Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(Amounts in thousands)
Cost of product revenue	$	522	$	615	$	1,113	$	1,237
Research and development		608		622		1,395		1,421
Selling, general and administrative		4,353		5,748		10,229		12,242
Total stock-based compensation	$	5,483	$	6,985	$	12,737	$	14,900

Summary of Option Activity

Information regarding option activity for the six months ended June 30, 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		55,545		$	175.75
Exercised		(4,650	)	$	13.30
Forfeited/expired/cancelled		(2,000	)	$	199.71
Options outstanding at June 30, 2023		658,860		$	80.53
Options exercisable at June 30, 2023		387,604		$	58.94
Vested and expected to vest at June 30, 2023(1)		644,427		$	80.08		5.77	$	47,205

(1)Represents the number of vested options as of June 30, 2023 plus the number of unvested options expected to vest as of June 30, 2023 based on the unvested outstanding options at June 30, 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 six months ended June 30, 2023 under the Plans is summarized below:

	Shares			Weighted Average Grant Date Fair Value
Unvested at December 31, 2022		531,034		$	142.57
Awarded		158,084		$	176.86
Vested		(156,784	)	$	115.85
Forfeited/cancelled		(39,397	)	$	182.56
Unvested at June 30, 2023		492,937		$	157.94
Vested and expected to vest at June 30, 2023(1)		432,340		$	154.21

Represents the number of vested stock units as of June 30, 2023 plus the number of unvested stock units expected to vest as of June 30, 2023 based on the unvested outstanding stock units at June 30, 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.