Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Stock-Based Compensation Expense

The following table presents stock-based compensation expense in the Company’s condensed consolidated statements of comprehensive income:

	Three Months Ended March 31,
	2023		2022
	(Amounts in thousands)
Cost of product revenue	$	591	$	622
Research and development		787		799
Selling, general and administrative		5,876		6,494
Total stock-based compensation	$	7,254	$	7,915

Summary of Option Activity

Information regarding option activity for the three months ended March 31, 2023 under the Plans is summarized below:

	Shares			Weighted average exercise price		Weighted- Average Remaining Contractual Term (in Years)		Aggregate Intrinsic Value (in Thousands)
Options outstanding at December 31, 2022		609,965		$	71.74
Granted		42,982		$	181.03
Exercised		(1,300	)	$	22.41
Forfeited/expired/cancelled		(2,000	)	$	199.71
Options outstanding at March 31, 2023		649,647		$	78.68
Options exercisable at March 31, 2023		374,084		$	54.57
Vested and expected to vest at March 31, 2023(1)		633,533		$	78.10		5.91	$	60,647

(1)Represents the number of vested options as of March 31, 2023 plus the number of unvested options expected to vest as of March 31, 2023 based on the unvested outstanding options at March 31, 2023 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

Summary of Restricted Stock Unit Activity

Information regarding stock unit activity, which includes activity for RSUs and performance stock units, for the three months ended March 31, 2023 under the Plans is summarized below:

	Shares			Weighted Average Grant Date Fair Value
Unvested at December 31, 2022		531,034		$	142.57
Awarded		130,929		$	180.05
Vested		(123,938	)	$	118.33
Forfeited/cancelled		(21,529	)	$	195.74
Unvested at March 31, 2023		516,496		$	154.72
Vested and expected to vest at March 31, 2023(1)		479,766		$	153.33

Represents the number of vested stock units as of March 31, 2023 plus the number of unvested stock units expected to vest as of March 31, 2023 based on the unvested outstanding stock units at March 31, 2023 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.