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Related Party Transactions | 12 Months Ended
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Dec. 31, 2020
Related Party Transactions [Abstract] |
Related Party Transactions |
14. | Related Party Transactions
Astellas is an equity investor in the Company and considered a related party. During the years ended December 31, 2020, 2019 and 2018, the Company recorded license and development revenue related to collaboration agreements with Astellas of $33.5 million, $158.8 million, and $35.2 million, respectively. During the years ended December 31, 2020, 2019 and 2018, the Company also recorded drug product revenue from Astellas of $4.3 million, $(36.3) million, and $64.8 million, respectively. The drug product revenue from Astellas for the year ended December 31, 2020 included $8.2 million under the Japan Agreement, and a $4.0 million reduction to revenue as a change in estimated variable consideration at the time an updated listed price for roxadustat was issued by the Japanese Ministry of Health, Labour and Welfare related to roxadustat API sales in 2018. The drug product revenue from Astellas for the year ended December 31, 2019 included a change in estimated variable consideration that resulted in a $36.3 million reduction to revenue related to the product revenue of $64.8 million for API recorded in 2018. See Note 4, Collaboration Agreements and Revenues, for details. During the years ended December 31, 2020, 2019 and 2018, the Company recorded expense related to collaboration agreements with Astellas of $0.5 million, $2.8 million and $1.5 million, respectively. As of December 31, 2020 and 2019, accounts receivable from Astellas were $4.1 million and $4.8 million, respectively. As of December 31, 2020 and 2019, total deferred revenue from Astellas were $7.5 million and $0.4 million, respectively. As of December 31, 2019, prepaid expenses and other current assets from Astellas was $125.2 million of net unbilled contract assets, representing a $130.0 million unbilled contract asset related to two regulatory milestones under the Europe Agreement with Astellas associated with the planned MAA submission to the EMA, net of $4.8 million of associated deferred revenue. According to the Europe Agreement, this $130.0 million is not billable to Astellas until the submission of an MAA, therefore the net contract asset was included in the prepaid expenses and other current assets line on the Company’s consolidated balance sheet as of December 31, 2019. The $130.0 million was billed to Astellas upon the submission of an MAA in the second quarter of 2020. There was no such contract asset balance as of December 31, 2020. See Note 4, Collaboration Agreements and Revenues, for details. As of December 31, 2020 and 2019, amounts due to Astellas were $1.1 million and $36.9 million, respectively. The amounts due are included in accrued liabilities and accounts payable on the consolidated balance sheets. The amount as of December 31, 2019 included the above-mentioned $36.3 million of a change in estimated variable consideration related to the API product revenue recognized in 2018, which was fully paid during the first quarter of 2020. In September 2020, FibroGen Beijing and AstraZeneca completed the establishment of a jointly owned entity, Falikang, which was determined to be an unconsolidated VIE. As such, Falikang is accounted for as an equity method investment, and considered as a related party to the Company. The Company’s total investments in Falikang was approximately $2.8 million, which is the total of the 51.1% of Falikang’s equity and the acquisition costs. In addition, the Company recognized its proportionate share of the reported profits or losses of Falikang, b eginning September 15, 2020, as other income (loss) in the consolidated statement of operations, and as an adjustment to its investment in unconsolidated subsidiary in the condensed consolidated balance sheet. Falikang has not incurred material profit or loss to date. As of December 31, 2020, the Company’s equity method investment in Falikang was $2.7 million, and prepaid expenses and other current assets included its miscellaneous receivables of $0.9 million from Falikang. See Note 3, Acquisition and Variable Interest Entity, for details.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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