SHARE BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023 and 2022:

	Three Months Ended March 31,
	2023		2022
Research and development	$	7,177	$	7,494
Selling, general and administrative	9,983		17,832
Total stock-based compensation expense	$	17,160	$	25,326

Schedule of Stock Options, Valuation Assumptions

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

The valuation model utilized the following assumptions:

Risk-free interest rates	2.82		%
Expected volatility rates	63		%
Expected dividend yield	—
Cost of equity (for derived service period)	14.64		%
Weighted-average grant date fair value of options	$	2.51

Summary of Stock Option Outstanding

A summary of stock options outstanding, excluding LTIP Options as of March 31, 2023, and activity during the three months then ended, is presented below:

Stock Options	Shares (In thousands)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (In years)
Outstanding at December 31, 2022	6,775	$	0.59	6.20
Granted	—	—		—
Exercised	(512)	0.44		—
Forfeited or expired	(136)	1.06		—
Cancelled	—	—		—
Outstanding at March 31, 2023	6,127	$	0.61	6.20
Vested and Exercisable at March 31, 2023	5,015	$	0.51	5.90

Summary of Restricted Stock Unit, Outstanding

A summary of RSUs outstanding as of March 31, 2023, and activity during the three months then ended, is presented below:

	Shares (In thousands)	Weighted-Average Grant Date Fair Value Per Share
Outstanding at December 31, 2022	11,606	$	5.93
Granted	5,392	6.15
Vested	(1,707)	7.46
Forfeited	(67)	6.62
Outstanding at March 31, 2023	15,224	$	6.30