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Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

The following stock-based compensation amounts were recognized for the periods indicated (in thousands):

			Year Ended December 31,
			2021						2020						2019
Research and development			$	11,337					$	10,833					$	10,023
Selling, general and administrative			11,789						9,843						9,548
Total stock-based compensation expense			$	23,126					$	20,676					$	19,571

Schedule of Employee Stock Options Award Valuation Assumptions

The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model using the assumptions in the following table:

			Year Ended December 31,
			2021						2020						2019
Expected dividend yield			0%						0%						0%
Expected volatility			86.2% -87.4%						67.3% - 109%						74% - 76%
Risk-free interest rate			0.64% - 1.55%						0.4% - 1.8%						1.4% - 2.6%
Expected term			6.25 years						6.25 years						6.25 years

Schedule of Stock Option Activity

The following table summarizes stock option activity for 2021:

			Shares						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020			7,258,353						$	21.48					6.8
Granted			1,941,671						20.83
Exercised			(332,767)						17.55
Forfeited or expired			(493,336)						21.05
Outstanding, December 31, 2021			8,373,921						$	21.47					6.6						$	7,841
As of December 31, 2021:
Exercisable			5,546,382						$	22.61					5.6						$	4,764
Vested and expected to vest			8,010,695						$	21.58					6.5						$	7,468

Schedule of RSU Activity

The following table summarizes RSU activity for 2021:

			Shares						Weighted-Average Grant Date Fair Value
Outstanding, December 31, 2020			209,250						$	15.92
Granted			16,500						26.27
Vested			(184,100)						15.66
Forfeited or expired			(20,150)						16.04
Outstanding, December 31, 2021			21,500						$	25.97

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