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Equity Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
Total stock-based compensation expense by function was as follows (in millions):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Research and development
$44 $32 $73 $63 
Selling, general, and administrative
11 16 11 
Total
$55 $38 $89 $74 
Schedule of Restricted Stock Unit Activity
RSU activity under the Plan and the 2017 Plan was as follows (in millions, except per share amounts):
Number of
shares
Weighted-
average grant
date fair value
Unvested at December 31, 2024
76 $2.67 
Granted
51 7.44 
Vested(30)4.24 
Forfeited
(6)3.18 
Unvested at June 30, 2025
91 $4.80 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
Stock options granted under the Plan during the six months ended June 30, 2025 were as follows:
Six Months Ended
June 30, 2025
Stock options granted (in millions)
Weighted average grant date fair value$6.48 
Weighted average grant date fair value assumptions:
Expected term
6.2 years
Risk-free interest rates
4.3 %
Expected volatility88.8 %
Schedule of Share-Based Payment Arrangement, Option, Activity
Stock option activity under the Plan and the 2017 Plan was as follows (in millions, except per share amounts):
Number of
shares
Weighted
average
exercise price
Weighted average remaining contractual term (in years)Aggregate intrinsic value
Outstanding at December 31, 2024
117 $2.07 
Granted8.47 
Exercised
(13)2.08 
Forfeited
(4)2.05 
Outstanding at June 30, 2025
102 $2.19 7.1$310 
Exercisable at June 30, 2025
61 $1.81 6.2$204