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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Shares Reserved for Future Issuance | The Company has reserved shares of common stock for future issuances as follows:
| June 30, |  | December 31,
| 2024 |  | 2023
Common stock options issued and outstanding | 3,766,402 |  |  | 3,142,981 |
Common stock restricted stock units issued and outstanding | 3,197,736 |  |  | 2,244,903 |
Common stock available for future grants | 2,951,051 |  |  | 2,541,438 |
Common stock available for employee stock purchase plan | 1,731,920 |  |  | 1,436,823 |
Total | 11,647,109 |  |  | 9,366,145 |
Schedule of Summary of Stock Option Activity | A summary of stock option activity for the existing stock plans and the inducement awards for the six months ended June 30, 2024 is set forth below:
| Outstanding Options
| Number of Shares |  | Weighted Average Exercise Price
Balance, January 1, 2024 | 3,142,981 |  |  | $ | 16.40 |
Options granted | 895,125 |  |  | 9.09 |
Options exercised | (39,466) |  |  | 2.02 |
Options canceled | (232,238) |  |  | 21.85 |
Balance, June 30, 2024 | 3,766,402 |  |  | $ | 14.48 |
Schedule of Options Vested and Expected to Vest | The aggregate intrinsic value of options outstanding as of June 30, 2024 was $3.7 million.
| June 30, 2024
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Contractual Life (in Years)
Options vested and exercisable | 1,954,036 |  | $ | 15.32 |  |  | 6.45
Options vested and expected to vest | 3,766,402 |  | $ | 14.48 |  |  | 7.64
Schedule of Activity with Respect to Restricted Stock Units | A summary of restricted stock units activity for the existing stock plans and the inducement awards for the six months ended June 30, 2024 is set forth below:
| Number of Shares Underlying Outstanding Restricted Stock |  | Weighted Average Grant Date Fair Value
Unvested, January 1, 2024 | 2,244,903 |  |  | $ | 15.74 |
Granted | 1,705,208 |  |  | 8.89 |
Vested | (505,946) |  |  | 16.10 |
Canceled | (246,429) |  |  | 14.75 |
Unvested, June 30, 2024 | 3,197,736 |  |  | $ | 12.11 |
Schedule of Total Stock-Based Compensation | Stock-based compensation expense is reflected in the statements of operations and comprehensive loss as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of goods sold | $ | 435 |  |  | $ | 391 |  |  | $ | 816 |  |  | $ | 614 |
Research and development | 714 |  |  | 760 |  |  | 1,487 |  |  | 1,326 |
Selling, general and administrative | 4,771 |  |  | 4,711 |  |  | 9,290 |  |  | 8,560 |
Total | $ | 5,920 |  |  | $ | 5,862 |  |  | $ | 11,593 |  |  | $ | 10,500 |
The above stock-based compensation expense related to the following equity-based awards (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Stock options and restricted stock units | $ | 5,818 |  |  | $ | 5,799 |  |  | $ | 11,299 |  |  | $ | 10,339 |
Employee stock purchase plan | 102 |  |  | 63 |  |  | 294 |  |  | 161 |
Total | $ | 5,920 |  |  | $ | 5,862 |  |  | $ | 11,593 |  |  | $ | 10,500 |

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- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-4 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-5 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481142/505-10-45-2 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-10 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480244/480-10-S99-1 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
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