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Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Fair Value of Options
The fair value of the stock options granted is estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:
 Three Months Ended March 31,
 20222021
Expected stock price volatility62.3 %66.7 %
Risk free interest rate1.5 %0.4 %
Expected life of options (years)5.35.4
Expected annual dividend per share$— $— 
Schedule of Stock Options Activity A summary of the Company's stock options for the three months ended March 31, 2022 were as follows:
Number of
Shares
Weighted Average Exercise 
Price
Weighted Average Remaining
Years
Aggregate
Intrinsic
Value
 (in thousands)  (in millions)
Options outstanding, December 31, 202114,731 $11.08   
Granted4,892 $11.89   
Exercised(149)$6.00   
Forfeited(127)$12.57   
Expired(43)$11.74 
Options outstanding, March 31, 202219,304 $11.31 7.1$12.3 
Vested and unvested expected to vest, March 31, 202217,174 $11.16 6.8$12.2 
Exercisable at March 31, 20229,932 $10.20 5.1$12.0 
Schedule of Non-Vested RSU Activity under the Plan A summary of non-vested RSU activity under the Plan for the three months ended March 31, 2022 is as follows:
Number of
Shares
Weighted
Average Grant
Date Fair
Value
Weighted 
Average
Remaining 
Years
Aggregate
Intrinsic
Value
(in thousands)(in millions)
Non-vested units as of December 31, 20217,341 $13.90   
Granted4,633 $12.12   
Vested(1,538)$12.70   
Forfeited(85)$12.57   
Non-vested units as of March 31, 202210,351 $13.16 2.7$98.0 
Schedule of Equity Compensation Expenses
The following table summarizes information related to compensation expense recognized in the Consolidated Statements of Operations related to the equity awards:
 Three Months Ended March 31,
(in thousands)20222021
Research and development expense$9,365 $6,305 
Selling, general, and administrative expense21,286 14,049 
Total equity compensation expense$30,651 $20,354