Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Compensation

Schedule of total number of shares available for future issuance under the plans

As of December 31, 2024, the total number of shares available for future issuance under each of the plans were:

2013 EIP	4,426,322
2013 ESPP (suspended as December 31, 2024)	3,447,685
2014 NEEIP (expired)	—
Total	7,874,007

Schedule of share-based compensation expense included in the consolidated statements of operations

	Year Ended December 31,
(In thousands)	2024		2023
Research and development	$	5,104	$	8,048
Selling, general and administrative		16,289		16,966
Restructuring and related expenses		—		357
Total share-based compensation expense	$	21,393	$	25,371

Schedule of share-based compensation expense by award type included in the consolidated statements of operations

	Year Ended December 31,
(In thousands)	2024		2023
Options	$	2,060	$	2,294
RSUs		16,746		21,817
Performance RSUs		1,848		1,087
ESPP		739		173
Total share-based compensation expense	$	21,393	$	25,371

Schedule of unrecognized compensation cost, net of expected forfeitures, and the estimated weighted-average amortization period, using the straight-line attribution method

	Unrecognized		Weighted‑Average
	Compensation		Amortization Period
(In thousands, except amortization period)	Cost		(Years)
Options	$	1,414	1.03
RSUs		22,666	2.19
Performance RSUs (1)		1,671	1.37
Total	$	25,751

(1) Represents unrecognized share-based compensation cost associated with the Company’s market-based and performance-contingent awards described above that are probable of vesting.

Summary of option activity under the 2013 EIP and 2014 NEEIP

		Weighted-Average	Weighted-Average
	Number of Shares	Remaining	Exercise Price of			Aggregate
	Subject to	Contractual	Outstanding Options			Intrinsic Value
	Outstanding Options	Term (Years)	(in dollars)			(in thousands)
Outstanding at December 31, 2023	2,305,876		$	18.65
Granted	165,032			9.49
Exercised	—			—
Forfeited	(574,000)			26.32
Outstanding at December 31, 2024	1,896,908	6.01		15.53	$	—
Exercisable at December 31, 2024		5.70				—
Vested and expected to vest at December 31, 2024		6.01				—

	2024		2023
Weighted average fair value of options	$	5.29	$	5.74

Schedule of RSU and RSA activity (including performance RSUs and RSAs)

	Number of Shares
	Subject to
	Outstanding RSUs
Outstanding at December 31, 2023	3,995,750
Granted	2,110,447
Released	(1,640,526)
Forfeited	(510,184)
Outstanding at December 31, 2024	3,955,487

Schedule of range of assumptions used to estimate the fair value of share options granted and rights granted

	Year Ended December 31,
	2024		2023
Options
Risk-free interest rate		4.47%		3.46% - 4.18%
Expected term (in years)		6.4		5.3 - 6.5
Volatility		52%		53% - 55%
Dividend yield		—		—
Weighted-average estimated fair value	$	5.29	$	5.74
2013 ESPP
Risk-free interest rate		4.78% - 5.41%		4.06% - 5.39%
Expected term (in years)		0.5 - 2.0		0.5 - 2.0
Volatility		35% - 39%		32% - 58%
Dividend yield		—		—
Weighted-average estimated fair value	$	3.11	$	3.46