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Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Segment information for the years ended December 31, 2024 and 2023 is as follows (in thousands):

		Year Ended December 31, 2024
		Gyre Pharmaceuticals				Gyre				Other				Consolidated
Revenues		$	105,757			$	—			$	—			$	105,757
Cost of revenues			3,884				—				—				3,884
Gross profit			101,873				—				—				101,873
Operating expenses excluding cost of revenues:
Selling and marketing			57,511				—				—				57,511
Research and development			11,224				800				—				12,024
General and administrative			11,051				5,056				2				16,109
Loss on disposal of property and equipment			66				—				—				66
Total operating expenses excluding cost of revenues			79,852				5,856				2				85,710
Income (Loss) from operations			22,021				(5,856	)			(2	)			16,163
Interest income, net			1,321				232				(6	)			1,547
Other expense, net			(1,329	)			(336	)			6				(1,659	)
Change in fair value of warrant liability			—				7,167				—				7,167
Income tax expense			(5,318	)			(2	)			—				(5,320	)
Net income (loss)		$	16,695			$	1,205			$	(2	)		$	17,898
Supplemental Disclosure of stock-based compensation expense
Cost of revenues		$	—			$	—			$	—			$	—
Selling and marketing			—				—				—				—
Research and development			—				—				—				—
General and administrative			—				831				—				831
Stock-based compensation total		$	—			$	831			$	—			$	831

		Year Ended December 31, 2023
		Gyre Pharmaceuticals				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	)
Interest income, net			1,044				—				—				1,044
Other expense, net			(1,246	)			(272	)			—				(1,518	)
Change in fair value of warrant liability			—				(9,261	)			—				(9,261	)
Income tax expense			(8,509	)			(6	)			—				(8,515	)
Net income (loss)		$	15,746			$	(97,939	)		$	(3,287	)		$	(85,480	)
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.

The table below presents total assets as of December 31, 2024 and 2023.

		December 31, 2024
		Gyre Pharmaceuticals				Gyre				Other				Consolidated
Total assets		$	114,248			$	10,790			$	368			$	125,406

		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.

		Year Ended December 31, 2024
		Gyre Pharmaceuticals				Gyre				Other				Consolidated
Purchase of property and equipment		$	(2,301	)		$	(14	)		$	—			$	(2,315	)

		Year Ended December 31, 2023
		Gyre Pharmaceuticals				Gyre				Other				Consolidated
Purchase of property and equipment		$	(8,517	)		$	—			$	—			$	(8,517	)

X

- 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

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No definition available.

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