Share-Based Payments (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Company's Stock Option Activity |
The following table presents stock option activity for the nine months ended September 30, 2026: | | | | | | | | | | | | | Number of
Stock Options | | Weighted-Average Exercise Price | | Outstanding at December 31, 2025 | 6,113,063 | | | $ | 39.62 | | | Granted | 851,777 | | | 29.98 | | | Exercised | (195,618) | | | 30.09 | | | Cancelled/Forfeited | (221,212) | | | 46.28 | | | Expired | (137,127) | | | 42.35 | | | Outstanding at September 30, 2026 | 6,410,883 | | | $ | 38.34 | | | Exercisable at September 30, 2026 | 4,682,168 | | | $ | 40.88 | | | Vested and expected to vest at September 30, 2026 | 6,410,883 | | | $ | 38.34 | |
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| Schedule of RSU Activity |
The following table presents RSU activity for the nine months ended September 30, 2026: | | | | | | | | | | | | | Number of
Stock Units | | Weighted-Average Grant Date Fair Value | | Unvested shares at December 31, 2025 | 2,007,463 | | | $ | 32.03 | | | Granted | 1,366,206 | | | 29.40 | | | Vested | (909,955) | | | 30.15 | | | Forfeited | (233,036) | | | 32.19 | | | Unvested shares at September 30, 2026 | 2,230,678 | | | $ | 31.17 | |
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| Schedule of PSU Activity |
The following table presents PSU activity for the nine months ended September 30, 2026: | | | | | | | | | | | | | Number of
Stock Units | | Weighted-Average Grant Date Fair Value | | Unvested shares at December 31, 2025 | 376,978 | | | $ | 32.55 | | | Granted | 83,500 | | | 29.20 | | | Vested | (103,128) | | | 31.69 | | | Forfeited | (107,438) | | | 33.19 | | | Unvested shares at September 30, 2026 | 249,912 | | | $ | 31.52 | |
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| Schedule of Nonvested Share Activity |
The following table presents MSU activity for the nine months ended September 30, 2026: | | | | | | | | | | | | | Number of
Stock Units | | Weighted-Average Grant Date Fair Value | | Unvested shares at December 31, 2025 | — | | | $ | — | | | Granted | 131,500 | | | 49.34 | | | | | | | | | | | Unvested shares at September 30, 2026 | 131,500 | | | $ | 49.34 | |
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| Schedule of Stock-Based Compensation Expense by Award Type Included within the Condensed Consolidated Statements of Operations |
Stock-based compensation expense by award type included within the condensed consolidated statements of operations is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | | (In thousands) | 2026 | | 2025 | | 2026 | | 2025 | | Stock options | $ | 4,218 | | | $ | 4,365 | | | $ | 14,670 | | | $ | 13,387 | | | Restricted stock units | 8,206 | | | 7,655 | | | 23,351 | | | 21,846 | | | Performance-based stock units | 3,260 | | | — | | | 7,492 | | | 2,188 | | | Market-based stock units | 577 | | | — | | | 1,341 | | | — | | | Employee stock purchase plan | 411 | | | 357 | | | 1,300 | | | 1,007 | | | | | | | | | | | Total stock-based compensation expense | $ | 16,672 | | | $ | 12,377 | | | $ | 48,154 | | | $ | 38,428 | |
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| Schedule of Expenses Related to Stock Options and Stock-based Awards |
Expenses related to stock options and stock-based awards were allocated as follows in the condensed consolidated statements of operations: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (In thousands) | 2026 | | 2025 | | 2026 | | 2025 | | Research and development expense | $ | 6,116 | | | $ | 5,146 | | | $ | 18,626 | | | $ | 15,086 | | | Selling, general and administrative expense | 10,556 | | | 7,231 | | | 29,528 | | | 23,342 | | | Total stock-based compensation expense | $ | 16,672 | | | $ | 12,377 | | | $ | 48,154 | | | $ | 38,428 | |
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