STOCKHOLDERS' EQUITY (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| STOCKHOLDERS’ EQUITY [Abstract] |
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| Schedule Common Stock Repurchase |
The following table summarizes the common stock repurchase activity under the Repurchase Program:
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| | Three Months Ended June 30, |
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| | Six Months Ended June 30, |
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2026
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2025
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2026
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2025
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(In thousands)
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Shares repurchased
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| | 7,062 | |
| | 816 | |
| | 13,816 | |
| | 816 | |
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Total cost of shares repurchased
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| $ | 45,282 | |
| $ | 15,148 | |
| $ | 156,362 | |
| $ | 15,148 | |
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| Schedule of Assumptions |
The following assumptions were used to determine the fair value of options granted during the six months ended June 30, 2026 and 2025:
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| | Six Month Ended June 30, |
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2026
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2025
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Expected term
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| | 5.5 - 6.3 years | |
| | 5.5 - 6.3 years | |
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Volatility
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| | 68 | % |
| | 66 | % |
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Dividend yield
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| | 0.0 | |
| | 0.0 | |
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Risk-free interest rate
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| | 3.80 - 3.87 | % |
| | 4.40 | % |
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| Schedule of Option Activity |
The following table summarizes information about the Company’s stock options under the Company’s equity incentive plans and related information:
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Shares
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Weighted-
Average
Exercise Price
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Options outstanding, vested and expected to vest at December 31, 2025
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| | 4,682,783 | |
| $ | 6.13 | |
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Forfeited
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| | (117,629 | ) |
| $ | 14.85 | |
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Expired
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| | - | |
| $ | - | |
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Granted
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| | 695,321 | |
| $ | 16.37 | |
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Exercised
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| | (209,290 | ) |
| $ | 3.25 | |
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Options outstanding, vested and expected to vest at June 30, 2026
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| | 5,051,185 | |
| $ | 7.46 | |
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Options exercisable
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| | 3,250,165 | |
| $ | 4.97 | |
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| Schedule of Unvested RSU Activity |
A summary of the Company’s RSU activity and related information is as follows:
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Shares
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Weighted-
Average Grant
Date Fair Value
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Balance at December 31, 2025
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| | 5,144,503 | |
| $ | 9.31 | |
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Granted
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| | 1,297,884 | |
| $ | 15.66 | |
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Vested
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| | (1,694,229 | ) |
| $ | 7.22 | |
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Forfeited
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| | (206,487 | ) |
| $ | 12.09 | |
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Balance at June 30, 2026
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| | 4,541,671 | |
| $ | 11.77 | |
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| Schedule of Stock-Based Compensation Expense |
Total stock-based compensation expense for all awards granted under the Company’s equity incentive plans for the three and six months ended June 30, 2026 and 2025 was as follows:
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| | Three Months Ended June 30, |
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| | Six Months Ended June 30,
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(in thousands)
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2026
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2025
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2026
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2025
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Research and development
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| $ | 75 | |
| $ | 51 | |
| $ | 141 | |
| $ | 90 | |
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Plasma center operating expenses
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| | 143 | |
| | 101 | |
| | 266 | |
| | 178 | |
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Selling, general and administrative
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| | 4,837 | |
| | 3,955 | |
| | 9,987 | |
| | 7,828 | |
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Cost of product revenue
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| | 1,080 | |
| | 856 | |
| | 2,070 | |
| | 1,491 | |
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Total stock-based compensation expense
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| $ | 6,135 | |
| $ | 4,963 | |
| $ | 12,464 | |
| $ | 9,587 | |
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