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Stock-based Compensation (Tables)
 9 Months Ended
Sep. 30, 2025
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,
2025202420252024
Incentive Plan$16,232$14,794$54,841$37,294
Inducement Plan2,1792,2345,8526,241
ESPP233221623539
Total stock-based compensation costs18,64417,24961,31644,074
Capitalized stock-based compensation costs(43)—(43)—
Total stock-based compensation costs included in operating expenses$18,601$17,249$61,273$44,074
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, 202439,082 $7.96 
Granted538 9.31 
Exercised(897)5.36 $3,290 
Cancelled or Forfeited(1,924)9.99 
Outstanding at September 30, 202536,799 $7.94 6.10$28,966 
Exercisable at September 30, 202523,314 $7.92 4.74$23,388 
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, 20245,158 $8.44 
Granted96 8.07 
Exercised(252)5.65 $994 
Cancelled or Forfeited(279)11.31 
Outstanding at September 30, 20254,723 $8.41 6.20$6,940 
Exercisable at September 30, 20253,519 $8.18 5.60$6,324 
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, 20249,289 $7.73 
Granted393 9.17 
Vested(270)8.25 
Forfeited(667)7.64 
Unvested at September 30, 20258,745 $7.60 
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, 2024823 $8.53 
Granted472 8.47 
Vested(197)9.16 
Forfeited(99)8.33 
Unvested at September 30, 2025999 $8.39 
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, 2025 and 2024.
Nine Months Ended September 30,
20252024
Expected Life in Years6.25.8
Expected Volatility79.0 %83.7 %
Expected Dividend Yield0.0 %0.0 %
Risk-Free Interest Rate4.1 %4.3 %
Weighted average grant date fair value per share$6.64 $4.56 
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, 2025 and 2024.
Nine Months Ended September 30,
20252024
Expected Life in Years6.45.8
Expected Volatility80.9 %83.4 %
Expected Dividend Yield0.0 %0.0 %
Risk-Free Interest Rate4.0 %4.2 %
Weighted average grant date fair value per share$5.89 $4.43