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Stock Based Compensation (Table)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
Stock-based compensation expense was classified in the Consolidated Statements of Operations as follows (in thousands):
Year Ended December 31,
202320222021
Selling, general and administrative
$3,277 $6,861 $1,135 
Research and development3,974 12,741 4,487 
Cost of goods sold
925 — — 
Total$8,176 $19,602 $5,622 
Schedule of Stock Option Activity
The following table summarizes option activity under the Plan:
 Options Weighted
Average
Exercise
Price
Weighted
Average
Contractual
Term (in
Years)
Balance as of December 31, 2021
17,695,560 $1.44 5.6
Granted495,700 10.15 
Exercised(213,048)2.13 
Forfeited(297,616)12.09 
Balance as of December 31, 2022
17,680,596 $1.51 4.7
Granted7,000 7.05 
Exercised(60,340)0.44 
Forfeited(387,041)11.87 
Balance as of December 31, 2023
17,240,215 $1.29 3.3
Schedule of Stock Options Valuation Assumptions
The fair value of each stock option grant under the Plan was estimated on the date of grant using the Black-Scholes option pricing model, with the following range of assumptions:
Year Ended
December 31,
20232022
Expected term (in years)6.36.3
Volatility
74.5% to 75.2%
74.9% to 76.4%
Dividend yield0.0%0.0%
Risk-free interest rate
3.4% to 4.0%
3.7% to 4.3%
Common stock price
$6.98 to $7.10
$6.95 to $7.99
Schedule of Additional Information Regarding Stock Options Exercisable
Additional information regarding stock options exercisable as of December 31, 2023 is summarized below:
Options Exercisable at December 31, 2023
Range of Exercise PriceNumberWeighted
Average
Exercise Price
Weighted
Average
Contractual
Term (in Years)
$0.06 - $24.48
17,240,215 $1.29 3.3
Schedule of RSU Activity
The following table summarizes RSU activity under the Plan:
 RSU AwardsWeighted Average Grant Date Fair Value
Unvested at December 31, 202117,174 $13.47 
Awarded494,091 10.25 
Vested(498,497)11.19 
Forfeited(1,016)11.46 
Unvested at December 31, 202211,752 $12.45 
Awarded24,009,880 2.14 
Vested(331,873)7.65 
Forfeited(487,519)4.76 
Unvested at December 31, 202323,202,240 $2.16