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Stock-based Compensation Expense (Tables) | 9 Months Ended
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Sep. 30, 2023
Stock-based Compensation Expense [Abstract] |
Weighted-Average Assumptions for Stock Options | Employee Stock Options:
|  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |
Risk-free interest rate |  |  | 3.7 | % |  |  | 1.9 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Volatility |  |  | 47.1 | % |  |  | 54.9 | %
Expected life |  | 6.3 years |  |  | 6.3 years |
Ionis Board of Director Stock Options:
|  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |
Risk-free interest rate |  |  | 3.8 | % |  |  | 2.9 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Volatility |  |  | 53.0 | % |  |  | 56.2 | %
Expected life |  | 7.7 years |  |  | 7.4 years |
Weighted-Average Assumptions for ESPP | ESPP:
|  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |
Risk-free interest rate |  |  | 5.3 | % |  |  | 1.2 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Volatility |  |  | 36.0 | % |  |  | 50.1 | %
Expected life |  | 6 months |  |  | 6 months |
Stock-Based Compensation Expense | The following table summarizes stock-based compensation expense for the three and nine months ended September 30, 2023 and 2022 (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Cost of sales |  | $ | 118 |  |  | $ | 163 |  |  | $ | 355 |  |  | $ | 376 |
Research, development and patent expense |  |  | 18,727 |  |  |  | 17,733 |  |  |  | 57,543 |  |  |  | 55,315 |
Selling, general and administrative expense |  |  | 7,119 |  |  |  | 5,941 |  |  |  | 21,575 |  |  |  | 18,884 |
Total stock-based compensation expense |  | $ | 25,964 |  |  | $ | 23,837 |  |  | $ | 79,473 |  |  | $ | 74,575 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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