STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2025

STOCKHOLDERS' EQUITY [Abstract]

Schedule Common stock repurchase

A summary of common stock repurchase activity under the Repurchase Program is as follows:

	Three Months Ended June 30,			Six Months Ended June 30,
(in thousands)		2025	2024		2025	2024
Shares repurchased		816	n/a		816	n/a
Total cost of shares repurchased	$	15,148	n/a	$	15,148	n/a

Schedule of Assumptions

The following assumptions were used to determine the fair value of options granted during the six months ended June 30, 2025 and 2024:

	Six Months Ended June 30,
		2025		2024
Expected term		5.5 - 6.3 years		5.5 - 6.3 years
Volatility		66	%	66	%
Dividend yield		0.0		0.0
Risk-free interest rate		4.40	%	4.29-4.34	%

Schedule of Option Activity

A summary of the Company’s option activity under the Company’s equity incentive plans and related information is as follows:

	Shares			Weighted- Average Exercise Price
Options outstanding, vested and expected to vest at December 31, 2024	5,141,516		$	3.90
Forfeited	(203,985	)	$	3.20
Expired	(2,164	)	$	2.34
Granted	683,720		$	16.10
Exercised	(802,544	)	$	3.60
Options outstanding, vested and expected to vest at June 30, 2025	4,816,543		$	5.80
Options exercisable	2,627,230		$	3.50

Schedule of Unvested RSU Activity

The Company’s RSUs generally vest annually over a period of four years for employees and semi-annually over a period of one year for directors. A summary of the Company’s unvested RSU activity and related information is as follows:

	Shares			Weighted- Average Grant Date Fair Value
Balance at December 31, 2024	5,745,990		$	5.50
Granted	1,775,774		$	16.30
Vested	(1,620,430	)	$	4.25
Forfeited	(403,492	)	$	7.53
Balance at June 30, 2025	5,497,842		$	9.20

Schedule of Stock-Based Compensation Expense

Total stock-based compensation expense for all awards granted under the Company’s equity incentive plans for the three and six months ended June 30, 2025 and 2024 was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)		2025		2024			2025		2024
Research and development	$	51	$	24		$	90	$	41
Plasma center operating expenses		101		48			178		87
Selling, general and administrative		3,955		2,405			7,828		4,246
Cost of product revenue		856		386			1,491		630
Total stock-based compensation expense	$	4,963	$	2,863		$	9,587	$	5,004