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Stock Incentive Plans (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Options, RSUs Activity under 2014 Equity Incentive Plan and 2016 Inducement Plan and Related Information
The following table summarizes option and RSU activity under the Company’s 2014 Equity Incentive Plan, 2016 Inducement Equity Incentive Plan and 2019 Inducement Equity Incentive Plan, and related information:
Shares
Available
for Grant
Stock
Options
Outstanding
Weighted-
Average
Exercise
Price
Number of
RSU Shares
Weighted-
Average
Grant Date
Fair Value
Balance—December 31, 2023869,111 3,055,208 $25.21 5,006,775 $19.02 
Additional shares authorized2,060,135 — — — — 
Common stock awards for services(6,813)— — — — 
RSUs granted(2,716,211)— — 2,716,211 9.36 
RSUs vested— — — (319,737)27.50 
Options granted— — — — — 
Options exercised— (1,501)5.63 — — 
Repurchase of common stock under employee incentive plans65,601 — — — — 
RSUs forfeited158,348 — — (158,348)18.56 
Options forfeited13,190 (13,190)28.32 — — 
Options expired66,475 (66,475)30.46 — — 
Balance—March 31, 2024509,836 2,974,042 $25.08 7,244,901 $15.17 
Summary of Options Outstanding and Exercisable Vested or Expected to Vest
Options outstanding that have vested and are expected to vest at March 31, 2024 are as follows:
Number of Shares Issued
(In thousands)
Weighted-Average
Exercise Price
Weighted-Average Remaining Contractual Life (Years)Aggregate Intrinsic Value
(In thousands)
Vested1,982 $25.24 6.53$1,483 
Expected to vest921 24.58 8.38172 
Total2,903 $1,655 
Summary of Weighted-Average Assumptions Used to Estimate Fair Values of Share-Based Awards
The estimated fair values of employee stock options and ESPP shares were estimated using the Black-Scholes option pricing model based on the following weighted average assumptions:
Three Months Ended March 31,
20242023
Employee stock options
Expected term (in years)N/A6.0
Expected volatilityN/A78.63%
Risk-free interest rateN/A3.46%
Expected dividend yieldN/A—%
Employee stock purchase plan
Expected term (in years)0.50.5
Expected volatility75.91%77.88%
Risk-free interest rate5.38%4.94%
Expected dividend yield—%—%
Summary of Expense Relating to Employee and Nonemployee Stock-Based Payment Awards from Stock Options and RSUs
The following table summarizes stock-based compensation expense relating to employee and non-employee stock-based awards for the three months ended March 31, 2024 and 2023, included in the condensed consolidated statements of operations as follows (in thousands):
Three Months Ended March 31,
20242023
Cost of testing services$457 $479 
Cost of product317 360 
Cost of patient and digital solutions372 402 
Research and development1,760 1,962 
Sales and marketing3,044 3,737 
General and administrative7,394 6,814 
Total$13,344 $13,754