XML 30 R15.htm IDEA: XBRL DOCUMENT
v3.21.2

Stock-Based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-Based Compensation |
7. | Stock-Based Compensation
Stock-based compensation expense was recorded directly to research and development and selling, general and administrative expense as follows (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Research and development |  | $ | 8,220 |  |  | $ | 11,236 |  |  | $ | 31,123 |  |  | $ | 32,653 |
Selling, general and administrative |  |  | 7,484 |  |  |  | 6,655 |  |  |  | 22,966 |  |  |  | 19,798 |
Total stock-based compensation expense |  | $ | 15,704 |  |  | $ | 17,891 |  |  | $ | 54,089 |  |  | $ | 52,451 |
The assumptions used to estimate the fair value of stock options granted and purchases under the Company’s 2014 Employee Share Purchase Plan (“ESPP”) using the Black-Scholes option valuation model were as follows:
|  | Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |  |
|  | 2021 |  |  |  | 2020 |  |  |  | 2021 |  |  |  | 2020 |  |
Stock Options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected term (in years) |  |  | 5.8 |  |  |  |  | 5.6 |  |  |  |  | 5.7 |  |  |  |  | 5.7 |  |
Expected volatility |  |  | 68.1 |  | % |  |  | 59.0 |  | % |  |  | 61.8 |  | % |  |  | 67.7 |  | %
Risk-free interest rate |  |  | 1.2 |  | % |  |  | 0.3 |  | % |  |  | 0.9 |  | % |  |  | 0.8 |  | %
Expected dividend yield |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |
Weighted average estimated fair value |  | $ | 11.08 |  |  |  | $ | 22.48 |  |  |  | $ | 21.45 |  |  |  | $ | 18.11 |  |
ESPPs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected term (in years) |  | 0.5 - 2.0 |  |  |  | 0.5 - 2.0 |  |  |  | 0.5 - 2.0 |  |  |  | 0.5 - 2.0 |  |
Expected volatility |  | 50.6 - 104.4 |  | % |  | 50.4 - 77.1 |  | % |  | 47.1 - 104.4 |  | % |  | 49.5 - 77.1 |  | %
Risk-free interest rate |  | 0.0 - 1.6 |  | % |  | 0.2 - 2.9 |  | % |  | 0.0 - 2.2 |  | % |  | 0.2 - 2.9 |  | %
Expected dividend yield |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |
Weighted average estimated fair value |  | $ | 12.37 |  |  |  | $ | 17.00 |  |  |  | $ | 13.57 |  |  |  | $ | 17.74 |  |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration