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Common Stock and Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Summary of stock option activity The following is a summary of stock option activity for the nine months ended September 30, 2021 (in thousands, except per share data):
Shares
Weighted-
Average
Exercise
Price per Share
Outstanding at December 31, 20205,311 $29.12 
Granted
1,625 18.21 
Exercised
(50)9.77 
Canceled
(330)28.73 
Outstanding at September 30, 20216,556 $26.58 
Schedule of restricted stock unit activity The following is a summary of our stock award activity for the nine months ended September 30, 2021 (in thousands, except per share data):
RSUs
PSUs
Total
Outstanding at December 31, 2020393 — 393 
Granted(1)
533 494 1,027 
Vested
(144)— (144)
Canceled
(47)(36)(83)
Outstanding at September 30, 2021735 458 1,193 
(1) Weighted-average grant date fair value
$18.11 $19.53 $18.79 
Stock-based compensation expense
The following table summarizes the components of total stock-based compensation expense included in our condensed consolidated statements of operations:
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2021202020212020
Research and development$2,905 $2,865 $10,729 $9,082 
Selling, general and administrative5,247 4,276 15,047 12,756 
Total$8,152 $7,141 $25,776 $21,838 
Stock-based compensation of $1.0 million was capitalized into inventory for the three and nine months ended September 30, 2021.
The following table summarizes stock-based compensation expense by award type included in our condensed consolidated statements of operations:
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2021202020212020
Time-based stock options and RSUs$6,962 $5,507 23,171 19,923 
Performance-based stock units1,066 1,441 2,120 1,441 
Employee stock purchase plan (ESPP)124 193 485 474 
Total$8,152 $7,141 $25,776 $21,838