Stock Compensation Plan (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Share-based Compensation, Activity |
Stock option activity under the 2011 Plan, 2018 Plan, Inducement Plan and Assumed Plans for the six months ended June 30, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | Number of Options | | Weighted Average Exercise Price
Per Share | | Weighted Average Contractual Life (years) | | Aggregate Intrinsic Value (in millions) | Outstanding - December 31, 2025 | 5,309,859 | | | $5.54 | | 2.78 | | $16.3 | | Granted | 2,484,456 | | | $7.26 | | | | | | Exercised | (508,059) | | | $2.81 | | | | | | Forfeited | (24,324) | | | $7.36 | | | | | | Expired | (194,680) | | | $7.58 | | | | | Outstanding - June 30, 2026 | 7,067,252 | | | $6.28 | | 5.00 | | $15.3 | Exercisable - June 30, 2026 | 4,607,120 | | | $5.76 | | 2.53 | | $13.7 | | | | | | | | |
SARs activity under the 2018 Plan for the six months ended June 30, 2026 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Number of SARs | | Weighted Average Exercise Price
Per Share | | Weighted Average Remaining Contractual Life (in years) | | Aggregate Intrinsic Value (in millions) | Outstanding - December 31, 2025 | 2,650,000 | | | $ | 3.36 | | | 0.98 | | $ | 11.8 | | Granted | — | | | $ | — | | | | | | Outstanding - June 30, 2026 | 2,650,000 | | | $ | 3.36 | | | 0.48 | | $ | 11.9 | Vested and exercisable at June 30, 2026 | — | | | $ | — | | | | | |
SARs fair value for the six months ended June 30, 2026 (in millions). | | | | | | | Fair Value | Balance at December 31, 2025 | $6.3 | | Change in fair value of SARs | $2.9 | Balance at June 30, 2026 | $9.2 |
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| Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions |
Stock options value assumptions: | | | | | | | Six Months Ended | | June 30, 2026 | | Expected term (in years) | 6.5 | | Risk-free interest rate | 4.3% | | Expected stock price volatility | 81.1% | | Expected dividend yield | —% |
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| Schedule of Nonvested Restricted Stock Units Activity |
A summary of outstanding RSU awards and the activity for the six months ended June 30, 2026: | | | | | | | | | | | | | Number of Units | | Weighted Average Grant Date Fair Value
Per Share | Unvested balance - December 31, 2025 | 13,511,338 | | $ | 2.93 | | | Granted | 3,343,506 | | | $ | 7.19 | | | Vested | (6,518,738) | | | $ | 2.49 | | | Forfeited | (930,997) | | | $ | 3.82 | | Unvested balance - June 30, 2026 | 9,405,109 | | $ | 4.67 | |
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| Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions |
SARs value assumptions: | | | | | | | Six Months Ended | | June 30, 2026 | | Expected term (in years) | 2.0 | | Risk-free interest rate | 3.9% | | Expected stock price volatility | 44.9% | | Expected dividend yield | —% |
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| Share-based Payment Arrangement, Expensed and Capitalized, Amount |
The following table summarizes the reporting of total stock-based compensation expense resulting from stock options, RSUs, SARs, and the ESPP (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | | Research and development | | $ | 503 | | | $ | 444 | | | $ | 1,142 | | | $ | 768 | | | | | Selling, general and administrative | | $ | 10,563 | | | $ | 4,564 | | | $ | 14,064 | | | $ | 8,683 | | | | | Total stock-based compensation expense | | $ | 11,066 | | | $ | 5,008 | | | $ | 15,206 | | | $ | 9,451 | | | |
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