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v3.24.1

Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Segment information for the years ended December 31, 2023 and 2022 is as follows (in thousands):
|  | Year Ended December 31, 2023 |
|  | BC |  |  | Gyre |  |  | Other |  |  | Consolidated |
Revenues |  | $ | 113,450 |  |  | $ | — |  |  | $ | — |  |  | $ | 113,450 |
Cost of revenues |  |  | 4,636 |  |  |  | — |  |  |  | — |  |  |  | 4,636 |
Gross profit |  |  | 108,814 |  |  |  | — |  |  |  | — |  |  |  | 108,814 |
Operating expenses excluding cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing |  |  | 61,159 |  |  |  | — |  |  |  | — |  |  |  | 61,159 |
Research and development |  |  | 13,698 |  |  |  | 82 |  |  |  | — |  |  |  | 13,780 |
General and administrative |  |  | 8,872 |  |  |  | 5,214 |  |  |  | 576 |  | (1) |  | 14,662 |
Acquired in-process research and development |  |  | — |  |  |  | 83,104 |  |  |  | — |  |  |  | 83,104 |
Divestiture losses |  |  | — |  |  |  | — |  |  |  | 2,711 |  | (2) |  | 2,711 |
Loss on disposal of property and equipment |  |  | 628 |  |  |  | — |  |  |  | — |  |  |  | 628 |
Total operating expenses excluding cost of revenues |  |  | 84,357 |  |  |  | 88,400 |  |  |  | 3,287 |  |  |  | 176,044 |
Income (Loss) from operations |  | $ | 24,457 |  |  | $ | (88,400 | ) |  | $ | (3,287 | ) |  | $ | (67,230 | )
Supplemental Disclosure of stock-based compensation expense |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  | $ | 52 |  |  | $ | — |  |  | $ | — |  |  | $ | 52 |
Selling and marketing |  |  | 344 |  |  |  | — |  |  |  | — |  |  |  | 344 |
Research and development |  |  | 481 |  |  |  | — |  |  |  | — |  |  |  | 481 |
General and administrative |  |  | 1,916 |  |  |  | 4,488 |  |  |  | — |  |  |  | 6,404 |
Stock-based compensation total |  | $ | 2,793 |  |  | $ | 4,488 |  |  | $ | — |  |  | $ | 7,281 |
(1) $0.6 million represents legal expense recorded in CPI during the year ended December 31, 2023. (2) $2.7 million represents divestiture losses. See Note 8 for details.
|  | December 31, 2023 |
|  | BC |  |  | Gyre |  |  | Other |  |  | Consolidated |
Total assets |  | $ | 101,761 |  |  | $ | 13,865 |  |  | $ | 913 |  |  | $ | 116,539 |
|  | Year Ended December 31, 2022 |
|  | BC |  |  | Gyre |  |  | Other |  |  | Consolidated |
Purchase of property and equipment |  | $ | (8,517 | ) |  | $ | — |  |  | $ | — |  |  | $ | (8,517 | )
|  | Year Ended December 31, 2022 |
|  | BC |  |  | Gyre |  |  | Other |  |  | Consolidated |
Revenues |  | $ | 102,290 |  |  | $ | — |  |  | $ | — |  |  | $ | 102,290 |
Cost of revenues |  |  | 4,793 |  |  |  | — |  |  |  | — |  |  |  | 4,793 |
Gross profit |  |  | 97,497 |  |  |  | — |  |  |  | — |  |  |  | 97,497 |
Operating expenses excluding cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing |  |  | 54,238 |  |  |  | — |  |  |  | — |  |  |  | 54,238 |
Research and development |  |  | 16,686 |  |  |  | — |  |  |  | — |  |  |  | 16,686 |
General and administrative |  |  | 17,240 |  |  |  | — |  |  |  | 130 |  | (3) |  | 17,370 |
Total operating expenses excluding cost of revenues |  |  | 88,164 |  |  |  | — |  |  |  | 130 |  |  |  | 88,294 |
(Loss) income from operations |  |  | 9,333 |  |  |  | — |  |  |  | (130 | ) |  |  | 9,203 |
Supplemental Disclosure of stock-based compensation expense |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenues |  | $ | 249 |  |  | $ | — |  |  | $ | — |  |  | $ | 249 |
Selling and marketing |  |  | 1,643 |  |  |  | — |  |  |  | — |  |  |  | 1,643 |
Research and development |  |  | 2,301 |  |  |  | — |  |  |  | — |  |  |  | 2,301 |
General and administrative |  |  | 9,173 |  |  |  | — |  |  |  | — |  |  |  | 9,173 |
Stock-based compensation total |  | $ | 13,366 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,366 |
(3) $0.1 million represents the other subsidiaries, CPI and GNI HK, etc. reported an aggregate $0.1 million general and administrative expense during the year ended December 31, 2022.
|  | December 31, 2022 |
|  | BC |  |  | Gyre |  |  | Other |  |  | Consolidated |
Total assets |  | $ | 79,857 |  |  | $ | — |  |  | $ | 4,896 |  |  | $ | 84,753 |
|  | Year Ended December 31, 2022 |
|  | BC |  |  | Gyre |  |  | Other |  |  | Consolidated |
Purchase of property and equipment |  | $ | (4,985 | ) |  | $ | — |  |  | $ | — |  |  | $ | (4,985 | )

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