XML 63 R29.htm IDEA: XBRL DOCUMENT v3.22.4
Stock Incentive Plans and Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Stock Option Activity The following table summarizes all stock option activity for the year ended December 31, 2022:

 

In thousands (except per share amounts and years)

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term

 

Aggregate
Intrinsic
Value

 

Outstanding as of January 1, 2022

 

 

18,493

 

 

$

7.32

 

 

 

 

 

 

Granted

 

 

5,038

 

 

 

2.56

 

 

 

 

 

 

Forfeited

 

 

(4,105

)

 

 

8.39

 

 

 

 

 

 

Expired

 

 

(211

)

 

 

11.65

 

 

 

 

 

 

Exercised

 

 

(33

)

 

 

1.79

 

 

 

 

 

 

Outstanding as of December 31, 2022

 

 

19,182

 

 

 

5.80

 

 

6.2 years

 

$

158

 

Exercisable as of December 31, 2022

 

 

12,888

 

 

 

6.80

 

 

4.9 years

 

$

86

 

Vested and expected to vest as of December 31, 2022

 

 

18,867

 

 

 

5.83

 

 

6.2 years

 

$

155

 

Available for future grant as of December 31, 2022

 

 

15,383

 

 

 

 

 

 

 

 

 

Assumptions Used to Estimate Fair Value of Share-Based Payment Awards

For 2022, 2021, and 2020, the Company used the following assumptions to estimate the fair value of share-based payment awards:

 

 

 

2022

 

2021

 

2020

Risk-free interest rate

 

1.64% - 4.35%

 

0.53% - 1.36%

 

0.33% - 1.74%

Expected dividend yield

 

0.00%

 

0.00%

 

0.00%

Expected option life (years)

 

6.25

 

6.25

 

6.25

Expected volatility

 

96% - 101%

 

96% - 99%

 

84% - 99%

Restricted Stock Unit Activity

The following table presents the restricted stock unit activity for the year ended December 31, 2022 :

 

In thousands (except per share amounts)

 

Shares

 

 

Weighted Average
Grant Date Fair
Value

 

Outstanding as of January 1, 2022

 

 

9,277

 

 

 

7.70

 

Granted

 

 

12,587

 

 

 

2.97

 

Vested

 

 

(1,940

)

 

 

7.30

 

Forfeited

 

 

(5,463

)

 

 

6.79

 

Outstanding as of December 31, 2022

 

 

14,461

 

 

$

3.98

 

Stock-Based Compensation Expense Related to Option Awards

The following table presents the stock-based compensation expense related to stock-based awards for the years ended December 31, 2022, 2021, and 2020:

 

In thousands

 

2022

 

 

2021

 

 

2020

 

Research and development

 

$

4,465

 

 

$

4,327

 

 

$

6,568

 

Selling, general and administrative

 

 

22,339

 

 

 

32,305

 

 

 

39,245

 

Restructuring

 

 

(591

)

 

 

306

 

 

 

 

Stock-based compensation expense

 

$

26,213

 

 

$

36,938

 

 

$

45,813