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Stock-Based Compensation Expense (Tables)
12 Months Ended
Dec. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of the Status And Changes In Stock Option Activities

A summary of the stock option activities related to the Plans, as of and for the year ended December 31, 2022 and 2021 is presented below:

 

 

Number of Options

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Grant
Date
Fair Value

 

Weighted Avg
Remaining
Contractual Life
(Years)

 

Options outstanding as of December 31, 2021

 

 

5,754,005

 

 

$

11.64

 

 

 

 

$

6.88

 

  Granted

 

 

1,149,018

 

 

 

12.76

 

 

$

7.27

 

 

 

  Exercised

 

 

(202,806

)

 

 

4.14

 

 

 

2.13

 

 

 

  Forfeited

 

 

(196,969

)

 

 

13.70

 

 

 

11.93

 

 

 

  Expired

 

 

(163,690

)

 

 

17.04

 

 

 

 

 

 

Options outstanding as of December 31, 2022

 

 

6,339,558

 

 

 

11.88

 

 

 

 

 

6.48

 

Exercisable as of December 31, 2022

 

 

3,891,871

 

 

$

10.56

 

 

 

 

$

5.06

 

 

Summary of Non-Vested Restricted stock unit Activities

A summary of restricted stock unit activities for the year ended December 31, 2022 and 2021 is presented below:

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2021

 

 

640,479

 

 

$

15.46

 

  Granted

 

 

80,427

 

 

 

13.37

 

  Vested

 

 

(179,700

)

 

 

15.57

 

  Forfeited

 

 

(48,344

)

 

 

15.38

 

Unvested at December 31, 2022

 

 

492,862

 

 

$

15.08

 

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense was classified in the accompanying consolidated statements of operations and comprehensive income (loss) as follows (in thousands):

 

 

Twelve Months Ended December 31,

 

 

 

2022

 

 

2021

 

Research and development

 

$

3,064

 

 

$

2,620

 

Selling, general and administrative

 

 

7,399

 

 

 

4,061

 

Cost of goods sold

 

 

934

 

 

 

894

 

 

 

$

11,397

 

 

$

7,575

 

Schedule of Range and Weighted-average Assumptions Used in Black-Scholes Option Pricing Model to Determine the Fair Value of Stock Options

The following table presents the range and weighted-average assumptions, used in the Black-Scholes option pricing model to determine the fair value of stock options:

 

 

Twelve Months Ended December 31,

 

 

2022

 

2021

 

 

Range

 

Weighted Average

 

Range

 

Weighted Average

Expected volatility

 

62.4% to 64.9%

 

63.1%

 

61.6% to 63.7%

 

63.2%

Risk-free interest rate

 

2.0% to 3.8%

 

2.7%

 

0.6% to 1.7%

 

1.0%

Expected life (in years)

 

6.0 to 10.0 years

 

6.1 years

 

5.5 to 10.0 years

 

6.1 years

Expected dividend yield

 

0.0%

 

0.0%

 

0.0%

 

0.0%

Grant date fair value

 

$10.74 to $15.52

 

$12.73

 

$12.08 to $19.94

 

$15.02