A total of 9,600,000 shares of common stock have been reserved for issuance under the La Jolla Pharmaceutical Company 2013 Equity Incentive Plan (the “2013 Equity Plan”). As of June 30, 2022 and December 31, 2021, 3,147,040 shares of common stock and 5,503,796 shares of common stock, respectively, remained available for future grants under the 2013 Equity Plan. The Company has not granted stock options under the 2013 Equity Plan since June 30, 2022.

A total of 750,000 shares of common stock have been reserved for issuance under the La Jolla Pharmaceutical Company 2018 Employee Stock Purchase Plan (the “ESPP”). As of June 30, 2022 and December 31, 2021, 262,234 shares of common stock and 335,473 shares of common stock, respectively, remained available for future grants under the ESPP. In connection with the Merger Agreement (see Note 15), the ESPP was suspended on July 10, 2022, and will be terminated subject to the consummation of the transactions contemplated by the Merger Agreement.

The activity related to equity awards, which are comprised of stock options, during the six months ended June 30, 2022 is summarized as follows:

	Equity Awards			Weighted- average Exercise Price per Share		Weighted- average Remaining Contractual Term⁽¹⁾ (years)		Aggregate Intrinsic Value⁽²⁾ (millions)
Outstanding at December 31, 2021		4,096,204		$	7.22
Granted		2,582,543		$	4.73
Exercised		(500	)	$	3.62
Cancelled/forfeited		(225,287	)	$	6.12
Outstanding at June 30, 2022		6,452,960		$	6.27		8.4	$	0.0
Exercisable at June 30, 2022		2,118,281		$	9.61		5.7	$	0.0

⁽¹⁾Represents the weighted-average remaining contractual term of stock options.

⁽²⁾ Aggregate intrinsic value represents the product of the number of equity awards outstanding or equity awards exercisable multiplied by the difference between the Company’s closing stock price per share on the last trading day of the period, which was $3.19 as of June 30, 2022, and the exercise price.

The classification of share-based compensation expense is summarized as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Selling, general and administrative	$	1,334	$	977	$	2,579	$	1,817
Research and development		18		47		35		323
Total share-based compensation expense	$	1,352	$	1,024	$	2,614	$	2,140

As of June 30, 2022, total unrecognized share-based compensation expense related to unvested equity awards was $13.0 million, which is expected to be recognized over a weighted-average period of 3.1 years. As of June 30, 2022, there was no unrecognized share-based compensation expense related to shares of common stock issued under the ESPP.