v3.25.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value of Options
The fair value of the stock options granted were estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Expected stock price volatility55.4 %56.6 %55.5 %57.2 %
Risk free interest rate4.0 %4.3 %4.3 %4.0 %
Expected life of options (years)5.65.65.65.6
Expected annual dividend per share$— $— $— $— 
Schedule of Stock Options Activity A summary of the Company's stock options for the six months ended June 30, 2025 were as follows:
Number of
Shares		Weighted Average Exercise 
Price		Weighted Average Remaining
Years		Aggregate
Intrinsic
Value
 (in thousands)  (in millions)
Options outstanding, December 31, 202426,013 $12.11   
Granted3,522 $8.60   
Exercised(19)$7.34   
Forfeited(272)$11.21   
Expired(973)$12.99 
Options outstanding, June 30, 202528,271 $11.65 5.9$0.4 
Vested and non-vested expected to vest, June 30, 202527,036 $11.66 5.8$0.4 
Exercisable at June 30, 202519,534 $11.91 4.7$0.4 
Schedule of Non-Vested RSU Activity under the Plan A summary of non-vested RSU activity for the six months ended June 30, 2025 is as follows:
Number of
Shares		Weighted
Average Grant
Date Fair
Value		Weighted 
Average
Remaining 
Years		Aggregate
Intrinsic
Value
(in thousands)(in millions)
Non-vested units as of December 31, 20248,277 $13.59   
Granted7,234 $8.82   
Vested(2,283)$11.46   
Forfeited(519)$11.03   
Non-vested units as of June 30, 202512,709 $11.13 2.6$72.8 
Schedule of Equity Compensation Expenses
The following table summarizes information related to compensation expense recognized in the Company's Consolidated Statements of Operations related to the equity awards:
 Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Research and development expense$2,393 $3,061 $6,397 $7,932 
Selling, general, and administrative expense15,166 13,136 36,334 39,068 
Total equity compensation expense$17,559 $16,197 $42,731 $47,000