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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
Stock-Based Compensation Expense | The following table presents stock-based compensation expense in the Company’s condensed consolidated statements of comprehensive income:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | (Amounts in thousands) |
Cost of product revenue |  | $ | 522 |  |  | $ | 615 |  |  | $ | 1,113 |  |  | $ | 1,237 |
Research and development |  |  | 608 |  |  |  | 622 |  |  |  | 1,395 |  |  |  | 1,421 |
Selling, general and administrative |  |  | 4,353 |  |  |  | 5,748 |  |  |  | 10,229 |  |  |  | 12,242 |
Total stock-based compensation |  | $ | 5,483 |  |  | $ | 6,985 |  |  | $ | 12,737 |  |  | $ | 14,900 |
Summary of Option Activity | Information regarding option activity for the six months ended June 30, 2023 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, 2022 |  |  | 609,965 |  |  | $ | 71.74 |  |  |  |  |  |  |
Granted |  |  | 55,545 |  |  | $ | 175.75 |  |  |  |  |  |  |
Exercised |  |  | (4,650 | ) |  | $ | 13.30 |  |  |  |  |  |  |
Forfeited/expired/cancelled |  |  | (2,000 | ) |  | $ | 199.71 |  |  |  |  |  |  |
Options outstanding at June 30, 2023 |  |  | 658,860 |  |  | $ | 80.53 |  |  |  |  |  |  |
Options exercisable at June 30, 2023 |  |  | 387,604 |  |  | $ | 58.94 |  |  |  |  |  |  |
Vested and expected to vest at June 30, 2023(1) |  |  | 644,427 |  |  | $ | 80.08 |  |  |  | 5.77 |  |  | $ | 47,205 |
(1) Represents the number of vested options as of June 30, 2023 plus the number of unvested options expected to vest as of June 30, 2023 based on the unvested outstanding options at June 30, 2023 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 RSUs and performance stock units, for the six months ended June 30, 2023 under the Plans is summarized below:
|  | Shares |  |  | Weighted Average Grant Date Fair Value |  |
Unvested at December 31, 2022 |  |  | 531,034 |  |  | $ | 142.57 |  |
Awarded |  |  | 158,084 |  |  | $ | 176.86 |  |
Vested |  |  | (156,784 | ) |  | $ | 115.85 |  |
Forfeited/cancelled |  |  | (39,397 | ) |  | $ | 182.56 |  |
Unvested at June 30, 2023 |  |  | 492,937 |  |  | $ | 157.94 |  |
Vested and expected to vest at June 30, 2023(1) |  |  | 432,340 |  |  | $ | 154.21 |  |
Represents the number of vested stock units as of June 30, 2023 plus the number of unvested stock units expected to vest as of June 30, 2023 based on the unvested outstanding stock units at June 30, 2023 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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