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Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Options Activity

The following table sets forth the summary of options activity, under the 2018 Plan and the 2021 Plans, for the six months ended June 30, 2023:

(in thousands, except share-based data)																								Total Options						Weighted- Average Exercise Price Per Share						Weighted- Average Remaining Contractual Term (In Years)						Aggregate Intrinsic Value
Outstanding as of December 31, 2022																								2,556,733						$	1.21
Vested exercised																								(502,704)						0.26
Forfeitures																								(691,906)						1.87
Outstanding as of June 30, 2023																								1,362,123						$	1.24					7.0						$	35
Exercisable as of June 30, 2023																								917,812						$	0.87					6.5						$	31
Vested and expected to vest as of June 30, 2023																								1,362,123						$	1.24					7.0						$	35

Schedule of Restricted Stock Unit and Restricted Stock Award Activity

The following table sets forth the summary of RSU and RSA activity, under the Initial Plan, the 2018 Plan, the 2021 Plan, and the 2022 Plan, for the six months ended June 30, 2023. RSAs were an immaterial portion of activity for the period:

						Shares						Weighted Average Grant Date Fair Value (i.e. Share Price)
Outstanding as of December 31, 2022						7,780,917						$	3.99
Granted						10,377,589						0.55
Vested						(1,238,805)						2.99
Forfeited						(1,983,441)						3.03
Outstanding as of June 30, 2023						14,936,260						$	1.81

Schedule of Stock-Based Compensation Expense

The following table sets forth the stock-based compensation under the Initial Plan, the 2018 Plan, the 2021 Plan, and the 2022 Plan by expense type:

			Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)			2023						2022						2023						2022
Research and development expenses			$	681					$	514					$	1,157					$	887
Selling, general and administrative expenses			1,896						2,521						3,140						4,360
Total			$	2,577					$	3,035					$	4,297					$	5,247

The following table sets forth the stock-based compensation under the Initial Plan, the 2018 Plan, the 2021 Plan, and the 2022 Plan by award type:

			Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)			2023						2022						2023						2022
Options			$	92					$	174					$	188					$	251
RSUs & RSAs			2,499						2,909						4,099						4,984
ESPP			(14)						22						10						82
Performance Awards			$	—					$	(70)					—						(70)
Total			$	2,577					$	3,035					$	4,297					$	5,247

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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.

+ References

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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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