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Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

Cash and cash equivalents consisted of the following (in thousands):

		September 30, 2022				December 31, 2021
Cash		$	104,509			$	111,422
Commercial paper			4,981				1,000
Money market funds			46,470				58,801
Total cash and cash equivalents		$	155,960			$	171,223

Summary of Amortized Cost, Gross Unrealized Holding Gains or Losses, and Fair Value of Investments

The Company’s investments consist of available-for-sale debt investments and marketable equity investments. The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s investments by major investments type are summarized in the tables below (in thousands):

		September 30, 2022
		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Estimated Fair Value
Corporate bonds		$	103,539			$	—			$	(1,844	)		$	101,695
Commercial paper			38,589				—				—				38,589
U.S. government bonds			110,559				1				(1,813	)			108,747
Agency bonds			14,210				—				(330	)			13,880
Asset-backed securities			2,479				—				—				2,479
Foreign government bonds			5,020				—				(70	)			4,950
Total investments		$	274,396			$	1			$	(4,057	)		$	270,340
		December 31, 2021
		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Estimated Fair Value
Corporate bonds		$	183,136			$	2			$	(492	)		$	182,646
Commercial paper			68,079				—				—				68,079
U.S. government bonds			91,840				—				(318	)			91,522
Agency bonds			23,339				—				(64	)			23,275
Asset-backed securities			27,105				—				(18	)			27,087
Foreign government bonds			9,165				—				(11	)			9,154
Total investments		$	402,664			$	2			$	(903	)		$	401,763

Summary of Available for Sale Securities in Unrealized Loss Position, Fair Value and Gross Unrealized Loss By Length of Time Security in Continual Unrealized Loss Position

The following table summarizes, for all available for sale securities in an unrealized loss position, the fair value and gross unrealized loss by length of time the security has been in a continual unrealized loss position (in thousands):

		September 30, 2022
		Less than 12 Months								12 Months or More								Total
		Estimated Fair Value				Gross Unrealized Holding Losses				Estimated Fair Value				Gross Unrealized Holding Losses				Estimated Fair Value				Gross Unrealized Holding Losses
Corporate bonds		$	79,274			$	(1,275	)		$	22,421			$	(569	)		$	101,695			$	(1,844	)
U.S. government bonds			81,493				(1,166	)			22,309				(647	)			103,802				(1,813	)
Agency bonds			11,401				(288	)			2,479				(42	)			13,880				(330	)
Asset-backed securities			—				—				—				—				—				—
Foreign government bonds			4,950				(70	)			—				—				4,950				(70	)
Total		$	177,118			$	(2,799	)		$	47,209			$	(1,258	)		$	224,327			$	(4,057	)
		December 31, 2021
		Less than 12 Months								12 Months or More								Total
		Estimated Fair Value				Gross Unrealized Holding Losses				Estimated Fair Value				Gross Unrealized Holding Losses				Estimated Fair Value				Gross Unrealized Holding Losses
Corporate bonds		$	177,124			$	(492	)		$	—			$	—			$	177,124			$	(492	)
U.S. government bonds			91,522				(318	)			—				—				91,522				(318	)
Agency bonds			23,274				(64	)			—				—				23,274				(64	)
Asset-backed securities			27,087				(18	)			—				—				27,087				(18	)
Foreign government bonds			9,155				(11	)			—				—				9,155				(11	)
Total		$	328,162			$	(903	)		$	—			$	—			$	328,162			$	(903	)

Schedule of Inventory

Inventories consisted of the following (in thousands):

		September 30, 2022				December 31, 2021
Raw materials		$	1,231			$	1,363
Work-in-progress			35,205				21,499
Finished goods			3,514				8,153
Total inventories		$	39,950			$	31,015

Schedule of Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following (in thousands):

		September 30, 2022				December 31, 2021
Preclinical and clinical trial accruals		$	71,303			$	56,283
API and bulk drug product price true-up			66,474				—
Acquired in-process research and development asset			—				35,000
Payroll and related accruals			17,782				20,909
Accrued co-promotion expenses - current			31,883				25,746
Contract liabilities to pharmaceutical distributors			733				3,176
Roxadustat profit share to AstraZeneca			7,058				7,895
Property taxes and other taxes			7,685				12,610
Professional services			6,184				6,074
Other			4,704				4,906
Total accrued and other current liabilities		$	213,806			$	172,599

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