11. Stock-Based Compensation The following table summarizes the classification of stock-based compensation expense in the Company’s condensed consolidated statements of operations related to employees and non-employees: | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | (in thousands) | | 2025 | | 2024 | | 2025 | | 2024 | Cost of goods sold (1) | | $ | 106 | | $ | 304 | | $ | 368 | | $ | 552 | Research and development | | | 2,131 | | | 2,266 | | | 3,841 | | | 4,460 | Selling, general and administrative | | | 3,184 | | | 4,661 | | | 6,584 | | | 9,538 | Stock-based compensation subtotal | | | 5,421 | | | 7,231 | | | 10,793 | | | 14,550 | Less: Stock-based compensation from discontinued operations | | | (255) | | | (372) | | | (581) | | | (875) | Total stock-based compensation expense from continuing operations | | $ | 5,166 | | $ | 6,859 | | $ | 10,212 | | $ | 13,675 | | | | | | | | | | | | | | Total stock-based compensation expense capitalized into inventory | | $ | 43 | | $ | 400 | | $ | 286 | | $ | 794 |
(1) Stock-based compensation capitalized into inventory is recognized as cost of goods sold when the related product is sold.
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