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Equity Plans and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Option Activity under Stock-Based Compensation Plans

Activity under our stock plans is set forth below:

		Shares Underlying Outstanding Options (in thousands)				Weighted- Average Exercise Price Per Share				Weighted- Average Remaining Contractual Term (years)				Aggregate Intrinsic Value (in thousands)
Balance as of December 31, 2021			10,399			$	11.55				4.16			$	42,756
Options granted			2,053				12.54
Options exercised			(1,171	)			8.10
Options cancelled:
Options forfeited (unvested)			(105	)			9.40
Options expired (vested)			(1,828	)			19.11
Balance at September 30, 2022			9,348			$	10.75				4.85			$	15,323
Vested and expected to vest at September 30, 2022			9,081			$	10.70				4.81			$	15,241
Exercisable at September 30, 2022			5,056			$	10.10				3.95			$	12,300

Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the nine months ended September 30, 2022 was as follows:

		Number of Shares (in thousands)				Weighted-Average Grant-Date Fair Value Per Share
Non-vested as of December 31, 2021			2,651			$	8.30
Granted			2,145				12.43
Vested			(1,195	)			7.72
Forfeited			(254	)			10.58
Non-vested as of September 30, 2022			3,347			$	10.98

Summary Of Performance Based Restricted Stock Unit

We granted performance-based restricted stock unit (“PSU”) to certain executives. These PSUs vest upon a specified market condition. The summary of PSU activities for the nine months ended September 30, 2022 is as follows:

		Number of Shares (in thousands)				Weighted-Average Grant-Date Fair Value Per Share
Non-vested as of December 31, 2021			237			$	8.40
Granted			193				11.62
Vested			(237	)			8.40
Non-vested as of September 30, 2022			193			$	11.62

Fair Value-Based Measurements and Weighted-Average Assumptions

The weighted-average assumptions used in the calculations of these fair value measurements are as follows:

		Stock Options								Stock Options								Market-Based Performance Stock Unit (“PSUs”)
		Three Months Ended								Nine Months Ended								Nine Months Ended
		September 30,								September 30,								September 30
		2022				2021				2022				2021				2022
Weighted-average fair value per share		$	-			$	7.91			$	7.97			$	6.85			$	11.62
Risk-free interest rate			-				0.7	%			2.01	%			0.6	%			1.7	%
Expected life (in years)			-				4.5				4.5				4.5				2.9
Volatility			-				0.9				0.8				1.0				0.9

Stock-Based Compensation Expense

The components of stock-based compensation expense were as follows (in thousands):

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2022				2021				2022				2021
Research and development		$	1,532			$	798			$	4,271			$	2,607
Selling, general and administrative			6,019				3,930				17,043				10,519
Cost of sales - product			323				124				626				448
Inventory			739				524				2,248				1,549
Total		$	8,613			$	5,376			$	24,188			$	15,123

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