivative liability	Long-term debt	—		—		252		2	252
Total		$	—	$	—	$	48,752		$	48,752

Schedule of Changes in Fair Value

The following table summarizes changes in fair value of the Company’s contingent consideration obligations that is measured on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2023, and 2022 (in thousands):

	December 31,
	2023		2022
Fair value, beginning of the period	$	48,500	$	37,659
Fair value of contingent consideration incurred in Spectrum Merger	3,932		—
Change in fair value of contingent consideration recorded within costs and expenses	(25,538)		18,687
Cash payment related to contingent consideration	(24,194)		(7,846)
Fair value, end of the period	$	2,700	$	48,500

Schedule of Changes in Fair Value of the Derivative Liability

The following table summarizes the change in fair value of the derivative liability that is measured on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2023 and December 31, 2022 (in thousands):

	Year ended December 31,
	2023		2022
Fair value, beginning of the period	$	252	$	—
Initial fair value of derivative liability recognized	—		252
Change in fair value of derivative liability recorded within Other (loss) gain	56		—
Fair value, end of the period	$	308	$	252