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Share-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-based Payment Arrangement [Abstract] |
Share-based Compensation Expense Related To Share-based Payment Awards Excluding Acceleration of Antares Equity Awards | Total share-based compensation expense related to share-based awards excluding the acceleration of Antares equity awards was comprised of the following (in thousands):
|  | Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Research and development |  | $ | 9,903 |  |  | $ | 6,992 |  |  | $ | 5,484 |
Selling, general and administrative |  | 14,494 |  |  | 13,828 |  |  | 11,720 |
Share-based compensation expense |  | $ | 24,397 |  |  | $ | 20,820 |  |  | $ | 17,204 |
Share-based Compensation Expense By Type | Share-based compensation expense by type of share-based award (in thousands):
|  | Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Stock options |  | $ | 10,973 |  |  | $ | 10,252 |  |  | $ | 8,955 |
RSAs, RSUs, PSUs and ESPP |  | 13,424 |  |  | 10,568 |  |  | 8,249 |
|  | $ | 24,397 |  |  | $ | 20,820 |  |  | $ | 17,204 |
Total Unrecognized Estimated Compensation Cost By Type | Total unrecognized estimated compensation cost by type of award and the weighted-average remaining requisite service period over which such expense is expected to be recognized (in thousands, unless otherwise noted):
|  | December 31, 2022
|  | Unrecognized Expense |  | Remaining Weighted-Average Recognition Period (years)
Stock options |  | $ | 26,730 |  |  | 2.66
RSUs |  | $ | 26,488 |  |  | 2.32
PSUs |  | $ | 3,986 |  |  | 1.91
ESPP |  | $ | 247 |  |  | 0.45
Summary of Stock Option Award Activity | A summary of our stock option award activity as of and for the year ended December 31, 2022 is as follows:
|  | Shares Underlying Stock Options |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2021 |  | 4,965,374 |  |  | $20.76 |  |  |  |
Granted |  | 1,773,912 |  |  | $37.25 |  |  |  |
Exercised |  | (789,870) |  |  | $19.40 |  |  |  |
Canceled/forfeited |  | (581,191) |  |  | $33.87 |  |  |  |
Outstanding at December 31, 2022 |  | 5,368,225 |  |  | $24.99 |  | 6.48 |  | $171.3
Vested and expected to vest at December 31, 2022 |  | 5,368,225 |  |  | $24.99 |  | 6.48 |  | $171.3
Exercisable at December 31, 2022 |  | 3,176,691 |  |  | $17.22 |  | 4.92 |  | $126.0
Schedule of Valuation Assumptions | The assumptions used in the Black-Scholes model were as follows:
|  | Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Expected volatility |  | 39.91-50.81% |  | 41.01-46.45% |  | 47.57-51.82%
Average expected term (in years) |  | 4.7 |  | 4.7 |  | 5.1
Risk-free interest rate |  | 1.37-4.27% |  | 0.36-1.20% |  | 0.22-1.67%
Expected dividend yield |  | — |  |  | — |  |  | — |
Summary of RSU Activity | The following table summarizes our RSU activity during the year ended December 31, 2022:
|  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term (yrs) |  | Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2021 |  | 858,742 |  |  | $29.54 |  |  |  |
Granted |  | 706,096 |  |  | $39.18 |  |  |  |
Vested |  | (320,767) |  |  | $26.68 |  |  |  |
Forfeited |  | (204,690) |  |  | $35.69 |  |  |  |
Outstanding at December 31, 2022 |  | 1,039,381 |  |  | $35.76 |  | 1.25 |  | $59.1
Schedule of PSU Activity | The following table summarizes our PSU activity during the year ended December 31, 2022:
|  | Number of Shares |  | Weighted Average Grant Date Fair Value
Outstanding at December 31, 2021 |  | 69,382 |  |  | $40.66
Granted |  | 129,773 |  |  | $41.42
Vested |  | (2,565) |  |  | $63.41
Forfeited |  | (53,746) |  |  | $27.20
Outstanding at December 31, 2022 |  | 142,844 |  |  | $46.01

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