Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [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			Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2022		1,415,481		$	48.73
Granted		1,192,938		$	42.93
Vested		(153,067	)	$	65.04
Forfeited		(50,016	)	$	46.64
Outstanding as of June 30, 2023		2,405,336		$	44.86

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, 2022		7,788,350		$	77.95		6.36	$	7,275
Granted		881,254		$	46.03
Exercised		(65,940	)	$	16.58
Forfeited		(101,739	)	$	86.24
Outstanding as of June 30, 2023		8,501,925		$	75.02		6.27	$	25,890
Exercisable as of June 30, 2023		5,568,114		$	83.45		5.09	$	17,901

Summary of Stock-Based Compensation Expense Recognized

The following table summarizes stock-based compensation expense recognized during the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(in thousands)
Research and development	$	4,496	$	6,458	$	13,269	$	15,073
Selling, general and administrative		7,197		8,178		18,462		18,116
	$	11,693	$	14,636	$	31,731	$	33,189

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 six months ended June 30, 2023 and 2022:

	Three Months Ended June 30,					Six Months Ended June 30,
	2023		2022			2023		2022
	(in thousands)
Stock options	$	9,663	$	13,202		$	19,678	$	28,667
Restricted stock units		1,618		1,450			11,171		4,253
Employee stock purchase plan		412		(16	)		882		269
	$	11,693	$	14,636		$	31,731	$	33,189