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Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 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):

		December 31,
		2022				2021
Cash		$	135,819			$	111,422
Commercial paper			—				1,000
Money market funds			19,881				58,801
Total cash and cash equivalents		$	155,700			$	171,223

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

The Company’s investments consist primarily of available-for-sale debt 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):

		December 31, 2022
		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Estimated Fair Value
Corporate bonds		$	83,080			$	—			$	(1,072	)		$	82,008
Commercial paper			57,381				—				—				57,381
U.S. government bonds			112,547				5				(1,207	)			111,345
Agency bonds			11,690				—				(222	)			11,468
Asset-backed securities			2,484				—				(10	)			2,474
Foreign government bonds			5,007				—				(27	)			4,980
Convertible promissory note			1,000				—				—				1,000
Total investments		$	273,189			$	5			$	(2,538	)		$	270,656
		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):

		December 31, 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		$	6,738			$	(147	)		$	75,270			$	(925	)		$	82,008			$	(1,072	)
U.S. government bonds			22,326				(13	)			67,909				(1,194	)			90,235				(1,207	)
Agency bonds			—				—				11,468				(222	)			11,468				(222	)
Asset-backed securities			2,474				(10	)			—				—				2,474				(10	)
Foreign government bonds			—				—				4,980				(27	)			4,980				(27	)
Total		$	31,538			$	(170	)		$	159,627			$	(2,368	)		$	191,165			$	(2,538	)
		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	)

Summary of Contractual Maturities of Available-for-Sale Investments

The contractual maturities of the available-for-sale investments were as follows (in thousands):

		December 31, 2022
		Amortized Cost				Estimated Fair Value
Within one year - Bond and mutual funds		$	268,709			$	266,308
After one year through three years			4,480				4,348
Total investments		$	273,189			$	270,656

Schedule of Inventory

Inventories consisted of the following (in thousands):

		December 31,
		2022				2021
Raw materials		$	1,241			$	1,363
Work-in-progress			36,003				21,499
Finished goods			3,192				8,153
Total inventories		$	40,436			$	31,015

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):

		December 31,
		2022				2021
Contract assets		$	17,488			$	66,909
Deferred revenues from associated contracts			(17,488	)			(58,909	)
Net unbilled contract assets			—				8,000
Prepaid assets			9,730				7,383
Other current assets			4,353				5,070
Total prepaid expenses and other current assets		$	14,083			$	20,453

Schedule of Property and Equipment

Property and equipment consisted of the following (in thousands):

		December 31,
		2022				2021
Leasehold improvements		$	102,580			$	103,352
Laboratory equipment			21,175				19,300
Machinery			9,642				8,339
Computer equipment			9,486				9,670
Furniture and fixtures			6,200				6,201
Construction in progress			204				2,423
Total property and equipment		$	149,287			$	149,285
Less: accumulated depreciation			(128,682	)			(121,008	)
Property and equipment, net		$	20,605			$	28,277

Schedule of Accrued and Other Current Liabilities

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

		December 31,
		2022				2021
Preclinical and clinical trial accruals		$	57,780			$	56,283
API and bulk drug product price true-up			75,055				—
Acquired in-process research and development asset			—				35,000
Payroll and related accruals			22,562				20,909
Accrued co-promotion expenses - current			36,677				25,746
Contract liabilities to pharmaceutical distributors			390				3,176
Roxadustat profit share to AstraZeneca			7,280				7,895
Property taxes and other taxes			7,691				12,610
Professional services			5,480				6,074
Other			6,858				4,906
Total accrued and other current liabilities		$	219,773			$	172,599

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Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

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