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Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes stock option activity during the six months ended June 30, 2025:
 
Shares
Weighted
average exercise
price
Outstanding at December 31, 20241,528,143$93.57 
Options granted127,250331.98 
Options exercised(118,658)87.53 
Options cancelled(5,053)87.12 
Outstanding at June 30, 20251,531,682$113.86 
Exercisable at June 30, 20251,186,692$81.20 
Stock-based compensation expense during the three and six months ended June 30, 2025 and 2024 was as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Stock-based compensation expense by type of award:
Stock options$5,449 $10,027 $10,888 $16,913 
Restricted stock units14,328 9,918 26,116 18,543 
Performance-based restricted stock units5,382 4,459 9,086 8,850 
Total stock-based compensation expense$25,159 $24,404 $46,090 $44,306 
Effect of stock-based compensation expense by line item:
Research and development$5,354 $5,582 $10,569 $11,489 
Selling, general and administrative19,805 18,822 35,521 32,817 
Total stock-based compensation expense included in net loss$25,159 $24,404 $46,090 $44,306 
Schedule of RSU Activity
The following table summarizes RSU activity, excluding performance-based RSUs, during the six months ended June 30, 2025:
Shares
Weighted average grant date fair value
Outstanding at December 31, 2024499,559$237.07 
RSUs granted
369,937336.68
RSUs vested
(95,758)258.88
RSUs forfeited
(16,475)279.16
Outstanding at June 30, 2025757,263$282.05 
Schedule of PSU Activity
The following table summarizes PSU activity during the six months ended June 30, 2025:
PSUsEligible to Earn PSUsWeighted average grant date fair value
Outstanding PSUs at December 31, 202492,760 235,520 $257.77 
PSUs granted61,717 123,434 580.38
PSUs attained(50,000)(50,000)146.37 
PSUs forfeited— — — 
Outstanding at June 30, 2025104,477 308,954 $501.65