Share-Based Payments (Tables)
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6 Months Ended |
Jun. 30, 2023 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Company's Stock Option Activity |
The following table presents stock option activity for the six months ended June 30, 2023: | | | | | | | | | | | | | Number of
Stock Options | | Weighted-Average Exercise Price | | Outstanding at December 31, 2022 | 5,772,564 | | | $ | 48.81 | | | Granted | 853,686 | | | 25.84 | | | Exercised | (152,849) | | | 9.97 | | | Forfeited/Expired | (684,129) | | | 56.55 | | | Outstanding at June 30, 2023 | 5,789,272 | | | $ | 45.53 | | | Exercisable at June 30, 2023 | 3,403,431 | | | $ | 55.74 | | | Vested and expected to vest at June 30, 2023 | 5,789,272 | | | $ | 45.53 | |
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| Unvested Stock Unit Activity |
The following table presents RSU activity for the six months ended June 30, 2023: | | | | | | | | | | | | | Number of
Stock Units | | Weighted-Average Grant Date Fair Value | | Unvested shares at December 31, 2022 | 1,117,921 | | | $ | 38.30 | | | Granted | 856,710 | | | 25.87 | | | Vested | (395,095) | | | 42.52 | | | Forfeited | (164,317) | | | 33.28 | | | Unvested shares at June 30, 2023 | 1,415,219 | | | $ | 30.18 | |
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| Schedule of Performance-Based Units |
The following table presents PSU activity for the six months ended June 30, 2023: | | | | | | | | | | | | | Number of
Stock Units | | Weighted-Average Grant Date Fair Value | | Unvested shares at December 31, 2022 | 430,243 | | | $ | 35.87 | | | Granted | 125,897 | | | 25.23 | | | Vested | (92,257) | | | 30.18 | | | Forfeited | (95,250) | | | 46.53 | | | Unvested shares at June 30, 2023 | 368,633 | | | $ | 30.90 | |
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| Schedule of Market-Based Units Activity |
The following table presents market-based stock unit, or MSU, activity for the six months ended June 30, 2023: | | | | | | | | | | | | | Number of
Stock Units | | Weighted-Average
Grant Date Fair
Value | | Unvested shares at December 31, 2022 | 42,695 | | | $ | 41.50 | | | Granted | — | | | — | | | | | | | | | | | Unvested shares at June 30, 2023 | 42,695 | | | $ | 41.50 | |
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| Schedule of Stock-Based Compensation Expense by Award Type Included Within the Condensed Consolidated Statements of Operations |
Stock-based compensation expense by award type included within the condensed consolidated statements of operations is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | (In thousands) | 2023 | | 2022 | | 2023 | | 2022 | | Stock options | $ | 3,937 | | | $ | 5,655 | | | $ | 8,894 | | | $ | 11,856 | | | Restricted stock units | 4,754 | | | 5,232 | | | 9,701 | | | 11,397 | | | Performance-based stock units | 2,784 | | | — | | | 2,784 | | | 2,919 | | | Employee stock purchase plan | 262 | | | 278 | | | 497 | | | 503 | | | | | | | | | | | Total stock-based compensation expense | $ | 11,737 | | | $ | 11,165 | | | $ | 21,876 | | | $ | 26,675 | |
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| Schedule of Allocated Stock-Based Compensation Expense |
Expenses related to stock options and stock-based awards were allocated as follows in the condensed consolidated statements of operations: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | (In thousands) | 2023 | | 2022 | | 2023 | | 2022 | | Research and development expense | $ | 4,540 | | | $ | 4,923 | | | $ | 8,895 | | | $ | 11,579 | | | Selling, general and administrative expense | 7,197 | | | 6,242 | | | 12,981 | | | 15,096 | | | Total stock-based compensation expense | $ | 11,737 | | | $ | 11,165 | | | $ | 21,876 | | | $ | 26,675 | |
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