Stock-Based Compensation Expense (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [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, 2023 and 2022 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, 2022		6,339,558		$	11.88				6.48
Granted		1,465,466			16.41	$	10.27
Exercised		(841,896	)		9.92		4.74
Forfeited		(120,711	)		13.30		10.71
Expired		(65,013	)		18.35
Options outstanding as of December 31, 2023		6,777,404			13.02				6.51
Exercisable as of December 31, 2023		4,237,959		$	11.70				5.30

Summary of Non-Vested Restricted Stock Unit Activities

A summary of restricted stock unit activities for the year ended December 31, 2023 and 2022 is presented below:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested at December 31, 2022		492,862		$	15.08
Granted		430,926			16.00
Vested		(262,078	)		14.81
Forfeited		(11,353	)		15.16
Unvested at December 31, 2023		650,357		$	15.80

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,
	2023		2022
Research and development	$	3,963	$	3,064
Selling, general and administrative		10,609		7,399
Cost of sales		1,174		934
	$	15,746	$	11,397

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,
	2023		2022
	Range	Weighted Average	Range	Weighted Average
Expected volatility	64.9% to 68.6%	64.9%	62.4% to 64.9%	63.1%
Risk-free interest rate	3.4% to 4.8%	4.1%	2.0% to 3.8%	2.7%
Expected life (in years)	5.5 to 6.1 years	6.0 years	6.0 to 10.0 years	6.1 years
Expected dividend yield	0.0%	0.0%	0.0%	0.0%
Grant date fair value	$12.91 to $39.71	$17.60	$10.74 to $15.52	$12.73