Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Options

The activity related to stock options during the three months ended March 31, 2025 consisted of the following:

	March 31, 2025
	Number of shares (in thousands)	Weighted-average exercise price $
Outstanding at December 31, 2024	9,276	$	10.92
Granted	2,189	7.56
Exercised/released	(59)	6.02
Cancelled/forfeited	(305)	7.27
Outstanding at March 31, 2025	11,101	$	10.39

Schedule of Estimated Fair Value of Stock Option

The following weighted-average assumptions were used to estimate the fair value of the options granted during the three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
	2025			2024
Expected volatility	78		%	77		%
Risk-free interest rate	4.00		%	4.04		%
Expected term (in years)	5.0			5.0
Expected dividend yield	0.0		%	0.0%
Fair value per common share option	$	4.95		$	4.62

Schedule of Performance Awards and Restricted Stock Units Activity

The activity related to performance awards and RSUs for the three months ended March 31, 2025 consisted of the following:

	March 31, 2025
	Number of shares (in thousands)	Weighted-average fair value price
Unvested balance, December 31, 2024	7,986	$	8.08
Granted	1,420	$	6.80
Vested	(2,612)	$	8.57
Forfeited	(1,867)	$	8.22
Unvested balance, March 31, 2025	4,927	$	7.40

Schedule of Share-based Compensation Expense

The classification of share-based compensation expense consisted of the following (in thousands):

	Three Months Ended  March 31,
	2025		2024
Research and development	$	93	$	(2,166)
Selling, general and administrative	(3,513)		7,537
Capitalized in inventory, net	11		366
Share-based compensation expense	$	(3,409)	$	5,737