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Stock Incentive Plans and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock Option Activity

The following table summarizes all stock option activity for the year ended December 31, 2024:

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, 2024			27,956			$	3.21
Granted			9,100				0.83
Forfeited			(8,961	)			2.81
Expired			(389	)			1.98
Exercised			(10	)			1.08
Outstanding as of December 31, 2024			27,696				2.65			7.3 years		$	-
Exercisable as of December 31, 2024			13,834				4.33			5.6 years		$	-
Vested and expected to vest as of December 31, 2024			27,005				2.70			6.5 years		$	-
Available for future grant as of December 31, 2024			27,290

Assumptions Used to Estimate Fair Value of Share-Based Payment Awards

For 2024, 2023, and 2022, the Company used the following assumptions to estimate the fair value of share-based payment awards under the Black-Scholes model:

		2024		2023		2022
Risk-free interest rate		3.84% - 4.66%		3.59% - 4.72%		1.64% - 4.35%
Expected dividend yield		0.00%		0.00%		0.00%
Expected option life (years)		6.25		6.25		6.25
Expected volatility		106%		101% - 104%		96% - 101%

The Company used the following assumptions to estimate the fair value of share-based payment awards under the Monte Carlo model in 2024 and 2023:

		2024		2023
Risk-free interest rate		3.92% - 3.96%		4.06% - 4.09%
Expected dividend yield		0.00%		0.00%
Expected option life (years)		9		9
Expected volatility		51.00% - 42.80%		42.5% - 43.00%

Restricted Stock Unit Activity

The following table presents the restricted stock unit activity for the year ended December 31, 2024:

In thousands (except per share amounts)		Shares				Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2024			11,983				1.70
Granted			7,938				1.16
Vested			(3,852	)			2.42
Forfeited			(2,204	)			2.09
Outstanding as of December 31, 2024			13,865			$	1.15

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, 2024, 2023, and 2022:

In thousands		2024				2023				2022
Research and development		$	3,539			$	4,187			$	4,465
Selling, general and administrative			14,166				12,493				22,339
Restructuring			—				(1,034	)			(591	)
Stock-based compensation expense		$	17,705			$	15,646			$	26,213

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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 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.

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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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