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Discontinued Operations (Tables) | 3 Months Ended
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Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Financial Results, Carrying Value of Assets and Liabilities and Significant Non-Cash Items and Capital Expenditures of Discontinued Operations | The financial results of the discontinued operations with respect to FibroGen International reflected in the condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024 were as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Revenue: |  |  |  |  |  |
Product revenue, net |  | $ | 39,818 |  |  |  | 30,538 |
Operating costs and expenses: |  |  |  |  |  |
Cost of goods sold |  |  | 5,403 |  |  |  | 4,410 |
Research and development |  |  | 759 |  |  |  | 1,903 |
Selling, general and administrative |  |  | 7,464 |  |  |  | 6,106 |
Total operating costs and expenses |  |  | 13,626 |  |  |  | 12,419 |
Income from operations |  |  | 26,192 |  |  |  | 18,119 |
Interest and other, net |  |  |  |  |  |
Interest expense |  |  | (2,951 | ) |  |  | (2,904 | )
Interest income and other income (expenses), net |  |  | (1,282 | ) |  |  | 335 |
Total interest and other, net |  |  | (4,233 | ) |  |  | (2,569 | )
Income before income taxes |  |  | 21,959 |  |  |  | 15,550 |
Provision for income taxes |  |  | — |  |  |  | 26 |
Investment income (loss) in unconsolidated variable interest entity |  |  | (554 | ) |  |  | 589 |
Income from discontinued operations, net of tax |  | $ | 21,405 |  |  | $ | 16,113 |
The carrying value of the assets and liabilities of the discontinued operations with respect to FibroGen International on the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024 were as follows (in thousands):
|  | March 31, 2025 |  |  | December 31, 2024 |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 72,591 |  |  | $ | 51,696 |
Accounts receivable, net |  |  | 22,037 |  |  |  | 18,443 |
Inventories |  |  | 12,771 |  |  |  | 15,547 |
Prepaid expenses and other current assets |  |  | 893 |  |  |  | 25,163 |
Total current assets held for sale |  |  | 108,292 |  |  |  | 110,849 |
Property and equipment, net |  |  | 6,806 |  |  |  | 7,041 |
Equity method investment in unconsolidated variable interest entity |  |  | 6,351 |  |  |  | 6,864 |
Operating lease right-of-use assets |  |  | 1,419 |  |  |  | 1,716 |
Other assets |  |  | 987 |  |  |  | 990 |
Total long-term assets held for sale |  |  | 15,563 |  |  |  | 16,611 |
Liabilities |  |  |  |  |  |
Accounts payable |  | $ | 93 |  |  | $ | 26,974 |
Accrued and other current liabilities |  |  | 7,131 |  |  |  | 10,679 |
Operating lease liabilities, current |  |  | 1,051 |  |  |  | 1,264 |
Total current liabilities held for sale |  |  | 8,275 |  |  |  | 38,917 |
Operating lease liabilities, non-current |  |  | 189 |  |  |  | 356 |
Total long-term liabilities held for sale |  |  | 189 |  |  |  | 356 |
The significant non-cash items and capital expenditures for the discontinued operations with respect to FibroGen International included in the condensed consolidated statements of cash flows for the three months ended March 31, 2025 and 2024 were as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Depreciation |  | $ | 318 |  |  | $ | 381 |
Investment loss (income) in unconsolidated variable interest entity |  |  | 554 |  |  |  | (589 | )
Stock-based compensation |  | $ | 344 |  |  | $ | 442 |

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