Share-Based Payments (Tables)
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3 Months Ended |
Mar. 31, 2024 |
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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 three months ended March 31, 2024: | | | | | | | | | | | | | Number of
Stock Options | | Weighted-Average Exercise Price | | Outstanding at December 31, 2023 | 5,263,681 | | | $ | 44.94 | | | Granted | 808,415 | | | 32.20 | | | Exercised | (148,626) | | | 31.04 | | | Cancelled/Forfeited | (9,357) | | | 41.86 | | | Expired | (5,250) | | | 26.15 | | | Outstanding at March 31, 2024 | 5,908,863 | | | $ | 43.56 | | | Exercisable at March 31, 2024 | 3,475,385 | | | $ | 52.67 | | | Vested and expected to vest at March 31, 2024 | 5,908,863 | | | $ | 43.56 | |
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| Schedule of RSU Activity |
The following table presents RSU activity for the three months ended March 31, 2024: | | | | | | | | | | | | | Number of
Stock Units | | Weighted-Average Grant Date Fair Value | | Unvested shares at December 31, 2023 | 1,346,701 | | | $ | 29.67 | | | Granted | 989,378 | | | 30.91 | | | Vested | (460,470) | | | 33.54 | | | Forfeited | (10,424) | | | 29.75 | | | Unvested shares at March 31, 2024 | 1,865,185 | | | $ | 29.37 | |
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| Schedule of PSU Activity |
The following table presents PSU activity for the three months ended March 31, 2024: | | | | | | | | | | | | | Number of
Stock Units | | Weighted-Average Grant Date Fair Value | | Unvested shares at December 31, 2023 | 362,133 | | | $ | 30.66 | | | Granted | 183,000 | | | 32.27 | | | Vested | (145,023) | | | 36.04 | | | | | | | Unvested shares at March 31, 2024 | 400,110 | | | $ | 29.45 | |
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| Schedule of Market-based Stock Unit or MSU Activity |
The following table presents market-based stock unit, or MSU, activity for the three months ended March 31, 2024: | | | | | | | | | | | | | Number of
Stock Units | | Weighted-Average
Grant Date Fair
Value | | Unvested shares at December 31, 2023 | 42,695 | | | $ | 41.50 | | | | | | | | | | | Expired | (42,695) | | | 41.50 | | | Unvested shares at March 31, 2024 | — | | | $ | — | |
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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
March 31, | | | | (In thousands) | 2024 | | 2023 | | | | | | Stock options | $ | 4,071 | | | $ | 4,957 | | | | | | | Restricted stock units | 4,966 | | | 4,947 | | | | | | | | | | | | | | | Employee stock purchase plan | 197 | | | 235 | | | | | | | | | | | | | | | Total stock-based compensation expense | $ | 9,234 | | | $ | 10,139 | | | | | |
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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
March 31, | | | | (In thousands) | 2024 | | 2023 | | | | | | Research and development expense | $ | 3,775 | | | $ | 4,355 | | | | | | | Selling, general and administrative expense | 5,459 | | | 5,784 | | | | | | | Total stock-based compensation expense | $ | 9,234 | | | $ | 10,139 | | | | | |
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