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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Option Activity
A summary of option activity under the Plans for the nine months ended September 30, 2024 follows:
(in thousands, except for share and per share amounts)Number of
Shares
Weighted Average
Exercise Price at
Grant Date
Weighted Average
Remaining Term
(Years)
Aggregate
Intrinsic
Value
Outstanding at December 31, 20234,792,506 $12.95 6.00$— 
Granted190,514 5.41 
Expired(58,253)11.39 
Outstanding at September 30, 20244,924,767 12.67 5.48— 
Exercisable at September 30, 20243,973,865 13.65 4.81— 
Vested and expected to vest at September 30, 20244,856,293 12.75 5.44— 
Schedule of RSU Activity
A summary of RSU activity for the Plans for the nine months ended September 30, 2024 is as follows:
Number of
Shares
Weighted
Average
Grant Date Fair Value
Unvested at December 31, 20231,905,310 $10.87 
Granted1,638,903 4.47 
Forfeited(47,872)10.15 
Vested(772,645)11.53 
Unvested at September 30, 20242,723,696 6.84 
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense recognized for the three and nine months ended September 30, 2024 and 2023 was comprised of the following:
 Three Months EndedNine Months Ended
(in thousands)September 30,
2024
September 30,
2023
September 30,
2024
September 30,
2023
Research and development$703 $739 $2,241 $2,538 
Selling, general and administrative2,296 2,428 7,328 8,229 
Total stock-based compensation expense$2,999 $3,167 $9,569 $10,767 
Schedule of Black-Scholes-Merton Option Pricing Model for Employee and Director Stock Options Granted Assumptions used in the Black-Scholes-Merton option pricing model for employee and director stock options granted during the nine months ended September 30, 2024 and 2023 were as follows:
 Nine Months Ended
September 30, 2024September 30,
2023
Expected dividend yield%%
Weighted average expected volatility50 %47 %
Weighted average expected term (years)6.276.16
Weighted average risk-free rate4.52 %3.89 %