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

The following is a summary of stock option activity during the nine months ended September 30, 2022:

 

 

 

Options Outstanding

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Life (years)

 

 

Aggregate
Intrinsic
Value

 

Balance—January 1, 2022

 

 

522,905

 

 

$

9.25

 

 

 

6.77

 

 

$

25,971

 

Options granted

 

 

 

 

$

 

 

 

 

 

$

 

Options exercised

 

 

 

 

$

 

 

 

 

 

$

 

Options cancelled

 

 

(154,309

)

 

$

9.24

 

 

 

 

 

$

 

Balance—September 30, 2022

 

 

368,596

 

 

$

9.26

 

 

 

6.14

 

 

$

 

Exercisable as of September 30, 2022

 

 

368,596

 

 

$

9.26

 

 

 

6.14

 

 

$

 

Vested and expected to vest as of September 30, 2022

 

 

368,596

 

 

$

9.26

 

 

 

6.14

 

 

$

 

Summary of Restricted Stock Award Activity

A summary of restricted stock award activity within the Company’s equity plans and changes for the nine months ended September 30, 2022 is as follows:

 

Restricted Stock Awards

 

Shares

 

 

Weighted
Average Grant-
Date Fair Value

 

Nonvested at January 1, 2022

 

 

2,106,180

 

 

$

14.94

 

Granted

 

 

4,350,642

 

 

$

3.17

 

Vested

 

 

(1,622,006

)

 

$

8.31

 

Forfeited

 

 

(233,561

)

 

$

14.79

 

Nonvested at September 30, 2022

 

 

4,601,255

 

 

$

5.25

 

Summary of Total Stock-based Compensation Expense by Function The following table summarizes the total stock-based compensation expense by function, including expense related to consultants, for the three and nine months ended September 30, 2021 and 2022:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2022

 

 

2021

 

 

2022

 

 

 

(in thousands)

 

 

(in thousands)

 

Sales and distribution expenses

 

$

2,444

 

 

$

999

 

 

$

4,968

 

 

$

4,228

 

Research and development expenses

 

 

1,776

 

 

 

511

 

 

 

3,880

 

 

 

1,418

 

General and administrative expenses

 

 

5,350

 

 

 

1,433

 

 

 

12,482

 

 

 

6,208

 

Total stock-based compensation expense

 

$

9,570

 

 

$

2,943

 

 

$

21,330

 

 

$

11,854