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Share-based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Payment Award Valuation Assumptions | The following weighted average assumptions were used to estimate the fair value of the options granted during the nine months ended September 30, 2022 and September 30, 2021:
|  | 2022 |  | 2021
Annualized volatility |  | 70 | % |  | 66 | %
Risk-free interest rate |  | 2.01 | % |  | 0.38 | %
Expected life of options in years |  | 5.0 years |  | 4.0 years
Estimated forfeiture rate |  | 12.1 | % |  | 8.9 | %
Dividend rate |  | 0.0 | % |  | 0.0%
Fair value per common share option |  | $ | 6.60 |  |  | $ | 6.64 |
Schedule of Option Activity | The following table summarizes the option award activity for the nine months ended September 30, 2022:
|  | September 30, 2022
|  | Number of shares (in thousands) |  | Weighted average exercise price $
Outstanding - December 31, 2021 |  | 12,074 |  |  | $ | 12.84 |
Granted |  | 3,809 |  |  | 11.25 |
Exercised |  | (77) |  |  | 6.47 |
Forfeited |  | (1,507) |  |  | 14.63 |
Outstanding - September 30, 2022 |  | 14,299 |  |  | $ | 12.26 |
Schedule of Performance Shares Activity | The following table summarizes the PA and RSU activity for the nine months ended September 30, 2022:
|  | September 30, 2022
|  | Number of shares (in thousands) |  | Weighted average exercise price $
Outstanding - December 31, 2021 |  | 347 |  |  | $ | 13.33 |
Granted |  | 2,311 |  |  | 11.26 |
Vested |  | (305) |  |  | 14.17 |
Forfeited |  | (255) |  |  | 12.39 |
Outstanding - September 30, 2022 |  | 2,098 |  |  | $ | 11.04 |
Allocation of Share-Based Payments | The Company recognized share-based compensation expense for the three and nine month periods ended September 30, 2022 and September 30, 2021 as follows:
|  | Three months ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Research and development |  | $ | 1,489 |  |  | $ | 1,038 |  |  | $ | 3,531 |  |  | $ | 3,201 |
Selling, general and administrative |  | 6,625 |  |  | 6,000 |  |  | 21,480 |  |  | 19,189 |
Capitalized under inventories |  | 206 |  |  | 54 |  |  | 387 |  |  | 276 |
Share-based compensation expense |  | $ | 8,320 |  |  | $ | 7,092 |  |  | $ | 25,398 |  |  | $ | 22,666 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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