v3.25.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Activity Relating to Restricted Stock Units

The following table summarizes activity relating to time-based restricted stock units and performance restricted stock units:

 

 

 

Shares

 

Weighted Average Grant Date Fair Value

 

Outstanding as of December 31, 2024

 

 

3,000,390

 

$

30.04

 

Granted

 

 

1,905,452

 

$

7.43

 

Vested

 

 

(1,144,903

)

$

21.17

 

Forfeited

 

 

(549,248

)

$

29.15

 

Outstanding as of March 31, 2025

 

 

3,211,691

 

$

19.93

 

Summary of Activity Relating to Time Based and Performance Based Stock Options

The following table summarizes activity related to time-based and performance-based stock options:

 

 

 

Shares

 

 

Weighted
Average Exercise
Price

 

 

Weighted Average
Remaining Life
(in years)

 

 

Aggregate
Intrinsic Value
(in thousands)

 

Outstanding as of December 31, 2024

 

 

5,757,824

 

 

$

52.52

 

 

 

5.34

 

 

$

 

Granted

 

 

792,315

 

 

$

6.94

 

 

 

 

 

 

 

Forfeited

 

 

(577,884

)

 

$

58.94

 

 

 

 

 

 

 

Expired

 

 

(400,952

)

 

$

38.26

 

 

 

 

 

 

 

Outstanding as of March 31, 2025

 

 

5,571,303

 

 

$

46.40

 

 

 

6.20

 

 

$

910

 

Exercisable as of March 31, 2025

 

 

3,509,054

 

 

$

55.73

 

 

 

5.03

 

 

$

 

Summary of Stock-Based Compensation Expense Recognized

The following table summarizes stock-based compensation expense recognized during the three months ended March 31, 2025 and 2024:

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Research and development

 

$

2,056

 

 

$

4,965

 

Selling, general and administrative

 

 

4,871

 

 

 

8,733

 

 

$

6,927

 

 

$

13,698

 

Summary of Stock-Based Compensation Expense by Award Type

The following table summarizes stock-based compensation expense by award type recognized during the three months ended March 31, 2025 and 2024:

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Stock options

 

$

3,355

 

 

$

7,451

 

Restricted stock units

 

 

3,395

 

 

 

5,719

 

Employee stock purchase plan

 

 

177

 

 

 

528

 

 

$

6,927

 

 

$

13,698