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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Stock-Based Compensation.  
Schedule of equity plan

Vesting schedules for our equity plans generally are as follows:

Grant Type

    

Vesting Schedule

Employee initial options grants

    

25% at one-year anniversary, 1/48 monthly thereafter

Employee recurring options grants

    

1/48 monthly

Non-employee consultant options grants

    

1/12 or 1/48 monthly

Employee RSUs

50% after one year, 50% after two years

Stock-Based Compensation Expense

Year Ended December 31, 

    

2022

    

2021

    

2020

(In thousands)

Continuing operations:

Research and development

$

6,123

$

6,791

$

6,163

Selling, general and administrative

 

8,042

 

8,154

 

7,614

Total stock-based compensation in continuing operations

14,165

14,945

13,777

Discontinued operations

(93)

2,685

1,148

Total stock-based compensation

$

14,072

$

17,630

$

14,925

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

    

Year Ended December 31, 

 

2022

2021

2020

Estimated weighted-average fair value

$

2.94

$

10.54

$

8.19

Weighted-average assumptions:

 

 

  

 

  

Expected volatility

 

90

%  

 

81

%  

 

77

%

Expected life, in years

 

6.0

 

6.0

 

6.0

Risk-free interest rate

 

2.83

%  

 

1.06

%  

 

1.06

%

Expected dividend yield

 

%  

 

%  

 

%

Schedule of Stock Option Activity

    

    

Weighted- 

    

    

Average 

Aggregate 

Exercise 

Remaining 

Intrinsic 

Options 

Price per 

Contractual Life 

Value 

Outstanding

Share

(In years)

(In thousands)

Balance at December 31, 2021

 

12,709,887

$

12.61

 

  

 

  

Granted

 

2,742,834

 

3.81

 

  

 

  

Exercised

 

(101,160)

 

4.10

 

  

 

  

Forfeited

 

(1,478,588)

 

12.05

 

  

 

  

Balance at December 31, 2022

 

13,872,973

$

11.02

 

5.8

$

21

Vested and expected to vest at December 31, 2022

 

13,454,543

$

11.10

 

5.7

$

19

Exercisable at December 31, 2022

 

9,859,720

$

12.12

 

4.6

$

Schedule of RSU activity

Weighted- Average

Grant Date

RSUs 

Fair Value

Outstanding

Per Share

Balance at December 31, 2021

 

222,000

$

7.53

Vested and released

 

(98,750)

 

7.53

Forfeited

 

(24,500)

 

7.53

Balance at December 31, 2022

 

98,750

$

7.53