Stock-Based Compensation Expense (Tables)

3 Months Ended

Mar. 31, 2026

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 Equity Plans for the three months ended March 31, 2026 is presented below:

	Number of Options			Weighted Average Exercise Price		Weighted Avg Remaining Contractual Life (Years)
Options outstanding as of December 31, 2025		6,556,728		$	23.60		6.80
Granted		354,770			10.78
Exercised		(34,010	)		4.22
Forfeited		(23,986	)		27.79
Expired		(153,445	)		18.12
Options outstanding as of March 31, 2026		6,700,057			22.99		6.72
Exercisable as of March 31, 2026		4,367,892		$	20.58		5.69

Summary of Non-Vested Restricted stock unit Activities

A summary of non-vested restricted stock unit activities for the three months ended March 31, 2026 is as follows:

									Weighted
									Average
									Grant Date
Restricted stock units	Time-based			Performance and Time-based		Total			Fair Value
Unvested at December 31, 2025		812,227			—		812,227		$	25.82
Granted		991,277			649,097		1,640,374			4.79
Vested		(170,313	)		—		(170,313	)		23.10
Forfeited		(51,012	)		—		(51,012	)		22.22
Unvested at March 31, 2026		1,582,179			649,097		2,231,276		$	10.65

Schedule of Stock-Based Compensation Expense

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

	Three Months Ended March 31,
	2026		2025
Research and development	$	1,935	$	1,807
Selling, general and administrative		5,340		4,714
Cost of sales		670		619
	$	7,945	$	7,140

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:

	Three Months Ended March 31,
	2026		2025
	Range	Weighted Average	Range	Weighted Average
Expected volatility	72.0% to 73.0%	73.0%	52.0% to 66.0%	65.8%
Risk-free interest rate	3.6% to 4.0%	3.7%	4.0% to 4.8%	4.1%
Expected life (in years)	5.5 to 6.1 years	6.0 years	5.5 to 6.1 years	6.0 years
Expected dividend yield	0.0%	0.0%	0.0%	0.0%
Grant date fair value	$6.44 to $10.09	$9.74	$24.84 to $33.87	$28.18

Schedule of Common stock reserved for future issuance

Each share of common stock is entitled to one vote. Common stock reserved for future issuance consisted of the following:

	March 31, 2026		December 31, 2025
Stock options issued and outstanding under the Equity Plans		6,700,057		6,556,728
Shares available for future issuance under the 2021 Plan		559,369		613,210
Restricted stock units issued under the 2021 Plan		2,231,276		813,199
Shares available for future issuance under 2021 ESPP		394,868		394,868
Total shares of common stock reserved		9,885,570		8,378,005