XML 12 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Year
Summary Compensation Table Total for PEO(1)
($)
Compensation Actually Paid to PEO(1),˒(2),˒(3)
($)
Average Summary Compensation Table Total for Non-PEO NEOs(1)
($)
Average Compensation Actually Paid to Non-PEO NEOs(1),(2),(3)
($)
Value of Initial Fixed $100 Investment based on:(4)
Net Income
($ Millions)
Net Revenue(5)
($ Millions)
TSR
($)
Peer Group TSR
($)
(a)(b)(c)(d)(e)(f)(g)(h)(i)
20246,417,8977,623,5752,207,8952,425,04544.3281.125.8235.1
202310,573,35914,915,5283,892,4385,271,05244.3788.90(78.0)175.5
20228,837,397(8,899,595)3,275,710(748,376)21.3290.18(108.2)134.0
20211,240,38916,344,707718,1634,188,759112.88118.47(181.0)45.6
202010,678,868(2,601,908)3,233,7472,545,95968.26128.55(102.7)50.1
       
Company Selected Measure Name et revenue        
Named Executive Officers, Footnote Peter Greenleaf was our PEO for each year presented.        
PEO Total Compensation Amount $ 6,417,897 $ 10,573,359 $ 8,837,397 $ 1,240,389 $ 10,678,868
PEO Actually Paid Compensation Amount $ 7,623,575 14,915,528 (8,899,595) 16,344,707 (2,601,908)
Adjustment To PEO Compensation, Footnote Compensation actually paid reflects the exclusions and inclusions of certain amounts for the PEO and the non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
(4)The peer group total shareholder return (“TSR”) set forth in this table utilizes the Russell 3000 Biotech Index. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the Russell 3000 Biotech Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
(5)We determined net revenue to be the most important financial performance measure used to link Company performance to compensation actually paid to our PEO and non-PEO NEOs in 2024. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
Reconciliation of Summary Compensation Table to Compensation Actually Paid
YearSummary Compensation Table Total for Peter Greenleaf
($)
Exclusion of Stock Awards and Option Awards for Peter Greenleaf
($)
Inclusion of Equity Values for Peter Greenleaf
($)
Compensation Actually Paid to Peter Greenleaf
($)
(a)
(b)
(c)
(d) = (a) + (b) + (c)
20246,417,897(4,825,917)6,031,5967,623,575
202310,573,359(8,999,997)13,342,16614,915,528
20228,837,397(7,502,011)(10,234,980)(8,899,595)
20211,240,38915,104,31816,344,707
202010,678,868(9,288,898)(3,991,878)(2,601,908)
YearAverage Summary Compensation Table Total for Non-PEO NEOs
($)
Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs
($)
Average Inclusion of Equity Values for Non-PEO NEOs
($)
Average Compensation Actually Paid to Non-PEO NEOs
($)
(a)
(b)
(c)
(d) = (a) + (b) + (c)
20242,207,895(1,280,605)1,497,7552,425,045
20233,892,438(3,023,431)4,402,0455,271,052
20223,275,710(2,375,417)(1,648,669)(748,376)
2021718,1633,470,5964,188,759
20203,233,747(2,741,071)2,053,2832,545,959
       
