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Equity Incentive Plans
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Equity Incentive Plans EQUITY INCENTIVE PLANS
Stock-Based Compensation
Stock-based compensation expense recognized for stock options, restricted stock units (RSUs), and our employee stock purchase program (ESPP) are recorded as operating expenses in our condensed statements of operations and comprehensive loss, as follows (in thousands):
Three Months Ended March 31,
20242023
Selling, general and administrative$5,646 $2,088 
Research and development1,970 824 
Total$7,616 $2,912 
As of March 31, 2024, our total unrecognized stock-based compensation expense, net of estimated forfeitures, and average remaining vesting period, included the following (dollars in thousands):
Unrecognized Compensation ExpenseAverage Remaining Vesting Period (Years)
Stock option grants$59,367 3.1
RSU grants$49,955 3.3
ESPP$522 0.4
Stock Options
A summary of our stock option activity and related information for the three months ended March 31, 2024 is as follows (in thousands, except dollar amounts):
Number of SharesWeighted-Average
Exercise Price per
Share
Balance at December 31, 202322,168 $4.20 
Options granted6,502 $8.68 
Options exercised(702)$3.11 
Options forfeited or canceled(178)$2.83 
Balance at March 31, 202427,790 $5.29 
Exercisable at March 31, 202412,856 $5.29 
Restricted Stock Units
A summary of our RSUs activity and related information for the three months ended March 31, 2024 is as follows (in thousands, except dollar amounts):
Number of
RSUs		Weighted-Average
Grant Date Fair
Value Per Share
Non-vested restricted stock units at December 31, 20233,646 $3.09 
Granted4,901 $8.68 
Vested(552)$5.62 
Forfeited(60)$2.64 
Non-vested restricted stock units at March 31, 20247,935 $6.37 
Employee Stock Purchase Plan
During the three months ended March 31, 2024, we sold approximately 0.3 million shares of our common stock under the ESPP. The shares were purchased by employees at an average purchase price of $4.10 per share resulting in proceeds to us of approximately $1.0 million.
Issuance of Common Stock for Services
Under Our Amended and Restated Non-Employee Director Compensation Program, members of our board of directors may elect to receive shares of our stock in lieu of their cash fees. During the three months ended March 31, 2024, we issued no shares of our common stock to members of the board of directors in accordance with the program.