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EQUITY INCENTIVE PLANS​ | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
EQUITY INCENTIVE PLANS​ | EQUITY INCENTIVE PLANS Stock-Based Compensation Expense Stock-based compensation expense recognized for stock options, RSUs and our ESPP is recorded as operating expenses in our condensed statements of operations and comprehensive loss, as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Selling, general and administrative | $ | 10,400 |  |  | $ | 6,199 |  |  | $ | 28,157 |  |  | $ | 20,305 |
Research and development | 2,342 |  |  | 2,934 |  |  | 8,360 |  |  | 7,213 |
Total | $ | 12,742 |  |  | $ | 9,133 |  |  | $ | 36,517 |  |  | $ | 27,518 |
A summary of our total unrecognized stock-based compensation expense, net of estimated forfeitures, as of September 30, 2025 is as follows:
| Unrecognized Compensation Expense (in thousands) |  | Average Remaining Vesting Period (in years)
Stock option grants | $ | 54,878 |  |  | 2.67
RSU grants | $ | 74,606 |  |  | 3.02
ESPP | $ | 276 |  |  | 0.42
Stock Options A summary of our stock option activity and related information for the nine months ended September 30, 2025 is as follows:
| Number of Shares (in thousands) |  | Weighted-Average Exercise Price per Share
Balance as of December 31, 2024 | 28,085 |  |  | $ | 5.63 |
Options granted | 7,557 |  |  | $ | 5.02 |
Options exercised | (1,642) |  |  | $ | 2.17 |
Options forfeited or canceled | (3,857) |  |  | $ | 6.78 |
Balance as of September 30, 2025 | 30,143 |  |  | $ | 5.52 |
Exercisable as of September 30, 2025 | 17,039 |  |  | $ | 5.42 |
Restricted Stock Units A summary of our RSUs activity and related information for the nine months ended September 30, 2025 is as follows:
| Number of RSUs (in thousands) |  | Weighted-Average Grant Date Fair Value per Share
Non-vested restricted stock units as of December 31, 2024 | 8,013 |  |  | $ | 6.59 |
Granted | 10,351 |  |  | $ | 5.13 |
Vested | (2,929) |  |  | $ | 5.84 |
Forfeited | (1,611) |  |  | $ | 6.00 |
Non-vested restricted stock units as of September 30, 2025 | 13,824 |  |  | $ | 5.72 |
Employee Stock Purchase Plan During the nine months ended September 30, 2025, we issued approximately 0.4 million shares of our common stock under the ESPP. The shares were purchased by employees at an average purchase price of $4.46 per share, resulting in proceeds to us of approximately $1.7 million. Issuance of Common Stock for Services During the nine months ended September 30, 2025, we issued 0.1 million shares of our common stock to members of the board of directors who elected to receive stock in lieu of their cash fees under our Non-Employee Director Compensation Program.

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