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Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Activity Under Restricted Stock Units

Restricted Stock Units

		Number of Units  (in thousands)				Weighted-Average Grant Date Fair Value per Unit
Balance at December 31, 2023			6,933			$	2.46
Assumed through acquisition			2,970				2.00
Granted			10,263				2.21
Vested			(4,002	)			2.34
Forfeited			(1,728	)			2.30
Balance at September 30, 2024			14,436			$	2.24

Schedule of Activity Under Stock Options

Stock Options

		Number of Options (in thousands)				Weighted-Average Exercise Price per Option				Weighted- Average Remaining Contractual Life (in years)				Aggregate Intrinsic Value (1) (in thousands)
Balance at December 31, 2023			9,294			$	3.62				8.5
Assumed through acquisition			28,184				4.80
Granted			6,697				2.50
Exercised			(573	)			2.12
Cancelled			(3,374	)			3.92
Balance at September 30, 2024			40,228			$	4.26				6.2			$	196
Vested at September 30, 2024			28,006			$	4.76				5.1			$	93
Unvested options at September 30, 2024			12,222			$	3.10				8.7			$	103

Aggregate intrinsic value as of September 30, 2024 was calculated as the difference between the closing price per share of the Company’s common stock on The Nasdaq Global Select Market on September 30, 2024, which was $1.93, and the exercise price of the options, multiplied by the number of in-the-money options.

Schedule of Nonvested Performance-Based Units Activity

Activity under the performance-based awards was as follows:

		Number of Units (in thousands)				Weighted-Average Grant Date Fair Value per Unit
Balance at December 31, 2023			309			$	2.42
PSU granted			100				2.25
Performance adjustment			(26	)			2.42
PSU released			(383	)			2.38
Balance at September 30, 2024			—			$	—

Schedule of Stock-Based Compensation Expense

As of September 30, 2024, the Company had reserved shares of common stock for future issuance under equity compensation plans as follows (in thousands):

		Securities To Be Issued Upon Exercise Of Options				Securities To Be Issued Upon Release Of Restricted Stock				Number Of Remaining Securities Available For Future Issuance
2022 Inducement Equity Incentive Plan			7,320				898				454
2011 Equity Incentive Plan			7,929				12,781				23,584
2017 Inducement Award Plan			59				—				2
2017 Employee Stock Purchase Plan			—				—				1,379
SomaLogic Plans			24,920				757				—
Total common stock reserved for future issuance			40,228				14,436				25,419

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense is reported in the Company's condensed consolidated statement of operations as follows (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Cost of product revenue		$	136			$	151			$	441			$	524
Cost of services revenue			228				37				455				122
Cost of collaboration and other revenue			—				—				1				2
Research and development expense			724				459				4,480				1,241
Selling, general and administrative expense			4,833				2,739				18,885				7,759
Total stock-based compensation expense		$	5,921			$	3,386			$	24,262			$	9,648

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