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Stock Plans (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options Activity
The following table summarizes stock option activity under the Company’s stock plans and related information:
(In thousands, except exercise prices and years)Options
Outstanding
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining Contract
Life (in years)
Aggregate
Intrinsic Value (a)
Balance at December 31, 202010,432 $7.19 8.2$31,626 
Granted8,231 7.04 
Exercised(9)5.86 
Cancelled/forfeited(5,366)10.32 
Balance at December 31, 202113,288 $5.83 6.9$145 
Granted10,933 1.24 
Exercised(15)0.19 
Cancelled/forfeited(4,886)5.29 
Balance at December 31, 202219,320 $3.38 8.0$29 
Vested and expected to vest as of December 31, 202219,320 $5.79 8.0$29 
Exercisable at December 31, 20226,102 $11.03 6.4$29 
(a)The aggregate intrinsic value is calculated as the difference between the stock option exercise price and the closing price of the Company’s common stock as quoted on a national exchange.
Schedule of Fair Value of Option Issued Valuation Assumptions The fair value of each stock option issued was estimated at the date of grant using the Black-Scholes valuation model with the following weighted-average assumptions:
OptionsEmployee Stock Purchase Plan
Years ended December 31,Years ended December 31,
2022202120222021
Expected volatility89%91%77%122%
Expected term (in years)6.06.01.21.2
Expected dividend yield
Risk-free interest rate2.6%1.0%3.0%0.1%
Schedule of Restricted Stock Units Activity The following table summarizes the RSU activity under the Company’s stock plans and related information:
(In thousands, except grant date fair value and years)Number of
Units
Weighted-
Average
Grant Date
Fair Value
Weighted-
Average
Remaining
Contractual Term
(in years)
Balance at December 31, 2020540 $6.41 0.8
Granted2,585 3.90 
Vested and released(305)5.26 
Forfeited(694)5.68 
Balance at December 31, 20212,126 3.76 1.4
Granted857 1.43 
Vested and released(835)3.41 
Forfeited(455)3.21 
Balance at December 31, 20221,693 $2.90 1.2
Schedule of Stock-based Compensation Expense The following table presents the Company’s stock-based compensation expense:
Years ended December 31,
20222021
(In thousands)
Research and development$7,108 $8,875 
General and administrative12,971 16,319 
Total share-based compensation expense$20,079 $25,194