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Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award

The Company recorded the following stock-based compensation expense (in thousands):

			Six Months Ended June 30,
			2023						2022
Incentive Plan			$	21,297					$	15,867
Inducement Plan			4,720						2,965
ESPP			831						636
Stock-based compensation expense			$	26,848					$	19,468

Stock Plan Activities

Related activity under the Incentive Plan is as follows:

			Awards Available						Options Outstanding						Weighted Average Exercise Price
Balance December 31, 2022			4,206						31,179						$	8.56
Plan amendment			7,000						—						—
Restricted stock unit awards granted			(314)						—						—
Restricted stock unit awards cancelled			417						—						—
Stock option awards granted			(618)						618						9.01
Stock option awards exercised			—						(775)						5.25
Stock option awards cancelled			810						(810)						10.12
Balance June 30, 2023			11,501						30,212						$	8.61

Related activity under the Inducement Plan is as follows:

			Awards Available						Options Outstanding						Weighted Average Exercise Price
Balance December 31, 2022			947						5,341						$	8.80
Restricted stock unit awards granted			(325)						—						—
Restricted stock unit awards cancelled			61						—						—
Stock option awards granted			(801)						801						9.00
Stock option awards exercised			—						(330)						3.65
Stock option awards cancelled			460						(460)						9.97
Balance June 30, 2023			342						5,352						$	9.04

Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors Under the Plans

Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors under the Incentive and Inducement Plans

			2023						2022
Expected Life in Years			5.5						5.5
Expected Volatility			84.3		%				84.1		%
Expected Dividend Yield			0.0		%				0.0		%
Risk-Free Interest Rate			3.8		%				2.5		%

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Tabular disclosure of share-based payment arrangement.

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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-1

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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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.

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