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STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended
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Jun. 30, 2025
STOCKHOLDERS' EQUITY [Abstract] |
Schedule Common stock repurchase | A summary of common stock repurchase activity under the Repurchase Program is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2025 |  |  | 2024 |  |  |  | 2025 |  |  | 2024 |
Shares repurchased |  | 816 |  |  | n/a |  |  |  | 816 |  |  | n/a |
Total cost of shares repurchased | $ | 15,148 |  |  | n/a |  |  | $ | 15,148 |  |  | n/a |
Schedule of Assumptions | The following assumptions were used to determine the fair value of options granted during the six months ended June 30, 2025 and 2024:
| Six Months Ended June 30,
|  | 2025 |  |  |  | 2024 |
Expected term |  | 5.5 - 6.3 years |  |  |  | 5.5 - 6.3 years |
Volatility |  | 66 | % |  |  | 66 | %
Dividend yield |  | 0.0 |  |  |  | 0.0 |
Risk-free interest rate |  | 4.40 | % |  |  | 4.29-4.34 | %
Schedule of Option Activity | A summary of the Company’s option activity under the Company’s equity incentive plans and related information is as follows:
|  | Shares |  |  |  | Weighted- Average Exercise Price |
Options outstanding, vested and expected to vest at December 31, 2024 |  | 5,141,516 |  |  | $ | 3.90 |
Forfeited |  | (203,985 | ) |  | $ | 3.20 |
Expired |  | (2,164 | ) |  | $ | 2.34 |
Granted |  | 683,720 |  |  | $ | 16.10 |
Exercised |  | (802,544 | ) |  | $ | 3.60 |
Options outstanding, vested and expected to vest at June 30, 2025 |  | 4,816,543 |  |  | $ | 5.80 |
Options exercisable |  | 2,627,230 |  |  | $ | 3.50 |
Schedule of Unvested RSU Activity | The Company’s RSUs generally vest annually over a period of four years for employees and semi-annually over a period of one year for directors. A summary of the Company’s unvested RSU activity and related information is as follows:
|  | Shares |  |  |  | Weighted- Average Grant Date Fair Value |
Balance at December 31, 2024 |  | 5,745,990 |  |  | $ | 5.50 |
Granted |  | 1,775,774 |  |  | $ | 16.30 |
Vested |  | (1,620,430 | ) |  | $ | 4.25 |
Forfeited |  | (403,492 | ) |  | $ | 7.53 |
Balance at June 30, 2025 |  | 5,497,842 |  |  | $ | 9.20 |
Schedule of Stock-Based Compensation Expense | Total stock-based compensation expense for all awards granted under the Company’s equity incentive plans for the three and six months ended June 30, 2025 and 2024 was as follows:
| Three Months Ended June 30, | Six Months Ended June 30,
(in thousands) |  | 2025 |  |  |  | 2024 |  |  |  | 2025 |  |  |  | 2024 |
Research and development | $ | 51 |  |  | $ | 24 |  |  | $ | 90 |  |  | $ | 41 |
Plasma center operating expenses |  | 101 |  |  |  | 48 |  |  |  | 178 |  |  |  | 87 |
Selling, general and administrative |  | 3,955 |  |  |  | 2,405 |  |  |  | 7,828 |  |  |  | 4,246 |
Cost of product revenue |  | 856 |  |  |  | 386 |  |  |  | 1,491 |  |  |  | 630 |
Total stock-based compensation expense | $ | 4,963 |  |  | $ | 2,863 |  |  | $ | 9,587 |  |  | $ | 5,004 |

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 25 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481138/505-30-25-5 + Details
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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (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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