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Share-Based Payments (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Company's Stock Option Activity
The following table presents stock option activity for the six months ended June 30, 2024:
Number of
Stock Options
Weighted-Average
Exercise Price
Outstanding at December 31, 20235,263,681 $44.94 
Granted960,488 33.39 
Exercised(184,331)30.96 
Cancelled/Forfeited(21,063)41.52 
Expired(22,750)34.41 
Outstanding at June 30, 20245,996,025 $43.57 
Exercisable at June 30, 20243,727,328 $51.07 
Vested and expected to vest at June 30, 20245,996,025 $43.57 
Schedule of RSU Activity
The following table presents RSU activity for the six months ended June 30, 2024:
Number of
Stock Units
Weighted-Average
Grant Date Fair 
Value
Unvested shares at December 31, 20231,346,701 $29.67 
Granted1,054,565 31.23 
Vested(522,606)33.04 
Forfeited(18,252)29.17 
Unvested shares at June 30, 20241,860,408 $29.62 
Schedule of PSU Activity
The following table presents PSU activity for the six months ended June 30, 2024:
Number of
Stock Units
Weighted-Average
Grant Date Fair 
Value
Unvested shares at December 31, 2023362,133 $30.66 
Granted183,000 32.27 
Vested(170,550)35.04 
Unvested shares at June 30, 2024374,583 $29.45 
Schedule of Market-based Stock Unit or MSU Activity
The following table presents market-based stock unit, or MSU, activity for the six months ended June 30, 2024:
Number of
Stock Units
Weighted-Average
Grant Date Fair
Value
Unvested shares at December 31, 202342,695 $41.50 
Expired(42,695)41.50 
Unvested shares at June 30, 2024— $— 
Schedule of Stock-Based Compensation Expense by Award Type Included within the Condensed Consolidated Statements of Operations
Stock-based compensation expense by award type included within the condensed consolidated statements of operations is as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In thousands)2024202320242023
Stock options$4,361 $3,937 $8,432 $8,894 
Restricted stock units6,211 4,754 11,177 9,701 
Performance-based stock units750 2,784 750 2,784 
Employee stock purchase plan243 262 440 497 
Total stock-based compensation expense$11,565 $11,737 $20,799 $21,876 
Schedule of Expenses Related to Stock Options and Stock-based Awards
Expenses related to stock options and stock-based awards were allocated as follows in the condensed consolidated statements of operations:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In thousands)2024202320242023
Research and development expense$4,460 $4,540 $8,235 $8,895 
Selling, general and administrative expense7,105 7,197 12,564 12,981 
Total stock-based compensation expense$11,565 $11,737 $20,799 $21,876