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Stock-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of stock option activity
The following table summarizes stock option activity during the year ended December 31, 2024:
Shares
Weighted
average exercise
price		Weighted
average
remaining
contractual life
(years)		Aggregate
intrinsic value
(in thousands)
Outstanding at December 31, 20232,355,779$79.94 
Options granted170,872234.80 
Options exercised(928,800)82.81 
Options cancelled(69,708)122.50 
Outstanding at December 31, 20241,528,143$93.57 4.52$328,574 
Exercisable at December 31, 20241,172,585$74.84 3.83$274,073 
Stock-based compensation expense during the years ended December 31, 2024, 2023 and 2022 was as follows (in thousands):
Year Ended December 31,
202420232022
Stock-based compensation expense by type of award:
Stock options$26,977 $30,613 $31,625 
Restricted stock units
35,13614,974 — 
Performance-based restricted stock units
17,7674,148 — 
Total stock-based compensation expense$79,880 $49,735 $31,625 
Effect of stock-based compensation expense by line item:
Research and development$22,158 $20,864 $13,876 
Selling, general and administrative57,722 28,871 17,749 
Total stock-based compensation expense included in net loss$79,880 $49,735 $31,625 
Summary of restricted stock unit activity
The following table summarizes RSU activity, excluding performance-based RSUs, during the year ended December 31, 2024:
Shares
Weighted
average grant date fair value
Outstanding at December 31, 2023376,117$241.45 
RSUs granted
295,916236.90 
RSUs vested
(113,154)248.37 
RSUs forfeited
(59,320)242.48 
Outstanding at December 31, 2024499,559$237.07 
Summary of performance-based restricted stock units
The following table summarizes PSU activity during the year ended December 31, 2024:
PSUsEligible to Earn PSUsWeighted average grant date fair value
Outstanding PSUs at December 31, 202350,000 150,000 $146.37 
PSUs granted51,202 102,404 388.02
PSUs attained— — — 
PSUs forfeited(8,442)(16,884)388.02
Outstanding at December 31, 202492,760 235,520 $257.77 
Exercisable at December 31, 2024— — $—