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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Components of Share-Based Compensation Expense

The following table sets forth the share-based compensation for the periods presented:

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

Cost of goods sold

 

$

1,432

 

 

$

985

 

 

$

363

 

Research and development

 

 

39,600

 

 

 

43,449

 

 

 

25,750

 

Selling, general, and administrative

 

 

23,621

 

 

 

22,375

 

 

 

17,597

 

Restructuring costs

 

 

455

 

 

 

431

 

 

 

 

Total

 

$

65,108

 

 

$

67,240

 

 

$

43,710

 

 

Schedule of Profit Interest Activity

The following table sets forth the changes in the Company’s outstanding 2021 Omnibus Equity Incentive Plan non-option awards for the years ended December 31, 2025 and 2024:

 

 

 

Number of Shares

 

 

Weighted
average grant
date fair value

 

 

Shares Retained to Cover Statutory Minimum Withholding Taxes

Nonvested shares as of December 31, 2023

 

 

13,652,946

 

 

$

6.80

 

 

 

Granted

 

 

10,449,306

 

 

$

6.08

 

 

 

Vested

 

 

(7,565,367

)

 

$

6.76

 

 

Forfeited

 

 

(1,710,039

)

 

$

7.23

 

 

 

Nonvested shares as of December 31, 2024

 

 

14,826,846

 

 

$

7.09

 

 

 

Granted

 

 

15,265,807

 

 

$

3.63

 

 

 

Vested

 

 

(11,213,339

)

 

$

5.28

 

 

Forfeited

 

 

(3,133,046

)

 

$

7.09

 

 

 

Nonvested shares as of December 31, 2025

 

 

15,746,268

 

 

$

5.01

 

 

 

The following table sets forth the changes in the Company’s outstanding 2023 Inducement Plan non-option awards for the year ended December 31, 2025 and 2024:

 

 

 

Number of Shares

 

 

Weighted average grant date fair value

 

 

Shares Retained to Cover Statutory Minimum Withholding Taxes

Nonvested shares as of December 31, 2023

 

 

1,614,463

 

 

$

8.97

 

 

 

Granted

 

 

1,071,639

 

 

$

6.16

 

 

 

Vested

 

 

(548,986

)

 

$

8.75

 

 

Forfeited

 

 

(269,800

)

 

$

9.23

 

 

 

Nonvested shares as of December 31, 2024

 

 

1,867,316

 

 

$

7.48

 

 

 

Granted

 

 

1,351,300

 

 

$

4.01

 

 

 

Vested

 

 

(728,579

)

 

$

7.53

 

 

Forfeited

 

 

(306,723

)

 

$

6.35

 

 

 

Nonvested shares as of December 31, 2025

 

 

2,183,314

 

 

$

5.48

 

 

 

Schedule of Changes in Outstanding Options

The following table sets forth the changes in the Company’s outstanding options in the 2021 Plan for the years ended December 31, 2025 and 2024:

 

 

Options

 

 

Weighted-
average
exercise
price

 

 

Weighted-
average
remaining
contractual
term (years)

 

 

Aggregate
intrinsic
value

 

Outstanding at December 31, 2023

 

 

318,208

 

 

$

10.58

 

 

 

8.08

 

 

$

 

Granted

 

 

 

$

 

 

 

 

 

 

 

Exercised

 

 

 

$

 

 

 

 

 

 

 

Forfeited or expired

 

 

(17,743

)

 

$

6.60

 

 

 

 

 

 

 

Outstanding at December 31, 2024

 

 

300,465

 

 

$

10.82

 

 

 

7.06

 

 

$

 

Granted

 

 

 

$

 

 

 

 

 

 

 

Exercised

 

 

 

$

 

 

 

 

 

 

 

Forfeited or expired

 

 

(54,640

)

 

$

8.75

 

 

 

 

 

 

 

Outstanding at December 31, 2025

 

 

245,825

 

 

$

11.28

 

 

 

6.03

 

 

$

 

Exercisable at December 31, 2025

 

 

184,364

 

 

$

11.28

 

 

 

6.03

 

 

$

 

Vested or expected to vest

 

 

184,364

 

 

$

11.28

 

 

 

6.03

 

 

$

 

The following table sets forth the changes in the Company’s outstanding options for the years ended December 31, 2025 and 2024:

 

 

Options

 

 

Weighted-
average
exercise
price

 

 

Weighted-
average
remaining
contractual
term (years)

 

 

Aggregate
intrinsic
value

 

Outstanding at December 31, 2023

 

 

924,680

 

 

$

0.17

 

 

 

3.82

 

 

$

7,343

 

Exercised

 

 

(297,017

)

 

$

0.18

 

 

 

 

 

 

 

Forfeited or expired

 

 

 

 

$

 

 

 

 

 

 

 

Outstanding at December 31, 2024

 

 

627,663

 

 

$

0.16

 

 

 

2.81

 

 

$

2,470

 

Exercised

 

 

(117,885

)

 

$

0.05

 

 

 

 

 

 

 

Forfeited or expired

 

 

(6,388

)

 

$

3.59

 

 

 

 

 

 

 

Outstanding at December 31, 2025

 

 

503,390

 

 

$

0.16

 

 

 

1.80

 

 

$

1,718

 

Exercisable at December 31, 2025

 

 

503,390

 

 

$

0.16

 

 

 

1.80

 

 

$

1,718

 

Vested or expected to vest

 

 

503,390

 

 

$

0.16

 

 

 

1.80

 

 

$

1,718