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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity as of December 31, 2022:

 

 

 

​Number
of shares

 

 

​Weighted
average
exercise price

 

 

Weighted
average
contractual
term

 

 

​Aggregate
intrinsic
value

 

Outstanding at December 31, 2021

 

 

5,090,377

 

 

$

28.89

 

 

 

 

 

 

 

Granted

 

 

2,222,866

 

 

 

38.62

 

 

 

 

 

 

 

Exercised

 

 

(340,149

)

 

 

18.38

 

 

 

 

 

 

 

Forfeited

 

 

(317,942

)

 

 

39.50

 

 

 

 

 

 

 

Expired

 

 

(37,424

)

 

 

54.76

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

6,617,728

 

 

$

31.80

 

 

 

7.3

 

 

$

300,653,467

 

Vested and expected to vest at December 31, 2022

 

 

6,617,728

 

 

$

31.80

 

 

 

7.3

 

 

$

300,653,467

 

Exercisable at December 31, 2022

 

 

3,470,813

 

 

$

21.43

 

 

 

5.8

 

 

$

193,768,216

 

Summary of Black-Scholes Option Valuation Assumptions

The relevant data used to determine the value of the stock option grants for the years ended December 31, 2022, 2021, and 2020 is as follows:

 

Black-Scholes option valuation assumptions

 

2022

 

 

2021

 

 

2020

 

 

Risk-free interest rates

 

1.46 - 4.31%

 

 

0.63 - 1.47%

 

 

0.3 - 1.7%

 

 

Dividend yield

 

 

 

 

 

 

 

 

 

 

Volatility

 

90 - 95%

 

 

89 - 93%

 

 

67 - 99%

 

 

Weighted average expected term

 

5.0 - 6.11 years

 

 

5.0 - 6.17 years

 

 

3.51 - 6.14 years

 

 

Schedule of RSU Activity

The following table sets forth the RSU activity for the year ended December 31, 2022:

 

Number
of shares

 

 

Weighted
average
grant date
fair value

 

Outstanding at December 31, 2021

 

 

302,764

 

 

$

42.93

 

Granted

 

 

533,134

 

 

 

27.18

 

Vested

 

 

(81,639

)

 

 

42.49

 

Forfeited

 

 

(67,884

)

 

 

30.20

 

Outstanding at December 31, 2022

 

 

686,375

 

 

$

31.80

 

 

Schedule of Stock-Based Compensation Expense Recognized

Stock‑based compensation expense recognized for the years ended December 31, 2022, 2021, and 2020 was as follows:

 

 

 

Year ended December 31,

 

 

2022

 

 

2021

 

 

2020

 

Research and development

 

$

8,604,408

 

 

$

7,456,049

 

 

$

3,953,939

 

Selling, general and administrative

 

 

29,121,750

 

 

 

13,345,331

 

 

 

10,802,267

 

Total

 

$

37,726,158

 

 

$

20,801,380

 

 

$

14,756,206