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Related Party Transactions
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Related Party Transactions

10. Related Party Transactions

Astellas is an equity investor in the Company and is considered a related party. The Company recorded license and development revenue related to collaboration agreements with Astellas of $0.4 million and $2.4 million for the three months ended September 30, 2024 and 2023, and $1.0 million and $5.8 million for the nine months ended September 30, 2024 and 2023, respectively. In addition, the Company recorded drug product revenue from Astellas of $(0.3) million and $1.3 million for the three months ended September 30, 2024 and 2023, and $(0.7) million and $17.7 million for the nine months ended September 30, 2024 and 2023, respectively. See Note 2, Collaboration Agreements, License Agreement and Revenues, for details.

The Company’s expense related to collaboration agreements with Astellas was immaterial for each of the three and nine months ended September 30, 2024 and 2023.

As of September 30, 2024 and December 31, 2023, accounts receivable from Astellas were $0.2 million and $0.8 million, respectively.

As of September 30, 2024 and December 31, 2023, total deferred revenue from Astellas was $8.1 million and $16.9 million, respectively.

As of September 30, 2024, the amounts due to Astellas, included in accrued and other current liabilities, and other long-term liabilities, totaled $13.2 million. As of December 31, 2023, the amount due to Astellas, included in accrued and other current liabilities, and other long-term liabilities, totaled $40.5 million.

Falikang, an entity jointly owned by FibroGen Beijing and AstraZeneca, is an unconsolidated VIE accounted for as an equity method investment, and considered as a related party to the Company. FibroGen Beijing owns 51.1% of Falikang’s equity. See the Equity method investment - Unconsolidated VIE - Falikang section of Note 4, Variable Interest Entities, for details.

The net product revenue from Falikang was $42.2 million and $26.5 million for the three months ended September 30, 2024 and 2023, and $115.3 million and $68.3 million for the nine months ended September 30, 2024 and 2023, respectively. See the Product Revenue, Net section in Note 2, Collaboration Agreements, License Agreement and Revenues, for details.

The investment income in Falikang was $0.9 million and $0.7 million for the three months ended September 30, 2024 and 2023 and $2.7 million and $2.0 million for the nine months ended September 30, 2024 and 2023, respectively. During the three months ended September 30, 2024, the Company received $2.2 million of dividend distribution from Falikang. As of September 30, 2024 and December 31, 2023, the Company’s equity method investment in Falikang was $5.8 million and $5.3 million, respectively. See the Equity method investment - Unconsolidated VIE - Falikang section of Note 4, Variable Interest Entities, for details. The other income from Falikang was immaterial for each of the three and nine months ended September 30, 2024 and 2023.

As of September 30, 2024 and December 31, 2023, accounts receivable, net, from Falikang, were $15.3 million and $5.2 million, respectively.