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Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

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,
			2024						2023						2022
Research and development			$	11,759					$	9,190					$	10,094
Selling, general and administrative			17,680						9,183						10,344
Total stock-based compensation expense			$	29,439					$	18,373					$	20,438

Schedule of Share-Based Payment Award, Modified Awards, Valuation Assumptions

The assumptions used to estimate the fair value of Dr. Koenig’s modified awards in 2024 were as follows:

Expected dividend yield			0%
Expected volatility			108% -174%
Risk-free interest rate			4.2% - 4.3%
Expected term			1.00 year - 5.50 years

Schedule of Employee Stock Options Award Valuation Assumptions

			Year Ended December 31,
			2024						2023						2022
Expected dividend yield			0%						0%						0%
Expected volatility			95% -116%						76% - 96%						88% - 92%
Risk-free interest rate			3.5% - 4.7%						3.5% - 4.8%						1.4% - 4.0%
Expected term			6.06 years						5.88 years						5.95 years

Schedule of Stock Option Activity

The following table summarizes stock option activity for 2024:

			Shares						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2023			12,223,637						$	15.11					6.7
Granted			1,986,182						15.95
Exercised			(333,522)						9.38
Forfeited			(165,111)						11.44
Expired			(771,669)						25.67
Outstanding, December 31, 2024			12,939,517						$	14.80					6.4						$	15
As of December 31, 2024:
Exercisable			9,004,928						$	16.68					5.5						$	9
Vested and expected to vest			12,456,248						$	14.96					6.3						$	14

Schedule of RSU Activity

The following table summarizes RSU activity for 2024:

			Shares						Weighted-Average Grant Date Fair Value
Outstanding, December 31, 2023			905,614						$	5.97
Granted			679,715						16.43
Vested			(483,181)						6.91
Forfeited or expired			(33,154)						13.27
Outstanding, December 31, 2024			1,068,994						$	11.97

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Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions for Dr. Scott Koening

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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 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 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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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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