XML 24 R6.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating Activities    
Net (loss) income from operations $ (85,480) $ 4,314
Adjustments to reconcile net (loss) income to net cash used for operating activities:    
Acquired in-process research and development 83,104  
Stock-based compensation 7,281 13,366
Depreciation and amortization 1,074 1,087
Noncash Lease Expense 355 404
Amortization of land use rights 40 42
Deferred income taxes, net (1,160) (838)
Bad debt expense and other non-cash items (61) 22
Accrued interest on long-term certificates of deposit (633) (178)
Change in fair value of long-term receivable (39)  
Change in fair value of derivative liabilities 39  
Change in fair value of warrant liability 9,261  
Equity loss of unconsolidated affiliates 1,314 251
Divestiture losses 2,711  
Loss on disposal of property and equipment 628 4
Changes in operating assets and liabilities:    
Accounts and note receivables 1,398 (7,920)
Other receivables from GNI (96)  
Inventories 1,747 (879)
Prepaid and other assets (82) 973
Income tax payable 3,003 (1,344)
Accounts payable 192 (112)
Other noncurrent liabilities (102)  
Due to related parties 425  
Accrued expenses and other liabilities 1,446 1,914
Operating lease liabilities (473) (429)
Net cash provided by operating activities 25,892 10,677
Investing Activities    
Acquisition of intangible assets (69) (13)
Purchase of certificates of deposit (15,735) (7,484)
Purchases of property and equipment (8,517) (4,985)
Proceeds from sale of equipment 664  
Purchase of equity method investment (1,000) (1,332)
Cash and cash equivalents acquired in connection with the GNI USA Contributions 5,587  
Payments made for acquisition costs (124)  
Cash balance in a disposed subsidiary (566)  
Net cash used in investing activities (19,760) (13,814)
Financing Activities    
Proceeds from issuance of Convertible Preferred Stock and Preferred Stock Warrants under the Private Placement 2,500  
Net cash provided by financing activities 2,500  
Effect of exchange rate changes on cash and cash equivalents (298) (1,891)
Net increase (decrease) in cash and cash equivalents 8,334 (5,028)
Cash and cash equivalents at beginning of the period 25,175 30,203
Cash and cash equivalents at end of period 33,509 25,175
Supplemental Disclosure of Non-Cash Financing and Investing Activities:    
Deemed issuance of common stock and Convertible Preferred Stock to former stockholders of Catalyst upon the GNI USA Contributions 84,348  
Advance payment for Convertible Preferred Stock and Preferred Stock Warrants acquired upon the GNI USA Contributions 2,500  
Disposal consideration in other receivables from GNI 768  
Acquisition costs in due to related parties 535  
Right-of-use asset obtained in exchange for operating lease liabilities 277 57
Proceeds from the exercise of stock options included in other receivable 166  
Purchase of property and equipment included in accounts payable   727
Supplemental disclosure of cash flow information    
Cash paid for income taxes $ 6,346 $ 6,306