| Schedule of Stock Option Activity |
The following table summarizes the Company’s stock option activity for the six months ended June 30, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | | Stock Options Outstanding | | Weighted-Average Exercise Price | | Weighted-Average Remaining Contractual Life (in years) | | Aggregate Intrinsic Value(1) (in thousands) | | Outstanding as of December 31, 2025 | 2,030,417 | | | $ | 99.45 | | | 6.8 | | $ | 298,662 | | | | Granted | 323,080 | | | $ | 280.66 | | | | | | | | Exercised | (302,747) | | | $ | 71.55 | | | | | | | | Cancelled or forfeited | (75,646) | | | $ | 162.08 | | | | | | | | | | | | | | | | Outstanding as of June 30, 2026 | 1,975,104 | | | $ | 130.97 | | | 7.0 | | $ | 475,417 | | | Exercisable as of June 30, 2026 | 1,193,485 | | | $ | 82.51 | | | 5.8 | | $ | 345,113 | | |
(1)Aggregate intrinsic value represents the difference between the closing stock price of our common stock on December 31, 2025 and June 30, 2026 and the exercise price of outstanding in-the-money options on the respective date. The following table summarizes the Company’s stock option activity for the six months ended June 30, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | Stock Options Outstanding | | Weighted-Average Exercise Price | | Weighted-Average Remaining Contractual Life (in years) | | Aggregate Intrinsic Value(1) (in thousands) | | Outstanding as of December 31, 2024 | 2,049,063 | | | $ | 82.69 | | | 7.3 | | $ | 156,404 | | | | Granted | 335,743 | | | $ | 166.90 | | | | | | | | Exercised | (45,533) | | | $ | 71.56 | | | | | | | | Cancelled or forfeited | (63,985) | | | $ | 105.98 | | | | | | | | | | | | | | | | Outstanding as of June 30, 2025 | 2,275,288 | | | $ | 94.68 | | | 7.1 | | $ | 117,142 | | | Exercisable as of June 30, 2025 | 1,255,141 | | | $ | 70.95 | | | 6.2 | | $ | 85,882 | | |
(1)Aggregate intrinsic value represents the difference between the closing stock price of our Common Stock on December 31, 2024 and June 30, 2025 and the exercise price of outstanding in-the-money options on the respective date.
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| Schedule of Restricted Stock Awards and Restricted Stock Units |
The following table summarizes the Company’s RSU activity: | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | 2026 | | 2025 | | Number of Shares | | Weighted-Average Grant Date Fair Value | | Number of Shares | | Weighted-Average Grant Date Fair Value | Non-vested RSUs, beginning of period | 331,574 | | | $ | 152.97 | | | 308,096 | | | $ | 135.22 | | | Granted | 96,522 | | | $ | 275.69 | | | 133,756 | | | $ | 178.66 | | | Vested | (106,567) | | | $ | 143.58 | | | (84,124) | | | $ | 129.58 | | Forfeited | (17,038) | | | $ | 167.39 | | | (18,850) | | | $ | 148.92 | | Non-vested RSUs, end of period | 304,491 | | | $ | 194.35 | | | 338,878 | | | $ | 153.01 | |
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| Schedule of PSU Activity |
The following table summarizes the Company’s PSU activity: | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | 2026 | | 2025 | | Number of Shares | | Weighted-Average Grant Date Fair Value | | Number of Shares | | Weighted-Average Grant Date Fair Value | Non-vested PSUs, beginning of period | 56,250 | | | $ | 159.47 | | | 137,500 | | | $ | 145.37 | | | Granted | 43,536 | | | $ | 275.64 | | | — | | | $ | — | | | Vested | (56,250) | | | $ | 159.47 | | | (81,250) | | | $ | 135.61 | | | | | | | | | | Forfeited | — | | | $ | — | | | — | | | $ | — | | Non-vested PSUs, end of period | 43,536 | | | $ | 275.64 | | | 56,250 | | | $ | 159.47 | |
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| Schedule of Stock-Based Compensation Expense, Net |
The Company recorded stock-based compensation expense, net related to its stock options, RSUs and PSUs in the condensed consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2026 and 2025 as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (in thousands) | | | | 2026 | | 2025 | | 2026 | | 2025 | | Research and development | | | | 2,463 | | | 2,627 | | | 4,640 | | | 5,096 | | | Selling, general and administrative | | | | 11,693 | | | 11,492 | | | 23,125 | | | 22,501 | | | Total stock-based compensation | | | | $ | 14,156 | | | $ | 14,119 | | | $ | 27,765 | | | $ | 27,597 | |
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