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Balance Sheet Components (Tables) | 9 Months Ended
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Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Cash and Cash Equivalents | Cash and cash equivalents consisted of the following (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Cash |  | $ | 1,754 |  |  | $ | 2,004 |
Commercial paper |  |  | 59,578 |  |  |  | 14,269 |
Money market funds |  |  | 34,207 |  |  |  | 28,241 |
U.S. government bonds |  |  | 22,436 |  |  |  | 5,968 |
Total cash and cash equivalents |  | $ | 117,975 |  |  | $ | 50,482 |
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 table below (in thousands):
|  | September 30, 2025 |
|  | Amortized Cost |  |  | Gross Unrealized Holding Gains |  |  | Gross Unrealized Holding Losses |  |  | Estimated Fair Value |
Corporate bonds |  | $ | 3,034 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 3,035 |
Total investments |  | $ | 3,034 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 3,035 |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consisted of the following (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Insurance proceeds receivable for litigation settlement |  | $ | — |  |  | $ | 28,500 |
Holdback consideration receivable related to divestiture |  |  | 10,000 |  |  |  | — |
Prepaid assets |  |  | 768 |  |  |  | 1,903 |
Other current assets |  |  | 695 |  |  |  | 1,139 |
Total prepaid expenses and other current assets |  | $ | 11,463 |  |  | $ | 31,542 |
As of September 30, 2025, the Company recorded a $10.0 million receivable in prepaid expenses and other current assets for the holdbacks related to the closing of the divestiture of FibroGen International. See Note 2, Discontinued Operations and Divestiture, for details.
Schedule of Accrued and Other Current Liabilities | Accrued and other current liabilities consisted of the following (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Preclinical and clinical trial accruals |  | $ | 3,312 |  |  | $ | 6,327 |
API and bulk drug product price true-up |  |  | 12,398 |  |  |  | 13,071 |
Litigation settlement |  |  | — |  |  |  | 28,500 |
Payroll and related accruals |  |  | 3,060 |  |  |  | 4,640 |
Accrued restructuring charge |  |  | 802 |  |  |  | 4,572 |
Professional services |  |  | 2,527 |  |  |  | 2,049 |
Current portion of liability related to sale of future revenues |  |  | 1,569 |  |  |  | 460 |
Other |  |  | 2,108 |  |  |  | 2,416 |
Total accrued and other current liabilities |  | $ | 25,776 |  |  | $ | 62,035 |

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- Definition Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. + References No definition available. + Details
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