XML 57 R41.htm IDEA: XBRL DOCUMENT v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
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):
Years Ended December 31,
202420232022
Incentive Plan$56,207 $44,581 $36,716 
Inducement Plan8,414 9,958 6,550 
ESPP792 1,076 1,435 
Stock-based compensation expense$65,413 $55,615 $44,701 
The following table summarizes stock option activity under the Incentive Plan:
Shares
(in thousands)		Weighted Average Exercise Price per ShareWeighted Average Remaining Contractual Term
(in years)		Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 202335,505 $8.24 
Granted7,106 7.32 
Exercised(350)4.56 $863 
Cancelled or Forfeited(3,179)9.99 
Outstanding at December 31, 202439,082 $7.96 6.71$30,075 
Exercisable at December 31, 202424,462 $7.99 5.29$24,280 
Vested and expected to vest at December 31, 202437,302 $7.95 6.61$29,384 
The following table summarizes stock option activity under the Inducement Plan:
Shares
(in thousands)		Weighted Average Exercise Price per ShareWeighted Average Remaining Contractual Term
(in years)		Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 20235,527 $8.77 
Granted522 6.40 
Exercised(198)3.45 $495 
Cancelled or Forfeited(693)10.98 
Outstanding at December 31, 20245,158 $8.44 6.94$7,354 
Exercisable at December 31, 20243,292 $7.70 6.17$6,543 
Vested and expected to vest at December 31, 20244,790 $8.31 6.85$7,218 
Stock-Based Compensation Allocation Total stock-based compensation was allocated as follows:
Years Ended December 31,
202420232022
Research and development$31,285 $29,377 $24,936 
Selling, general and administrative34,128 26,238 19,765 
Total stock-based compensation expense$65,413 $55,615 $44,701 
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table summarizes restricted stock unit activity under the Incentive Plan:
Shares
(in thousands)		Weighted Average Grant Date Fair Value
Unvested at December 31, 20235,592 $8.67 
Granted5,942 7.32 
Vested(1,686)9.12 
Forfeited(559)8.61 
Unvested at December 31, 20249,289 $7.73 
The following table summarizes restricted stock unit activity under the Inducement Plan:
Shares
(in thousands)		Weighted Average Grant Date Fair Value
Unvested at December 31, 2023915 $9.90 
Granted324 6.51 
Vested(216)10.25 
Forfeited(200)9.68 
Unvested at December 31, 2024823 $8.53 
Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors Under the Plans
Stock Incentive Plan
The following table summarizes the key assumptions used by the Company to value the stock option awards granted under the Incentive Plan during the years ended December 31, 2024, 2023, and 2022:
Years Ended December 31,
202420232022
Expected Life in Years5.75.75.5
Expected Volatility83.5 %82.5 %84.2 %
Expected Dividend Yield0.0 %0.0 %0.0 %
Risk-Free Interest Rate4.5 %3.9 %3.6 %
Weighted average grant date fair value per share$5.28 $4.75 $7.57 
Inducement Equity Incentive Plan
The following table summarizes the key assumptions used by the Company to value the stock option awards granted under the Inducement Plan during the years ended December 31, 2024, 2023, and 2022:
Years Ended December 31,
202420232022
Expected Life in Years5.85.65.5
Expected Volatility83.3 %83.5 %84.2 %
Expected Dividend Yield0.0 %0.0 %0.0 %
Risk-Free Interest Rate4.2 %4.0 %3.2 %
Weighted average grant date fair value per share$4.61 $5.79 $9.54