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Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2023

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,
		2023				2022
Cash		$	63,396			$	135,819
Commercial paper			36,016				—
Money market funds			12,288				19,881
U.S. government bonds			1,988				—
Total cash and cash equivalents		$	113,688			$	155,700

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, 2023
		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Estimated Fair Value
Corporate bonds		$	13,988			$	9			$	(5	)		$	13,992
Commercial paper			52,273				—				—				52,273
U.S. government bonds			45,783				20				—				45,803
Agency bonds			9,830				1				(1	)			9,830
Total investments		$	121,874			$	30			$	(6	)		$	121,898
		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

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, 2023
		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		$	—			$	—			$	3,495			$	(5	)		$	3,495			$	(5	)
U.S. government bonds			4,984				—				—				—				4,984				—
Agency bonds			4,987				(1	)			—				—				4,987				(1	)
Total		$	9,971			$	(1	)		$	3,495			$	(5	)		$	13,466			$	(6	)
		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	)

Schedule of Inventory

Inventories consisted of the following (in thousands):

		December 31,
		2023				2022
Raw materials		$	1,376			$	1,241
Work-in-progress			34,614				36,003
Finished goods			5,575				3,192
Total inventories		$	41,565			$	40,436

Schedule of Prepaid Expenses and Other Current Assets

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

		December 31,
		2023				2022
Contract assets		$	26,481			$	17,488
Deferred revenues from associated contracts			(26,481	)			(17,488	)
Net contract assets			—				—
Insurance proceeds receivable for litigation settlement			28,500
Prepaid assets			6,644				9,730
Other current assets			6,711				4,353
Total prepaid expenses and other current assets		$	41,855			$	14,083

Schedule of Property and Equipment

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

		December 31,
		2023				2022
Leasehold improvements		$	102,109			$	102,580
Laboratory equipment			22,757				21,175
Machinery			9,454				9,642
Computer equipment			9,490				9,486
Furniture and fixtures			6,184				6,200
Construction in progress			62				204
Total property and equipment		$	150,056			$	149,287
Less: accumulated depreciation			(136,930	)			(128,682	)
Property and equipment, net		$	13,126			$	20,605

Schedule of Accrued and Other Current Liabilities

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

		December 31,
		2023				2022
Preclinical and clinical trial accruals		$	27,663			$	57,780
API and bulk drug product price true-up			50,978				75,055
Litigation settlement			28,500				—
Payroll and related accruals			20,267				22,562
Accrued co-promotion expenses - current			10,309				36,677
Roxadustat profit share to AstraZeneca			7,084				7,280
Property taxes and other taxes			6,615				7,691
Professional services			7,103				5,480
Current portion of liability related to sale of future revenues			5,654				—
Accrued restructuring charge			3,697				—
Other			5,021				7,248
Total accrued and other current liabilities		$	172,891			$	219,773

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