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STOCK-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
STOCK-BASED COMPENSATION 2. STOCK-BASED COMPENSATION

The following table summarizes the Company’s stock awards granted for each of the periods indicated:

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

Grants

 

 

Weighted
Average
Grant
Date Fair
Value

 

 

Grants

 

 

Weighted
Average
Grant
Date Fair
Value

 

 

Grants

 

 

Weighted
Average
Grant
Date Fair
Value

 

 

Grants

 

 

Weighted
Average
Grant
Date Fair
Value

 

Stock options

 

 

91,200

 

 

$

42.62

 

 

 

97,240

 

 

$

73.88

 

 

 

1,522,947

 

 

$

48.50

 

 

 

1,256,064

 

 

$

59.08

 

Restricted stock units

 

 

47,594

 

 

$

83.37

 

 

 

49,430

 

 

$

148.63

 

 

 

774,201

 

 

$

86.34

 

 

 

592,867

 

 

$

119.36

 

 

Stock-based Compensation Expense

For the three months ended September 30, 2021 and 2020, total stock-based compensation expense was $26.7 million and $26.9 million, respectively. For the nine months ended September 30, 2021 and 2020, total stock-based compensation expense was $84.2 million and $78.5 million, respectively. The following table summarizes stock-based compensation expense by function included within the unaudited condensed consolidated statements of operations and comprehensive loss:

 

 

 

For the Three Months Ended
September 30,

 

 

For the Nine Months Ended
September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

(in thousands)

 

Research and development

 

$

12,031

 

 

$

10,645

 

 

$

36,017

 

 

$

31,034

 

Selling, general and administrative

 

 

14,653

 

 

 

16,258

 

 

 

48,144

 

 

 

47,509

 

Total stock-based compensation expense

 

$

26,684

 

 

$

26,903

 

 

$

84,161

 

 

$

78,543

 

 

 

The following table summarizes stock-based compensation expense by grant type included within the unaudited condensed consolidated statements of operations and comprehensive loss:

 

 

 

For the Three Months Ended
September 30,

 

 

For the Nine Months Ended
September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

(in thousands)

 

Stock options

 

$

13,912

 

 

$

16,474

 

 

$

48,518

 

 

$

49,677

 

Restricted stock awards/units

 

 

11,695

 

 

 

8,950

 

 

 

32,199

 

 

 

24,047

 

Employee stock purchase plan

 

 

1,077

 

 

 

1,479

 

 

 

3,444

 

 

 

4,819

 

Total stock-based compensation expense

 

$

26,684

 

 

$

26,903

 

 

$

84,161

 

 

$

78,543