Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award

The Company recorded the following stock-based compensation expense (in thousands):

	Three Months Ended March 31,
	2023		2022
Incentive Plan	$	11,061	$	8,078
Inducement Plan	2,475		1,225
ESPP	471		298
Stock-based compensation expense	$	14,007	$	9,601

Stock Plan Activities

Related activity under the Incentive Plan is as follows:

	Awards Available	Options Outstanding	Weighted Average Exercise Price
Balance December 31, 2022	4,206	31,179	$	8.56
Restricted stock unit awards granted	(146)	—	—
Restricted stock unit awards cancelled	313	—	—
Stock option awards granted	(215)	215	10.55
Stock option awards exercised	—	(529)	5.52
Stock option awards cancelled	437	(437)	10.32
Balance March 31, 2023	4,595	30,428	$	8.60

Related activity under the Inducement Plan is as follows:

	Awards Available	Options Outstanding	Weighted Average Exercise Price
Balance December 31, 2022	947	5,341	$	8.80
Restricted stock unit awards granted	(193)	—	—
Restricted stock unit awards cancelled	21	—	—
Stock option awards granted	(522)	522	9.66
Stock option awards exercised	—	(173)	3.36
Stock option awards cancelled	260	(260)	8.62
Balance March 31, 2023	513	5,430	$	9.06

Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors Under the Plans

Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors under the Incentive and Inducement Plans

	2023		2022
Expected Life in Years	5.5		5.5
Expected Volatility	84.2	%	84.1	%
Expected Dividend Yield	0.0	%	0.0	%
Risk-Free Interest Rate	3.7	%	1.9	%