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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Activity Relating to Restricted Stock Units

The following table summarizes activity relating to time-based restricted stock units and performance restricted stock units:

 

 

 

Shares

 

Outstanding as of December 31, 2021

 

 

1,256,098

 

Granted

 

 

569,410

 

Vested

 

 

(351,455

)

Forfeited

 

 

(84,796

)

   Outstanding as of September 30, 2022

 

 

1,389,257

 

Summary of Activity Relating to Time Based and Performance Based Stock Options

The following table summarizes activity related to time-based and performance-based stock options:

 

 

 

Shares

 

 

Weighted
Average Exercise
Price

 

 

Weighted Average
Remaining Life
(in years)

 

 

Aggregate
Intrinsic Value
(in thousands)

 

Outstanding as of December 31, 2021

 

 

7,283,439

 

 

$

84.17

 

 

 

6.74

 

 

$

16,590

 

Granted

 

 

1,008,027

 

 

$

39.59

 

 

 

 

 

 

 

Exercised

 

 

(149,083

)

 

$

6.73

 

 

 

 

 

 

 

Forfeited

 

 

(443,059

)

 

$

94.18

 

 

 

 

 

 

 

Outstanding as of September 30, 2022

 

 

7,699,324

 

 

$

79.26

 

 

 

6.53

 

 

$

8,606

 

Exercisable as of September 30, 2022

 

 

4,953,687

 

 

$

85.77

 

 

 

5.39

 

 

$

6,584

 

Summary of Stock-Based Compensation Expense Recognized

The following table summarizes stock-based compensation expense recognized during the three and nine months ended September 30, 2022 and 2021:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Research and development

 

$

5,964

 

 

$

17,864

 

 

$

21,037

 

 

$

40,598

 

Selling, general and administrative

 

 

7,205

 

 

 

16,478

 

 

 

25,321

 

 

 

43,383

 

 

 

$

13,169

 

 

$

34,342

 

 

$

46,358

 

 

$

83,981

 

Summary of Stock-Based Compensation Expense by Award Type

The following table summarizes stock-based compensation expense by award type recognized during the three and nine months ended September 30, 2022 and 2021:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Stock options

 

$

11,992

 

 

$

19,516

 

 

$

40,659

 

 

$

60,740

 

Restricted stock units

 

 

730

 

 

 

14,563

 

 

 

4,982

 

 

 

22,538

 

Employee stock purchase plan

 

 

447

 

 

 

263

 

 

 

717

 

 

 

703

 

 

 

$

13,169

 

 

$

34,342

 

 

$

46,358

 

 

$

83,981