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Equity Incentive Plan (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Summary of Stock Option Activity

The following table summarizes the stock option activity for the six months ended June 30, 2022:

		Shares (in thousands)				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (Years)
Outstanding at December 31, 2021			18,944			$	18.71				6.59
Granted			2,629			$	3.27
Exercised			—			$	—
Expired and forfeited			(1,202	)		$	20.62
Outstanding at June 30, 2022			20,371			$	16.60				6.59

Summary of Restricted Stock Unit Activity

The following table summarizes the restricted stock unit activity (“RSUs”) for the six months ended June 30, 2022:

		Shares (in thousands)				Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2021			2,803			$	11.51
Granted			27			$	5.23
Released			(449	)		$	11.61
Expired and forfeited			(174	)		$	11.53
Outstanding at June 30, 2022			2,207			$	11.41

Summary of Stock-Based Compensation Expense related to Stock-Based Payment Awards Granted

The following table summarizes stock-based compensation expense related to stock-based payment awards granted pursuant to all of our equity compensation arrangements (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
Research and development		$	4,422			$	4,672			$	8,985			$	9,609
General and administrative			2,783				2,792				5,785				5,578
Sales and marketing			3,148				3,777				6,498				7,540
Total stock-based compensation expense		$	10,353			$	11,241			$	21,268			$	22,727

Summary of Fair Value of Option Grant on Grant Date Using Black-Scholes Option Pricing Model

We estimated the fair value of each option grant on the grant date using the Black-Scholes option pricing model with the following weighted-average assumptions:

		June 30,
		2022				2021
Risk-free interest rate			3.1	%			1.0	%
Dividend yield			0.0	%			0.0	%
Volatility			60.8	%			66.6	%
Expected life (years)			6				6

Summary of Fair Value of Purchase Right Granted Using Black-Scholes Option Pricing Model

We estimated the fair value of each purchase right granted under our 1997 Employee Stock Purchase Plan, as amended, at the beginning of each new offering period using the Black-Scholes option pricing model with the following weighted-average assumptions:

		June 30,
		2022				2021
Risk-free interest rate			1.5	%			0.04	%
Dividend yield			0.0	%			0.0	%
Volatility			75.3	%			48.3	%
Expected life (months)			6				6

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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 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.

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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 employee stock purchase plans, including, but not limited to: (a) expected term, (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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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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