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Discontinued Operations (Tables)

3 Months Ended

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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- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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