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, 2021Financial Statement ClassificationLevel 1Level 2Level 3Total
Liabilities:
Short-term contingent consideration    Contingent consideration liability$— $— $14,500 $14,500 
Long-term contingent considerationContingent consideration liability— — 23,159 23,159 
Total$— $— $37,659 $37,659 
December 31, 2020Financial Statement ClassificationLevel 1Level 2Level 3Total
Assets:
Money market fundsCash and cash equivalents$77 $— $— $77 
Total$77 $— $— $77 
Liabilities:
Short-term contingent considerationContingent consideration liability$— $— $6,776 $6,776 
Long-term contingent considerationContingent consideration liability— — 31,776 31,776 
Total$— $— $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,
20212020
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 expenses3,914 1,500 
Cash payment related to contingent consideration(4,807)(3,016)
Total$37,659 $38,552