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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Segment information for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands):
|  | Three Months Ended September 30, 2024 |
|  | Gyre Pharmaceuticals |  |  | Gyre |  |  | Other |  |  | Consolidated |
Revenues |  | $ | 25,488 |  |  | $ | — |  |  | $ | — |  |  | $ | 25,488 |
Cost of revenues |  |  | 958 |  |  |  | — |  |  |  | — |  |  |  | 958 |
Gross profit |  |  | 24,530 |  |  |  | — |  |  |  | — |  |  |  | 24,530 |
Operating expenses excluding cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing |  |  | 13,699 |  |  |  | — |  |  |  | — |  |  |  | 13,699 |
Research and development |  |  | 2,553 |  |  |  | 222 |  |  |  | — |  |  |  | 2,775 |
General and administrative |  |  | 2,225 |  |  |  | 1,593 |  |  |  | 5 |  |  |  | 3,823 |
Total operating expenses excluding cost of revenues |  |  | 18,477 |  |  |  | 1,815 |  |  |  | 5 |  |  |  | 20,297 |
Income (loss) from operations |  | $ | 6,053 |  |  | $ | (1,815 | ) |  | $ | (5 | ) |  | $ | 4,233 |
Supplemental disclosure of stock-based compensation expense: |  |  |  |  |  |  |  |  |  |  |  |
General and administrative |  | $ | — |  |  | $ | 237 |  |  | $ | — |  |  | $ | 237 |
Stock-based compensation total |  | $ | — |  |  | $ | 237 |  |  | $ | — |  |  | $ | 237 |
|  | Nine Months Ended September 30, 2024 |
|  | Gyre Pharmaceuticals |  |  | Gyre |  |  | Other |  |  | Consolidated |
Revenues |  | $ | 77,885 |  |  | $ | — |  |  | $ | — |  |  | $ | 77,885 |
Cost of revenues |  |  | 2,707 |  |  |  | — |  |  |  | — |  |  |  | 2,707 |
Gross profit |  |  | 75,178 |  |  |  | — |  |  |  | — |  |  |  | 75,178 |
Operating expenses excluding cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing |  |  | 40,655 |  |  |  | — |  |  |  | — |  |  |  | 40,655 |
Research and development |  |  | 7,639 |  |  |  | 673 |  |  |  | — |  |  |  | 8,312 |
General and administrative |  |  | 7,031 |  |  |  | 3,608 |  |  |  | 6 |  |  |  | 10,645 |
Total operating expenses excluding cost of revenues |  |  | 55,325 |  |  |  | 4,281 |  |  |  | 6 |  |  |  | 59,612 |
Income (loss) from operations |  | $ | 19,853 |  |  | $ | (4,281 | ) |  | $ | (6 | ) |  | $ | 15,566 |
Supplemental disclosure of stock-based compensation expense: |  |  |  |  |  |  |  |  |  |  |  |
General and administrative |  | $ | — |  |  | $ | 264 |  |  | $ | — |  |  | $ | 264 |
Stock-based compensation total |  | $ | — |  |  | $ | 264 |  |  | $ | — |  |  | $ | 264 |
|  | Three Months Ended September 30, 2023 |
|  | Gyre Pharmaceuticals |  |  | Gyre |  |  | Other |  |  | Consolidated |
Revenues |  | $ | 32,042 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,042 |
Cost of revenues |  |  | 1,184 |  |  |  | — |  |  |  | — |  |  |  | 1,184 |
Gross profit |  |  | 30,858 |  |  |  | — |  |  |  | — |  |  |  | 30,858 |
Operating expenses excluding cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing |  |  | 13,928 |  |  |  | — |  |  |  | — |  |  |  | 13,928 |
Research and development |  |  | 3,009 |  |  |  | — |  |  |  | — |  |  |  | 3,009 |
General and administrative |  |  | 1,159 |  |  |  | — |  |  |  | (2 | ) |  |  | 1,157 |
Total operating expenses excluding cost of revenues |  |  | 18,096 |  |  |  | — |  |  |  | (2 | ) |  |  | 18,094 |
Income from operations |  | $ | 12,762 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 12,764 |
Supplemental disclosure of stock-based compensation expense: |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  | Nine Months Ended September 30, 2023 |
|  | Gyre Pharmaceuticals |  |  | Gyre |  |  | Other |  |  | Consolidated |
Revenues |  | $ | 86,302 |  |  | $ | — |  |  | $ | — |  |  | $ | 86,302 |
Cost of revenues |  |  | 3,386 |  |  |  | — |  |  |  | — |  |  |  | 3,386 |
Gross profit |  |  | 82,916 |  |  |  | — |  |  |  | — |  |  |  | 82,916 |
Operating expenses excluding cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing |  |  | 44,695 |  |  |  | — |  |  |  | — |  |  |  | 44,695 |
Research and development |  |  | 9,212 |  |  |  | — |  |  |  | — |  |  |  | 9,212 |
General and administrative |  |  | 4,055 |  |  |  | — |  |  |  | 552 |  |  |  | 4,607 |
Total operating expenses excluding cost of revenues |  |  | 57,962 |  |  |  | — |  |  |  | 552 |  |  |  | 58,514 |
Income (loss) from operations |  | $ | 24,954 |  |  | $ | — |  |  | $ | (552 | ) |  | $ | 24,402 |
Supplemental disclosure of stock-based compensation expense: |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
The table below presents total assets as of September 30, 2024 and December 31, 2023.
|  | September 30, 2024 |
|  | Gyre Pharmaceuticals |  |  | Gyre |  |  | Other |  |  | Consolidated |
Total assets |  | $ | 113,682 |  |  | $ | 10,646 |  |  | $ | 912 |  |  | $ | 125,240 |
|  | December 31, 2023 |
|  | Gyre Pharmaceuticals |  |  | Gyre |  |  | Other |  |  | Consolidated |
Total assets |  | $ | 101,761 |  |  | $ | 13,865 |  |  | $ | 913 |  |  | $ | 116,539 |
The table below only includes cash outflows for the purchase of property and equipment and excludes non-cash activities.
|  | Nine Months Ended September 30, 2024 |
|  | Gyre Pharmaceuticals |  |  | Gyre |  |  | Other |  |  | Consolidated |
Purchase of property and equipment |  | $ | 2,366 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 2,380 |
|  | Nine Months Ended September 30, 2023 |
|  | Gyre Pharmaceuticals |  |  | Gyre |  |  | Other |  |  | Consolidated |
Purchase of property and equipment |  | $ | 6,193 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,193 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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