CONTINGENT FORWARD CONTRACTS (Tables)

12 Months Ended

Dec. 31, 2020

Derivative [Line Items]

Schedule of financial assets and liabilities subject to fair value measurements on a recurring basis

The following table sets forth the Company’s financial assets and liabilities subject to fair value measurements on a recurring basis by level within the fair value hierarchy as of December 31, 2020 (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
Short-term investment –
Certificates of deposit	$	—	$	505	$	—	$	505
Restricted cash – short term		11,278		—		—		11,278
Restricted cash – long term		14,728		—		—		14,728
Total assets	$	26,006	$	505	$	—	$	26,511
Liabilities:
Convertible preferred share warrant liability	$	—	$	—	$	2,960	$	2,960
Total liabilities	$	—	$	—	$	2,960	$	2,960

The following table sets forth the Company’s financial assets and liabilities subject to fair value measurements on a recurring basis by level within the fair value hierarchy as of December 31, 2019 (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
Short-term investment −
Certificate of deposit	$	—	$	505	$	—	$	505
Restricted cash – short term		19,767		—		—		19,767
Restricted cash – long term		8,200		—		—		8,200
Total assets	$	27,967	$	505	$	—	$	28,472
Liabilities:
Convertible preferred share warrant liability	$	—	$	—	$	1,755	$	1,755
Contingent forward contracts liability		—		—		30,844		30,844
Total liabilities	$	—	$	—	$	32,599	$	32,599

Series D convertible preferred shares

Derivative [Line Items]

Schedule of financial assets and liabilities subject to fair value measurements on a recurring basis

Settlement date		3/31/2020			6/30/2020
Expected term		—			—
Contingent Series D convertible preferred shares fair value (per share)	$	2.64		$	2.69
Present value factor		1.0000			1.0000
Estimated probability of satisfying milestones		100	%		100	%

Series E convertible preferred shares

Derivative [Line Items]

Schedule of financial assets and liabilities subject to fair value measurements on a recurring basis

Effective date		9/22/2020			12/31/2020
Expected term		0.25 Years			—
Contingent Series E convertible preferred shares fair value (per share)	$	2.99		$	3.82
Present value factor		0.9999			1.0000
Estimated probability of satisfying milestones		95	%		100	%

Series D contingent forward contract liability

Derivative [Line Items]

Schedule of financial assets and liabilities subject to fair value measurements on a recurring basis

Effective date	9/20/2018
Coupon payment dates	Semi-Annual
Maturity date	03/20/2020
Initial term	1.5 Years
Interest rate (coupon rate)	8.00	%
Yield (market rate)	8.00	%
Effective interest rate	2.47	%