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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Stock-Based Compensation Expense | The following table presents stock-based compensation expense in the Company’s condensed consolidated statements of comprehensive income (loss):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (Amounts in thousands) |
Cost of goods sold |  | $ | 396 |  |  | $ | 393 |  |  | $ | 1,498 |  |  | $ | 1,506 |
Research and development |  |  | 887 |  |  |  | 700 |  |  |  | 2,335 |  |  |  | 2,095 |
Selling, general and administrative(1) |  |  | 21,772 |  |  |  | 5,280 |  |  |  | 37,878 |  |  |  | 15,509 |
Total stock-based compensation |  | $ | 23,055 |  |  | $ | 6,373 |  |  | $ | 41,711 |  |  | $ | 19,110 |
(1) Selling, general and administrative stock-based compensation for the three and nine months ended September 30, 2024 includes $17.4 million and $22.4 million of expense related to the Equity Modification discussed above.
Summary of Option Activity | Information regarding option activity for the nine months ended September 30, 2024 under the Plans is summarized below:
|  | Shares |  |  | Weighted average exercise price |  |  | Weighted- Average Remaining Contractual Term (in Years) |  |  | Aggregate Intrinsic Value (in Thousands) |
Options outstanding at December 31, 2023 |  |  | 649,130 |  |  | $ | 85.97 |  |  |  |  |  |  |
Granted |  |  | 77,014 |  |  | $ | 175.60 |  |  |  |  |  |  |
Exercised |  |  | (43,725 | ) |  | $ | 54.11 |  |  |  |  |  |  |
Forfeited/expired/cancelled(1) |  |  | (32,027 | ) |  | $ | 195.78 |  |  |  |  |  |  |
Options outstanding at September 30, 2024 |  |  | 650,392 |  |  | $ | 93.31 |  |  |  |  |  |  |
Options exercisable at September 30, 2024 |  |  | 398,851 |  |  | $ | 76.47 |  |  |  |  |  |  |
Vested and expected to vest at September 30, 2024(2) |  |  | 644,688 |  |  | $ | 92.66 |  |  |  | 5.31 |  |  | $ | 43,311 |
(1) Includes 13,057 options forfeited pursuant to the 2024 Award Amendment discussed above under “Chief Executive Officer Accounting Modifications”. (2) Represents the number of vested options as of September 30, 2024 plus the number of unvested options expected to vest as of September 30, 2024 based on the unvested outstanding options at September 30, 2024 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.
Summary of Restricted Stock Unit Activity | Information regarding stock unit activity, which includes activity for restricted stock units and performance stock units, for the nine months ended September 30, 2024 under the Plans is summarized below:
|  | Shares |  |  | Weighted Average Grant Date Fair Value |  |
Unvested at December 31, 2023 |  |  | 474,320 |  |  | $ | 155.59 |  |
Awarded |  |  | 221,584 |  |  | $ | 180.02 |  |
Vested(1) |  |  | (137,072 | ) |  | $ | 144.80 |  |
Forfeited/cancelled(2) |  |  | (82,452 | ) |  | $ | 190.45 |  |
Unvested at September 30, 2024 |  |  | 476,380 |  |  | $ | 164.04 |  |
Vested and expected to vest at September 30, 2024(3) |  |  | 415,171 |  |  | $ | 162.37 |  |
(1) Includes 1,462 stock units that had vested but not settled as of September 30, 2024. (2) Includes 13,146 RSUs and 6,573 PSUs forfeited pursuant to the 2024 Award Amendment discussed above under ”Chief Executive Officer Accounting M odifications”. (3) Represents the number of vested stock units as of September 30, 2024 plus the number of unvested stock units expected to vest as of September 30, 2024 based on the unvested outstanding stock units at September 30, 2024 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

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