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STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 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 September 30,									Nine Months Ended September 30,
	2025						2024			2025					2024
(In thousands)
Shares repurchased			512				n/a					1,329				n/a
Total cost of shares repurchased		$	8,040				n/a				$	23,188				n/a

Schedule of Assumptions

The following assumptions were used to determine the fair value of options granted during the nine months ended September 30, 2025 and 2024:

		Nine Months ended September 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	%			4.16-4.34	%

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			(205,024	)		$	2.78
Expired			(1,125	)		$	2.21
Granted			683,720			$	16.10
Exercised			(920,007	)		$	3.38
Options outstanding, vested and expected to vest at September 30, 2025			4,699,080			$	5.83
Options exercisable			2,758,497			$	3.78

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			1,874,865			$	16.35
Vested			(1,839,902	)		$	5.19
Forfeited			(552,689	)		$	8.71
Balance at September 30, 2025			5,228,264			$	9.16

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 nine months ended September 30, 2025 and 2024 was as follows:

		Three Months ended September 30,								Nine Months ended September 30,
(in thousands)		2025				2024				2025				2024
Research and development		$	54			$	24			$	145			$	65
Plasma center operating expenses			132				44				310				131
Selling, general and administrative			3,935				2,714				11,762				6,960
Cost of product revenue			926				397				2,417				1,027
Total stock-based compensation expense		$	5,047			$	3,179			$	14,634			$	8,183

X

- 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.

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