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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Fair Value of Options | The fair value of the stock options granted were estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |  |
|  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |
Expected stock price volatility |  | 55.4 | % |  | 56.6 | % |  | 55.5 | % |  | 57.2 | % |  |  |  |
Risk free interest rate |  | 4.0 | % |  | 4.3 | % |  | 4.3 | % |  | 4.0 | % |  |  |  |
Expected life of options (years) |  | 5.6 |  | 5.6 |  | 5.6 |  | 5.6 |  |  |  |
Expected annual dividend per share |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |
Schedule of Stock Options Activity | A summary of the Company's stock options for the six months ended June 30, 2025 were as follows:
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Years |  | Aggregate Intrinsic Value
|  | (in thousands) |  |  |  |  |  | (in millions)
Options outstanding, December 31, 2024 |  | 26,013 |  |  | $ | 12.11 |  |  |  |  |
Granted |  | 3,522 |  |  | $ | 8.60 |  |  |  |  |
Exercised |  | (19) |  |  | $ | 7.34 |  |  |  |  |
Forfeited |  | (272) |  |  | $ | 11.21 |  |  |  |  |
Expired |  | (973) |  |  | $ | 12.99 |  |  |  |  |
Options outstanding, June 30, 2025 |  | 28,271 |  |  | $ | 11.65 |  |  | 5.9 |  | $ | 0.4 |
Vested and non-vested expected to vest, June 30, 2025 |  | 27,036 |  |  | $ | 11.66 |  |  | 5.8 |  | $ | 0.4 |
Exercisable at June 30, 2025 |  | 19,534 |  |  | $ | 11.91 |  |  | 4.7 |  | $ | 0.4 |
Schedule of Non-Vested RSU Activity under the Plan | A summary of non-vested RSU activity for the six months ended June 30, 2025 is as follows:
|  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Years |  | Aggregate Intrinsic Value
|  | (in thousands) |  |  |  |  |  | (in millions)
Non-vested units as of December 31, 2024 |  | 8,277 |  |  | $ | 13.59 |  |  |  |  |
Granted |  | 7,234 |  |  | $ | 8.82 |  |  |  |  |
Vested |  | (2,283) |  |  | $ | 11.46 |  |  |  |  |
Forfeited |  | (519) |  |  | $ | 11.03 |  |  |  |  |
Non-vested units as of June 30, 2025 |  | 12,709 |  |  | $ | 11.13 |  |  | 2.6 |  | $ | 72.8 |
Schedule of Equity Compensation Expenses | The following table summarizes information related to compensation expense recognized in the Company's Consolidated Statements of Operations related to the equity awards:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Research and development expense |  | $ | 2,393 |  |  | $ | 3,061 |  |  | $ | 6,397 |  |  | $ | 7,932 |
Selling, general, and administrative expense |  | 15,166 |  |  | 13,136 |  |  | 36,334 |  |  | 39,068 |
Total equity compensation expense |  | $ | 17,559 |  |  | $ | 16,197 |  |  | $ | 42,731 |  |  | $ | 47,000 |

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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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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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