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Stock-based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2024
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, 2024:
(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, 2023 |  |  |  |  |  |  |  | 23,912 |  |  | $ | 68.39 |  |  |  |  |
Forfeitures |  |  |  |  |  |  |  | (3,912) |  |  | 11.62 |  |  |  |  |
Outstanding as of June 30, 2024 |  |  |  |  |  |  |  | 20,000 |  |  | $ | 79.49 |  |  | 6.9 |  | $ | — |
Exercisable as of June 30, 2024 |  |  |  |  |  |  |  | 17,103 |  |  | $ | 71.44 |  |  | 6.7 |  | $ | — |
Vested and expected to vest as of June 30, 2024 |  |  |  |  |  |  |  | 20,000 |  |  | $ | 79.49 |  |  | 6.9 |  | $ | — |
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, 2024. 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, 2023 |  | 219,720 |  |  | $ | 86.78
Vested |  | (36,570) |  |  | 67.15 |
Forfeited |  | (67,371) |  |  | 49.65 |
Outstanding as of June 30, 2024 |  | 115,779 |  |  | $ | 114.59 |
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) | 2024 |  | 2023 |  | 2024 |  | 2023
Research and development expenses | $ | 297 |  |  | $ | 681 |  |  | $ | 224 |  |  | $ | 1,157 |
Selling, general and administrative expenses | 1,438 |  |  | 1,896 |  |  | 2,954 |  |  | 3,140 |
Total | $ | 1,735 |  |  | $ | 2,577 |  |  | $ | 3,178 |  |  | $ | 4,297 |
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) | 2024 |  | 2023 |  | 2024 |  | 2023
Options | $ | 70 |  |  | $ | 92 |  |  | $ | 145 |  |  | $ | 188 |
RSUs & RSAs | 1,665 |  |  | 2,499 |  |  | 3,033 |  |  | 4,099 |
ESPP | — |  |  | (14) |  |  | — |  |  | 10 |
Total | $ | 1,735 |  |  | $ | 2,577 |  |  | $ | 3,178 |  |  | $ | 4,297 |

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