Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Stock-Based Compensation Expense

The following table presents stock-based compensation expense in the Company’s condensed consolidated statements of comprehensive income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(Amounts in thousands)
Cost of product revenue	$	393	$	610	$	1,506	$	1,847
Research and development		700		534		2,095		1,955
Selling, general and administrative		5,280		5,010		15,509		17,252
Total stock-based compensation	$	6,373	$	6,154	$	19,110	$	21,054

Summary of Option Activity

Information regarding option activity for the nine months ended September 30, 2023 under the Plans is summarized below:

	Shares			Weighted average exercise price		Weighted- Average Remaining Contractual Term (in Years)		Aggregate Intrinsic Value (in Thousands)
Options outstanding at December 31, 2022		609,965		$	71.74
Granted		66,069		$	173.08
Exercised		(22,872	)	$	15.52
Forfeited/expired/cancelled		(2,000	)	$	199.71
Options outstanding at September 30, 2023		651,162		$	83.60
Options exercisable at September 30, 2023		371,782		$	61.46
Vested and expected to vest at September 30, 2023(1)		637,673		$	83.18		5.73	$	53,173

(1)Represents the number of vested options as of September 30, 2023 plus the number of unvested options expected to vest as of September 30, 2023 based on the unvested outstanding options at September 30, 2023 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

Summary of Restricted Stock Unit Activity

Information regarding stock unit activity, which includes activity for restricted stock units and performance stock units, for the nine months ended September 30, 2023 under the Plans is summarized below:

	Shares			Weighted Average Grant Date Fair Value
Unvested at December 31, 2022		531,034		$	142.57
Awarded		175,475		$	174.86
Vested		(173,714	)	$	118.70
Forfeited/cancelled		(53,920	)	$	179.53
Unvested at September 30, 2023		478,875		$	188.41
Vested and expected to vest at September 30, 2023(1)		411,646		$	153.79

(1)Represents the number of vested stock units as of September 30, 2023 plus the number of unvested stock units expected to vest as of September 30, 2023 based on the unvested outstanding stock units at September 30, 2023 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.