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Segment and Geographic Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment and Geographic Information

17. Segment and Geographic Information

The Company has determined that the chief executive officer is the chief operating decision maker (“CODM”). The CODM reviews financial information presented for the Company’s various clinical trial programs as well as results on a consolidated basis. License revenues and development revenues received are not allocated to various programs for purposes of determining a profit measure and resource allocation decisions are made by the CODM based primarily on consolidated results. As such, the Company has concluded that it operates as one segment. Supplemental enterprise-wide information has been presented below.

Geographic Revenues

Geographic revenues, which are based on the region that revenue is generated, are as follows (in thousands):

 

 

 

Years Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

China

 

$

109,375

 

 

$

84,631

 

 

$

55,640

 

Europe

 

 

9,549

 

 

 

33,820

 

 

 

131,243

 

Japan

 

 

15,867

 

 

 

9,764

 

 

 

2,305

 

United States

 

 

12,961

 

 

 

12,519

 

 

 

46,121

 

Total revenue

 

$

147,752

 

 

$

140,734

 

 

$

235,309

 

 

Geographic Assets

Property and equipment, net by geographic location are as follows (in thousands):

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

United States

 

$

4,785

 

 

$

10,094

 

China

 

 

8,341

 

 

 

10,511

 

Total property and equipment

 

$

13,126

 

 

$

20,605

 

Finance lease right-of-use assets and operating lease right-of-use assets, net by geographic location are as follows (in thousands):

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

United States

 

$

132

 

 

$

424

 

China

 

 

21

 

 

 

11

 

Total finance lease right-of-use assets

 

$

153

 

 

$

435

 

 

 

 

 

 

 

 

United States

 

$

64,939

 

 

$

76,273

 

China

 

 

3,154

 

 

 

3,620

 

Total operating lease right-of-use assets

 

$

68,093

 

 

$

79,893

 

Customer Concentration

The Company’s revenues to date have been generated from the following collaboration partners and distribution entity that individually accounted for 10% or more of the Company’s total revenue or accounts receivable:

 

 

 

Percentage of Revenue

 

 

Percentage of Accounts Receivable

 

 

 

Years Ended December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

 

2023

 

 

2022

 

Falikang — Related party

 

 

60

%

 

 

51

%

 

 

15

%

 

 

42

%

 

 

65

%

Astellas — Related party

 

 

17

%

 

 

31

%

 

 

57

%

 

 

7

%

 

 

9

%

AstraZeneca

 

 

8

%

 

 

9

%

 

 

20

%

 

 

33

%

 

 

16

%

 

Substantially all direct product sales to distributors in China were made by Falikang. No individual distributor represented over 10% of the total revenue for the years ended December 31, 2023 and 2022. The aggregate accounts receivable from direct sales to distributors as of December 31, 2023 and 2022 were immaterial.