XML 51 R34.htm IDEA: XBRL DOCUMENT v3.24.0.1
Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Share-based Compensation Expense Related To Share-based Payment Awards Excluding Acceleration of Antares Equity Awards
Total share-based compensation expense related to share-based awards was comprised of the following (in thousands):
Year Ended December 31,
 202320222021
Research and development$13,345 $9,903 $6,992 
Selling, general and administrative23,275 14,494 13,828 
Total share-based compensation expense
$36,620 $24,397 $20,820 
Share-based Compensation Expense By Type
Share-based compensation expense by type of share-based award (in thousands):
Year Ended December 31,
 202320222021
Stock options$16,351 $10,973 $10,252 
RSAs, RSUs, PSUs and ESPP20,269 13,424 10,568 
Total share-based compensation expense
$36,620 $24,397 $20,820 
Total Unrecognized Estimated Compensation Cost By Type Of Award and Weighted Average Remaining Requisite Service Period
Total unrecognized estimated compensation cost by type of award and the weighted-average remaining requisite service period over which such expense is expected to be recognized as of December 31, 2023 (in thousands, unless otherwise noted):
December 31, 2023
 Unrecognized
Expense
Remaining
Weighted-Average
Recognition Period
( in years)
Stock options$39,841 2.68
RSUs33,566 2.34
PSUs6,110 1.43
ESPP262 0.45
Summary of Stock Option Award Activity
A summary of our stock option award activity as of and for the year ended December 31, 2023 is as follows: 
Shares
Underlying
Stock Options		Weighted
Average Exercise
Price per Share
Weighted
Average
Remaining
Contractual
Term ( in years)
Aggregate
Intrinsic
Value (in millions)
Outstanding as of December 31, 2022
5,368,225 $24.99 
Granted1,979,286 43.93 
Exercised(565,343)17.70 
Canceled/forfeited(359,331)42.33 
Outstanding as of December 31, 2023
6,422,837 30.50 6.64$64.0 
Vested and expected to vest as of December 31, 2023
6,422,837 30.50 6.6464.0 
Exercisable as of December 31, 2023
3,620,251 $21.67 4.96$60.0 
Schedule of Valuation Assumptions The assumptions used in the Black-Scholes Model were as follows:
Year Ended December 31,
 202320222021
Expected volatility
39.68 - 40.82%
39.91 - 50.81%
41.01 - 46.45%
Average expected term (in years)4.84.74.7
Risk-free interest rate
3.37 - 4.72%
1.37 - 4.27%
0.36 - 1.20%
Expected dividend yield— — — 
Summary of RSU Activity
The following table summarizes our RSU activity during the year ended December 31, 2023:
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Weighted
Average
Remaining
Contractual
Term (in years)
Aggregate
Intrinsic
Value (in millions)
Outstanding as of December 31, 2022
1,039,381 $35.76 
Granted646,793 45.16 
Vested(400,309)32.11 
Forfeited(146,529)43.50 
Outstanding as of December 31, 2023
1,139,336 $41.38 1.27$42.1 
Schedule of PSU Activity
The following table summarizes our PSU activity during the year ended December 31, 2023:
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Outstanding as of December 31, 2022
142,844 $46.01 
Granted106,174 59.34 
Vested(3,803)49.35 
Forfeited(2,660)52.79 
Outstanding as of December 31, 2023
242,555 $51.72