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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Information Regarding Stock Options Outstanding Stock Options Vested and Expected to Vest and Stock Options Exercisable | Information regarding the Company’s stock options outstanding, stock options vested and expected to vest, and stock options exercisable at December 31, 2022, was as follows (in thousands except weighted average exercise price and contractual term):
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value |
Balances at December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Stock options outstanding |  |  | 15,756 |  |  | $ | 5.12 |  |  |  | 4.85 |  | $ | 173 |
Stock options vested and expected to vest |  |  | 15,655 |  |  |  | 5.12 |  |  |  | 4.82 |  |  | 173 |
Stock options exercisable |  |  | 12,680 |  |  |  | 4.98 |  |  |  | 3.96 |  |  | 173 |
Recognition of Stock-Based Compensation Expense | Stock-based compensation expense recognized on the Company’s consolidated statements of operations for the years ended December 31, 2022, 2021 and 2020, was as follows (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Research and development |  | $ | 5,635 |  |  | $ | 4,950 |  |  | $ | 3,739 |
Selling, general and administrative |  |  | 18,821 |  |  |  | 18,621 |  |  |  | 14,290 |
Total stock-based compensation expense |  | $ | 24,456 |  |  | $ | 23,571 |  |  | $ | 18,029 |
Weighted Average Assumptions Used to Value Stock-Based Awards | The weighted average assumptions used to value the Company’s stock-based awards for the years ended December 31, 2022, 2021 and 2020, was as follows:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Stock Options: |  |  |  |  |  |  |  |  |
Expected term (in years) |  |  | 6.82 |  |  |  | 6.97 |  |  |  | 6.89 |
Estimated volatility |  |  | 55 | % |  |  | 55 | % |  |  | 52 | %
Risk-free interest rate |  |  | 1.89 | % |  |  | 1.16 | % |  |  | 0.94 | %
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Employee Stock Purchase Plan Rights: |  |  |  |  |  |  |  |  |
Expected term (in years) |  |  | 0.74 |  |  |  | 0.74 |  |  |  | 0.72 |
Estimated volatility |  |  | 56 | % |  |  | 56 | % |  |  | 53 | %
Risk-free interest rate |  |  | 2.25 | % |  |  | 0.07 | % |  |  | 0.86 | %
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
2008 Equity Incentive Plan |
Activity Under Equity Incentive Plans Related to Stock Options | Activity under the Company’s equity incentive plans related to stock options is set forth below (in thousands except per share amounts):
|  | Number of Options Outstanding |  |  | Weighted Average Exercise Price per Share |
Balance at December 31, 2021 |  |  | 15,092 |  |  | $ | 5.02 |
Granted |  |  | 1,682 |  |  |  | 5.62 |
Exercised |  |  | (778 | ) |  |  | 3.89 |
Forfeited/canceled |  |  | (240 | ) |  |  | 5.81 |
Balance at December 31, 2022 |  |  | 15,756 |  |  |  | 5.12 |
Activity Under Equity Incentive Plans Related to RSUs | Activity under the Company’s equity incentive plans related to RSUs is set forth below (in thousands except per share amounts):
|  | Number of RSUs Unvested |  |  | Weighted Average Grant Date Fair Value per Share |
Balance at December 31, 2021 |  |  | 6,690 |  |  | $ | 5.90 |
Granted (1) |  |  | 5,330 |  |  |  | 5.55 |
Vested (1) |  |  | (2,880 | ) |  |  | 5.66 |
Forfeited (1) |  |  | (643 | ) |  |  | 6.00 |
Balance at December 31, 2022 |  |  | 8,497 |  |  |  | 5.76 |
(1) Includes shares issuable under performance-based restricted stock unit awards.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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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 and exercisable 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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