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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

The following table shows total stock-based compensation expense recognized in the accompanying Consolidated Statements of Operations (in thousands):

			Year Ended December 31,
			2023						2022						2021
Research and development			$	15,215					$	18,404					$	19,534
General and administrative			12,148						13,246						13,422
Total stock-based compensation expense			$	27,363					$	31,650					$	32,956

Schedule of Assumptions used for Estimating Fair Value of Employee Stock Options

The assumptions used for estimating the fair value of the employee stock options were as follows:

			Year Ended December 31,
			2023						2022						2021
Risk-free interest rate			3.44-4.00%						2.15-3.69%						0.95-1.22%
Expected term (in years)			5.47-5.56						5.46-5.49						5.46-5.52
Expected dividend yield of stock			—						—						—
Expected volatility			72.18-76.05%						72.38-76.01%						77.30-79.77%

Schedule of Assumptions used for Estimating the Fair Value of the ESPP Purchase Rights

The assumptions used for estimating the fair value of the ESPP purchase rights are as follows:

			Year Ended December 31,
			2023						2022						2021
Risk-free interest rate			4.28-5.37%						1.62-4.61%						0.01-2.80%
Expected term (in years)			0.5-2.0						0.5-2.0						0.0-2.0
Expected dividend yield of stock			—						—						—
Expected volatility			65.71-100.60%						57.97-72.14%						32.54-97.88%

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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.

+ 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
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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.

+ References

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-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

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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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-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

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