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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | The Company recorded stock-based compensation expense in the consolidated statements of operations as follows (in thousands):
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Cost of sales | $ | 1,032 |  |  | $ | — |  |  | $ | — |
Research and development | 66,565 |  |  | 86,928 |  |  | 55,955 |
Selling, general, and administrative | 62,703 |  |  | 96,698 |  |  | 72,080 |
Total stock-based compensation expense | $ | 130,300 |  |  | $ | 183,626 |  |  | $ | 128,035 |
Schedule of Option and Appreciation Rights Activity | The following is a summary of stock options and SARs activity under the 2015 Plan and the 2005 Plan for the year ended December 31, 2022:
| 2015 Plan |  | 2005 Plan
| Stock Options |  | Weighted- Average Exercise Price |  | Stock Options |  | Weighted- Average Exercise Price
Outstanding at January 1, 2022 | 3,635,837 |  |  | $ | 42.60 |  |  | 68,225 |  |  | $ | 109.52 |
Granted | 633,626 |  |  | $ | 65.32 |  |  | — |  |  | $ | — |
Exercised | (134,222) |  |  | $ | 15.64 |  |  | (3,000) |  |  | $ | 31.10 |
Canceled | (81,951) |  |  | $ | 90.83 |  |  | (1,500) |  |  | $ | 121.00 |
Outstanding at December 31, 2022 | 4,053,290 |  |  | $ | 46.07 |  |  | 63,725 |  |  | $ | 112.94 |
Shares exercisable at December 31, 2022 | 2,892,161 |  |  | $ | 39.58 |  |  | 63,725 |  |  | $ | 112.94 |
Schedule of Assumptions Used in Estimation of Fair Value of Stock | The fair value of stock options granted under the 2015 Plan was estimated at the date of grant or the date upon which the 2015 Plan was approved by the Company’s stockholders for certain stock options granted in 2020 and 2019 using the Black-Scholes option-pricing model with the following assumptions:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Weighted average Black-Scholes fair value of stock options and SARs granted | $55.32 |  | $158.02 |  | $80.48
Risk-free interest rate | 1.4%-4.3% |  | 0.5%-1.3% |  | 0.2%-1.5%
Dividend yield | —% |  | —% |  | —%
Volatility | 120.5%-140.1% |  | 124.7%-142.0% |  | 116.0%-152.2%
Expected term (in years) | 4.0-6.3 |  | 4.1-6.1 |  | 3.9-7.6
The ESPP is considered compensatory for financial reporting purposes. As such, the fair value of ESPP shares was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Range of Black-Scholes fair values of ESPP shares granted | $23.59-$79.74 |  | $83.47-$238.85 |  | $2.57-$92.67
Risk-free interest rate | 0.6%-3.3% |  | 0.1%-0.2% |  | 0.2%-2.6%
Dividend yield | —% |  | —% |  | —%
Volatility | 103.0%-142.9% |  | 114.9%-159.4% |  | 66.6%-189.7%
Expected term (in years) | 0.5-2.0 |  | 0.5-2.0 |  | 0.5-2.0
Schedule of Restricted Stock Units Activity | The following is a summary of RSU activity for the year ended December 31, 2022:
| Number of Shares |  | Per Share Weighted- Average Fair Value
Outstanding and unvested at January 1, 2022 | 819,828 |  |  | $ | 116.70 |
Restricted stock units granted | 1,882,987 |  |  | $ | 48.51 |
Restricted stock units vested | (505,009) |  |  | $ | 89.77 |
Restricted stock units forfeited | (163,232) |  |  | $ | 99.58 |
Outstanding and unvested at December 31, 2022 | 2,034,574 |  |  | $ | 61.65 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + 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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