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SHARE BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The following table summarizes the stock-based compensation expense recognized for the three months ended March 31, 2022 and 2021:

(In thousands)March 31, 2022March 31, 2021
Net revenues$— $113 
Research and development7,494 $206 
Selling, general and administrative17,832 $1,516 
Total stock-based compensation expense$25,326 $1,835 
Schedule of Stock Options, Valuation Assumptions The fair value of incentive stock options and non-statutory stock options issued was estimated using the Black-Scholes model with the following weighted-average assumptions used during the three months ended March 31, 2021. The Company did not grant any awards during the three months ended March 31, 2022.
March 31, 2021
Risk-free interest rates
0.42 %
Expected volatility rates
44 %
Expected dividend yield
— 
Expected term (in years)
6
Weighted-average grant date fair value of options
$0.48 
The valuation model utilized the following assumptions:
Risk-free interest rates
1.47 %
Expected volatility rates
58 %
Expected dividend yield
— 
Cost of equity (for derived service period)
9.96 %
Weighted-average grant date fair value of options
$8.13 
Summary of Stock Option Outstanding
A summary of stock options outstanding, excluding LTIP options as of March 31, 2022, and activity during the three months then ended, is presented below:
Stock OptionsShares
(In thousands)		Exercise Price Per ShareWeighted-
Average
Exercise
Price		Remaining Weighted-
Average
Remaining
Contractual
Term
(In years)		Per Share Average Intrinsic Value
Outstanding at December 31, 202111,253 
$.08 - $1.06
$0.51 6.80$9.75 
Granted
— — — — — 
Exercised
(1,721)
$.08 - $1.06
0.30 — 9.98 
Forfeited or expired
(2)$1.061.06 — 9.22 
Cancelled
(1)$1.061.06 — 9.22 
Outstanding at March 31, 20229,529 
$.08 - $1.06
$0.56 7.06$9.72 
Vested and Exercisable at March 31, 20227,064 
$.08 - $1.06
$0.40 6.56$9.88 
Summary of Restricted Stock Unit, Outstanding
A summary of RSUs outstanding as of March 31, 2022, and activity during the three months then ended, is presented below:

Restricted Stock Unit AwardsShares
(In thousands)		Weighted-Average
Grant Date Fair
Value Per Share
Outstanding at December 31, 20214,468 $9.62 
Granted3,535 10.72 
Vested(740)9.63 
Forfeited(17)17.95 
Outstanding at March 31, 20227,246 $10.15