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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

We recognize total stock-based compensation expense in our Consolidated Statements of Operations as follows (in thousands):

		Year Ended December 31,
		2024				2023
Cost of goods sold		$	1,946			$	3,177
Research and development			8,161				13,890
General and administrative			11,505				16,321
Total stock-based compensation		$	21,612			$	33,388

Schedule of Black-Scholes Option-Pricing Model Assumptions Used to Calculate Fair Value of Employee Stock Options

The following table lists the Black-Scholes option-pricing model assumptions used to calculate the fair value of employee and director stock options, as well as the resulting grant-date fair value:

		Year Ended December 31,
		2024				2023
Average risk-free interest rate			4.2	%			4.0	%
Dividend yield			0.0	%			0.0	%
Average volatility factor			91.7	%			88.4	%
Weighted-average expected life		5.1 years				5.1 years
Weighted-average grant-date fair value of options granted		$	0.76			$	0.37

Schedule of Stock Option Activity Under Equity Incentive Plans

The table below presents a summary of stock option activity under our equity incentive plans (in thousands, except for price per share and contractual life information):

										Weighted-
						Weighted-				Average
						Average				Remaining
		Number				Exercise				Contractual				Aggregate
		of				Price				Life				Intrinsic
		Shares				per Share				(in Years)				Value(1)
Outstanding at December 31, 2023			23,016			$	8.26
Options granted			12,541				1.04
Options exercised			(144	)			0.52
Options forfeited & canceled			(2,354	)			7.87
Outstanding at December 31, 2024			33,059			$	5.58				6.39			$	4,468
Exercisable at December 31, 2024			11,347				13.14				4.62			$	1,230

(1)Aggregate intrinsic value represents the difference between the exercise price of the option and the closing market price of our common stock on December 31, 2024.

Schedule of Restricted Stock Unit Award Activity

A summary of RSU award activity is as follows (in thousands except for per share amounts):

						Weighted-
						Average
						Grant
						Date Fair
		Units Issued				Value
Unvested at December 31, 2023			4,230			$	6.14
Granted			50				1.09
Vested and released			(2,474	)			5.82
Forfeited and canceled			(283	)			3.06
Unvested at December 31, 2024			1,523			$	7.07

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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.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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.

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