Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation

Stock-based compensation was recorded in the condensed consolidated statements of operations and comprehensive loss as shown in the following table:

	Three Months Ended March 31,
(in thousands)	2022		2021
Cost of assay services revenue	$	291	$	89
Cost of product revenue	7		1
Research and development	1,732		703
Selling, general and administrative	6,641		2,459
Total stock-based compensation	$	8,671	$	3,252

Summary of Stock Option and RSU Activity

The following table summarizes our award activity for stock options and RSUs for the three months ended March 31, 2022:

	Stock Options(1)	RSUs(2)
Outstanding as of December 31, 2021	19,702,845	—
Granted	4,364,402	557,756
Exercised	(624,685)	—
Forfeited	(303,040)	(4,563)
Expired	—	n/a
Outstanding as of March 31, 2022	23,139,522	553,193

(1)    The stock options generally vest over four years, with 25% vesting upon the first-year anniversary of the grant date and the remaining options vesting ratably each month thereafter.

(2)    The RSUs vest subject to the satisfaction of service requirements. The grant date fair values of these awards are determined based on the closing price of our Common Stock on the date of grant.