Stock-Based Compensation Expense (Tables)

9 Months Ended

Sep. 30, 2026

Effect of Recording Stock-Based Compensation Expense

The effect of recording stock-based compensation expense for the three and nine months ended September 30, 2026 and 2025 is as follows (in thousands):


		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Research and development		$	2,065			$	1,488				5,715				4,144
Selling, general and administrative			8,576				7,195				24,139				21,483
Total stock-based compensation expense		$	10,641			$	8,683			$	29,854			$	25,627

Performance Stock Units

Schedule of Assumptions Used to Value Awards Granted

The following assumptions were used to value the performance stock awards subject to market conditions granted during the nine months ended September 30, 2026 and 2025:


		Nine Months Ended September 30,
		2026		2025
Expected life (years)		1.9 - 2.8			3.0
Risk-free interest rate		3.3% - 3.5%			3.9	%
Dividend yield		1.2% - 1.3%			1.5	%
Expected volatility		48.9% - 50.6%			46.4	%

The following assumptions were used to value the shares for these grants.


		Nine Months Ended September 30,
		2026				2025
Expected life (years)			2.0				2.0
Risk-free interest rate			4.1	%			3.9	%
Dividend yield			1.0	%			1.4	%
Expected volatility			54.1	%			46.0	%