Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Stock-Based Compensation Expense

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Amounts in thousands)
Cost of goods sold	$	396	$	393	$	1,498	$	1,506
Research and development		887		700		2,335		2,095
Selling, general and administrative(1)		21,772		5,280		37,878		15,509
Total stock-based compensation	$	23,055	$	6,373	$	41,711	$	19,110

(1)Selling, general and administrative stock-based compensation for the three and nine months ended September 30, 2024 includes $17.4 million and $22.4 million of expense related to the Equity Modification discussed above.

Summary of Option Activity

Information regarding option activity for the nine months ended September 30, 2024 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, 2023		649,130		$	85.97
Granted		77,014		$	175.60
Exercised		(43,725	)	$	54.11
Forfeited/expired/cancelled(1)		(32,027	)	$	195.78
Options outstanding at September 30, 2024		650,392		$	93.31
Options exercisable at September 30, 2024		398,851		$	76.47
Vested and expected to vest at September 30, 2024(2)		644,688		$	92.66		5.31	$	43,311

(1)Includes 13,057 options forfeited pursuant to the 2024 Award Amendment discussed above under “Chief Executive Officer Accounting Modifications”.

(2)Represents the number of vested options as of September 30, 2024 plus the number of unvested options expected to vest as of September 30, 2024 based on the unvested outstanding options at September 30, 2024 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, 2024 under the Plans is summarized below:

	Shares			Weighted Average Grant Date Fair Value
Unvested at December 31, 2023		474,320		$	155.59
Awarded		221,584		$	180.02
Vested(1)		(137,072	)	$	144.80
Forfeited/cancelled(2)		(82,452	)	$	190.45
Unvested at September 30, 2024		476,380		$	164.04
Vested and expected to vest at September 30, 2024(3)		415,171		$	162.37

(1)Includes 1,462 stock units that had vested but not settled as of September 30, 2024.

(2)Includes 13,146 RSUs and 6,573 PSUs forfeited pursuant to the 2024 Award Amendment discussed above under ”Chief Executive Officer Accounting Modifications”.

(3)Represents the number of vested stock units as of September 30, 2024 plus the number of unvested stock units expected to vest as of September 30, 2024 based on the unvested outstanding stock units at September 30, 2024 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.