XML 56 R40.htm IDEA: XBRL DOCUMENT v3.24.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value Assumptions for Stock Options The following table summarizes the grant date fair value and assumptions used in determining the fair value of all stock options granted, including grants of inducement options, during the years ended December 31, 2023, 2022 and 2021.
202320222021
Volatility
62% - 70%
69% - 70%
70% - 71%
Risk-free interest rate
3.36% - 4.72%
1.37% - 4.27%
0.36% - 1.20%
Dividend yield0.0%0.0%0.0%
Expected option term (in years)6.055.935.84
Weighted average fair value of stock options granted$13.12$13.19$18.50
Schedule of Stock Option Activity
The following table summarizes stock option activity for stock options granted for the years ended December 31, 2023, 2022 and 2021 as follows:
 
Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life in Years
Aggregate
Intrinsic
Value
(in '000)
Options outstanding at December 31, 202012,263,402 $18.84 
Granted4,039,360 $30.18 
Exercised(1,235,186)$15.50 
Forfeited and expired(978,616)$24.35 
Options outstanding at December 31, 202114,088,960 $22.00 
Exercisable at December 31, 20217,292,851 $17.97 
Granted5,614,220 $20.89 
Exercised(1,151,341)$14.41 
Forfeited and expired(1,026,543)$25.70 
Options outstanding at December 31, 202217,525,296 $21.93 
Exercisable at December 31, 20228,587,820 $20.35 
Granted6,650,880 $20.20 
Exercised(871,933)$16.03 
Forfeited and expired(791,674)$24.01 
Options outstanding at December 31, 202322,512,569 $21.58 7.08$216,537 
Exercisable at December 31, 202311,125,232 $21.41 5.42$109,109 
Schedule of RSU Activity
The following table summarizes RSU awards granted during the years ended December 31, 2023, 2022 and 2021:
 
Number of
RSUs
Weighted
Average
Grant Price
Outstanding at December 31, 2020844,391 $25.43 
Granted607,578 $29.40 
Released(291,823)$25.93 
Forfeited(140,432)$27.73 
Outstanding at December 31, 20211,019,714 $27.33 
Granted1,021,219 $20.34 
Released(417,894)$26.79 
Forfeited(103,139)$24.04 
Outstanding at December 31, 20221,519,900 $23.00 
Granted1,934,822 $19.26 
Released(574,219)$22.89 
Forfeited(130,209)$20.87 
Outstanding at December 31, 20232,750,294 $20.50 
Schedule of Allocation of Employee Stock-Based Compensation
The following table summarizes the aggregate stock-based compensation expense recorded in the consolidated statements of comprehensive loss related to stock options, RSUs and ESPP during the years ended December 31, 2023, 2022 and 2021 (in millions):
Years Ended December 31,
 202320222021
Research and development expenses$35.9 $26.4 $17.8 
Selling, general and administrative expenses38.9 31.3 28.2 
  Total stock-based compensation expense$74.8 $57.7 $46.0