Non-PEO NEO Average Total Compensation Amount $ 2,207,895 3,892,438 3,275,710 718,163 3,233,747
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,425,045 5,271,052 (748,376) 4,188,759 2,545,959
Adjustment to Non-PEO NEO Compensation Footnote The individuals comprising the non-PEO NEOs for each year presented are listed below.
20242023202220212020
Joe MillerJoe MillerJoe MillerJoe MillerJoe Miller
Max DonleyMax DonleyMax DonleyMax DonleyMax Donley
Stephen Robertson
Stephen RobertsonStephen RobertsonStephen RobertsonStephen Robertson
Scott Habig
Volker Knappertz
Max ColaoMax ColaoMax Colao
Greg Keenan
Volker KnappertzDennis Bourgeault
Neil Solomons
Compensation actually paid reflects the exclusions and inclusions of certain amounts for the PEO and the non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
(4)The peer group total shareholder return (“TSR”) set forth in this table utilizes the Russell 3000 Biotech Index. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the Russell 3000 Biotech Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
(5)We determined net revenue to be the most important financial performance measure used to link Company performance to compensation actually paid to our PEO and non-PEO NEOs in 2024. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
Reconciliation of Summary Compensation Table to Compensation Actually Paid
YearSummary Compensation Table Total for Peter Greenleaf
($)
Exclusion of Stock Awards and Option Awards for Peter Greenleaf
($)
Inclusion of Equity Values for Peter Greenleaf
($)
Compensation Actually Paid to Peter Greenleaf
($)
(a)
(b)
(c)
(d) = (a) + (b) + (c)
20246,417,897(4,825,917)6,031,5967,623,575
202310,573,359(8,999,997)13,342,16614,915,528
20228,837,397(7,502,011)(10,234,980)(8,899,595)
20211,240,38915,104,31816,344,707
202010,678,868(9,288,898)(3,991,878)(2,601,908)
YearAverage Summary Compensation Table Total for Non-PEO NEOs
($)
Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs
($)
Average Inclusion of Equity Values for Non-PEO NEOs
($)
Average Compensation Actually Paid to Non-PEO NEOs
($)
(a)
(b)
(c)
(d) = (a) + (b) + (c)
20242,207,895(1,280,605)1,497,7552,425,045
20233,892,438(3,023,431)4,402,0455,271,052
20223,275,710(2,375,417)(1,648,669)(748,376)
2021718,1633,470,5964,188,759
20203,233,747(2,741,071)2,053,2832,545,959
       
Compensation Actually Paid vs. Total Shareholder Return
378
       
Compensation Actually Paid vs. Net Income
1855
       
Tabular List, Table
List of Most Important Financial Performance Measures
Net revenue was the sole financial performance measure that the Company used in linking compensation actually paid to our PEO and other NEOs for 2024 to Company performance.
       
Total Shareholder Return Amount $ 44.32 44.37 21.32 112.88 68.26
Peer Group Total Shareholder Return Amount 81.12 88.90 90.18 118.47 128.55
Net Income (Loss) $ 5,800,000 $ (78,000,000.0) $ (108,200,000) $ (181,000,000.0) $ (102,700,000)
Company Selected Measure Amount 235,100,000 175,500,000 134,000,000.0 45,600,000 50,100,000
PEO Name Peter Greenleaf        
Additional 402(v) Disclosure The amounts shown for compensation actually paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.        
Measure:: 1          
Pay vs Performance Disclosure          
Compensation Actually Paid vs. Other Measure
2713
       
PEO | Measure:: 1          
Pay vs Performance Disclosure          
Name Net revenue        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (4,825,917) $ (8,999,997) $ (7,502,011) $ 0 $ (9,288,898)
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 6,031,596 13,342,166 (10,234,980) 15,104,318 (3,991,878)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 7,425,760 8,999,997 2,799,360 0 7,762,704
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (30,559) 1,566,255 (5,421,035) 10,202,439 (7,270,230)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,363,605) 2,775,914 (7,613,305) 4,901,879 (4,484,352)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 0 0 0 0
Non-PEO NEO | Measure:: 1          
Pay vs Performance Disclosure          
Name Net revenue        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (1,280,605) (3,023,431) (2,375,417) 0 (2,741,071)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,497,755 4,402,045 (1,648,669) 3,470,596 2,053,283
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,924,311 3,023,431 701,513 0 2,449,340
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (15,673) 616,428 (656,801) 2,255,191 (235,061)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 95,426
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (410,883) 762,186 (941,151) 1,215,405 (256,422)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 (752,230) 0 0
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0 $ 0