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Stock Incentive Plans and Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Stock Option Activity | The following table summarizes all stock option activity for the year ended December 31, 2023:
In thousands (except per share amounts and years) |  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value |
Outstanding as of January 1, 2023 |  |  | 19,182 |  |  | $ | 5.80 |  |  |  |  |  |
Granted |  |  | 18,363 |  |  |  | 1.27 |  |  |  |  |  |
Forfeited |  |  | (8,221 | ) |  |  | 4.85 |  |  |  |  |  |
Expired |  |  | (128 | ) |  |  | 7.54 |  |  |  |  |  |
Exercised |  |  | (1,240 | ) |  |  | 1.50 |  |  |  |  |  |
Outstanding as of December 31, 2023 |  |  | 27,956 |  |  |  | 3.21 |  |  | 7.3 years |  | $ | 131 |
Exercisable as of December 31, 2023 |  |  | 12,333 |  |  |  | 5.72 |  |  | 4.4 years |  | $ | - |
Vested and expected to vest as of December 31, 2023 |  |  | 27,114 |  |  |  | 3.35 |  |  | 6.6 years |  | $ | 113 |
Available for future grant as of December 31, 2023 |  |  | 22,984 |  |  |  |  |  |  |  |  |
Assumptions Used to Estimate Fair Value of Share-Based Payment Awards | For 2023, 2022, and 2021, the Company used the following assumptions to estimate the fair value of share-based payment awards under the Black-Scholes model:
|  | 2023 |  | 2022 |  | 2021
Risk-free interest rate |  | 3.59% - 4.72% |  | 1.64% - 4.35% |  | 0.53% - 1.36%
Expected dividend yield |  | 0.00% |  | 0.00% |  | 0.00%
Expected option life (years) |  | 6.25 |  | 6.25 |  | 6.25
Expected volatility |  | 101% - 104% |  | 96% - 101% |  | 96% - 99%
The Company used the following assumptions to estimate the fair value of share-based payment awards under the Monte Carlo model in 2023:
|  | 2023
Risk-free interest rate |  | 4.06% - 4.09%
Expected dividend yield |  | 0.00%
Expected option life (years) |  | 9
Expected volatility |  | 42.5% - 43.00%
Restricted Stock Unit Activity | The following table presents the restricted stock unit activity for the year ended December 31, 2023:
In thousands (except per share amounts) |  | Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of January 1, 2023 |  |  | 14,461 |  |  |  | 3.98 |
Granted |  |  | 11,048 |  |  |  | 1.73 |
Vested |  |  | (4,249 | ) |  |  | 3.91 |
Forfeited |  |  | (9,057 | ) |  |  | 2.85 |
Expired |  |  | (220 | ) |  |  | 16.87 |
Outstanding as of December 31, 2023 |  |  | 11,983 |  |  | $ | 1.70 |
Stock-Based Compensation Expense Related to Option Awards | The following table presents the stock-based compensation expense related to stock-based awards for the years ended December 31, 2023, 2022, and 2021:
In thousands |  | 2023 |  |  | 2022 |  |  | 2021 |
Research and development |  | $ | 4,187 |  |  | $ | 4,465 |  |  | $ | 4,327 |
Selling, general and administrative |  |  | 12,493 |  |  |  | 22,339 |  |  |  | 32,305 |
Restructuring |  |  | (1,034 | ) |  |  | (591 | ) |  |  | 306 |
Stock-based compensation expense |  | $ | 15,646 |  |  | $ | 26,213 |  |  | $ | 36,938 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -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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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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