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STOCK INCENTIVE PLANS (Tables) | 6 Months Ended
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Jun. 30, 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, 2019 Inducement Equity Incentive Plan and 2024 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, 2023 | 869,111 |  |  | 3,055,208 |  |  | $ | 25.21 |  |  | 5,006,775 |  |  | $ | 19.02 |
Additional shares authorized | 6,748,645 |  |  | — |  |  | — |  |  | — |  |  | — |
Common stock awards for services | (11,748) |  |  | — |  |  | — |  |  | — |  |  | — |
RSUs granted | (3,360,339) |  |  | — |  |  | — |  |  | 3,360,339 |  |  | 9.32 |
RSUs vested | — |  |  | — |  |  | — |  |  | (1,456,490) |  |  | 18.14 |
Options granted | (854,898) |  |  | 854,898 |  |  | 9.29 |  |  | — |  |  | — |
Options exercised | — |  |  | (20,037) |  |  | 6.54 |  |  | — |  |  | — |
Repurchase of common stock under employee incentive plans | 391,535 |  |  | — |  |  | — |  |  | — |  |  | — |
RSUs forfeited | 247,195 |  |  | — |  |  | — |  |  | (247,195) |  |  | 17.32 |
Options forfeited | 21,809 |  |  | (21,809) |  |  | 27.94 |  |  | — |  |  | — |
Options expired | 85,247 |  |  | (85,247) |  |  | 30.19 |  |  | — |  |  | — |
Balance—June 30, 2024 | 4,136,557 |  |  | 3,783,013 |  |  | $ | 21.58 |  |  | 6,663,429 |  |  | $ | 14.54 |
Summary of Options Outstanding and Exercisable Vested or Expected to Vest | Options outstanding that have vested and are expected to vest at June 30, 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)
Vested | 2,122 |  |  | $ | 25.06 |  |  | 6.34 |  | $ | 3,836 |
Expected to vest | 1,474 |  |  | 17.53 |  |  | 8.07 |  | 4,376 |
Total | 3,596 |  |  |  |  |  |  | $ | 8,212 |
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 June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Employee stock options |  |  |  |  |  |  |  |
Expected term (in years) |  | 5.8 |  | 5.0 |  | 5.8 |  | 5.6
Expected volatility |  | 76.52% |  | 76.63% |  | 76.52% |  | 77.86%
Risk-free interest rate |  | 4.57% |  | 3.99% |  | 4.57% |  | 3.67%
Expected dividend yield |  | —% |  | —% |  | —% |  | —%
Employee stock purchase plan |  |  |  |  |  |  |  |
Expected term (in years) |  | 0.5 |  | 0.5 |  | 0.5 |  | 0.5
Expected volatility |  | 91.99% |  | 93.38% |  | 91.99% |  | 93.38%
Risk-free interest rate |  | 5.24% |  | 5.47% |  | 5.24% |  | 5.47%
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 and six months ended June 30, 2024 and 2023, included in the condensed consolidated statements of operations as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of testing services | $ | 357 |  |  | $ | 492 |  |  | $ | 814 |  |  | $ | 971 |
Cost of product | 225 |  |  | 274 |  |  | 542 |  |  | 634 |
Cost of patient and digital solutions | 350 |  |  | 367 |  |  | 722 |  |  | 769 |
Research and development | 1,628 |  |  | 1,704 |  |  | 3,388 |  |  | 3,666 |
Sales and marketing | 2,927 |  |  | 2,779 |  |  | 5,971 |  |  | 6,516 |
General and administrative | 7,683 |  |  | 7,084 |  |  | 15,077 |  |  | 13,898 |
Total | $ | 13,170 |  |  | $ | 12,700 |  |  | $ | 26,514 |  |  | $ | 26,454 |

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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