XML 43 R31.htm IDEA: XBRL DOCUMENT v3.24.3
Stock-based Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
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):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Incentive Plan$14,794 $9,637 $37,294$30,934 
Inducement Plan2,234 2,626 6,2417,346 
ESPP221 16 539847 
Stock-based compensation expense$17,249 $12,279 $44,074 $39,127 
The following table summarizes stock option activity under the Incentive Plan:
Shares
(in thousands)		Weighted Average Exercise Price per ShareWeighted Average Remaining Contractual Term
(in years)		Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 202335,505 $8.24 
Granted461 6.30 
Exercised(338)4.54 $831 
Cancelled or Forfeited(2,226)9.58 
Outstanding at September 30, 202433,402 $8.16 6.15$30,476 
Exercisable at September 30, 202420,530 $7.88 4.87$23,568 
Vested and expected to vest at September 30, 202431,484 $8.11 6.08$29,732 
The following table summarizes stock option activity under the Inducement Plan:
Shares
(in thousands)		Weighted Average Exercise Price per ShareWeighted Average Remaining Contractual Term
(in years)		Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 20235,527 $8.77 
Granted433 6.15 
Exercised(180)3.56 $407 
Cancelled or Forfeited(623)10.69 
Outstanding at September 30, 20245,157 $8.50 7.14$7,665 
Exercisable at September 30, 20243,089 $7.61 6.34$6,573 
Vested and expected to vest at September 30, 20244,751 $8.36 7.05$7,473 
Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors Under the Plans
Stock Incentive Plan
The following table summarizes the key assumptions used by the Company to value the stock option awards granted under the Incentive Plan during the nine months ended September 30, 2024 and 2023:
Nine Months Ended September 30,
20242023
Expected Life in Years5.85.5
Expected Volatility83.7 %84.3 %
Expected Dividend Yield0.0 %0.0 %
Risk-Free Interest Rate4.3 %3.9 %
Weighted average grant date fair value per share$4.56 $6.40 
Inducement Equity Incentive Plan
The following table summarizes the key assumptions used by the Company to value the stock option awards granted under the Inducement Plan during the nine months ended September 30, 2024 and 2023:
Nine Months Ended September 30,
20242023
Expected Life in Years5.85.6
Expected Volatility83.4 %83.8 %
Expected Dividend Yield0.0 %0.0 %
Risk-Free Interest Rate4.2 %3.9 %
Weighted average grant date fair value per share$4.43 $6.14 
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table summarizes restricted stock unit activity under the Incentive Plan:
Shares
(in thousands)		Weighted Average Grant Date Fair Value
Unvested at December 31, 20235,592 $8.67 
Granted259 5.80 
Vested(259)9.75 
Forfeited(529)8.63 
Unvested at September 30, 20245,063 $8.47 
The following table summarizes restricted stock unit activity under the Inducement Plan:
Shares
(in thousands)		Weighted Average Grant Date Fair Value
Unvested at December 31, 2023915 $9.90 
Granted263 6.25 
Vested(162)10.39 
Forfeited(197)9.74 
Unvested at September 30, 2024819 $8.67