v3.25.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company operates in one business segment focused on identifying, developing and delivering life-changing therapies to people living with rare kidney and metabolic diseases. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”), who is the President and Chief Executive Officer. The CODM uses net loss to monitor budget versus actual results in assessing segment performance and the allocation of resources. The Company’s CODM also utilizes the Company’s long-range plan as a strategic tool to allocate resources according to the Company’s strategic objectives.
The Company sells its products to specialty pharmacies and through direct-to-patient distributors worldwide. Net product sales outside of the United States ("U.S.") were not significant for the three and six months ended June 30, 2025 and 2024. Long-lived assets located outside the U.S. were immaterial as of both June 30, 2025 and December 31, 2024. The measure of segment assets is reported on the Consolidated Balance Sheets as total assets. The accounting policies of the segment are the same as those described in Note 2, Summary of Significant Accounting Policies.
The following table presents reportable segment loss, including significant expenses regularly provided to the CODM, attributable to the Company’s reportable segment for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenue$114,449 $54,116 $196,180 $95,490 
Less:
Cost of goods sold1,521 2,061 6,201 3,565 
Research and development:
External research and development27,461 31,944 49,816 57,856 
Internal personnel costs18,215 17,949 38,317 37,695 
Other research and development
3,686 4,437 8,118 8,199 
Total research and development49,362 54,330 96,251 103,750 
Selling, general and administrative76,216 64,776 149,055 128,999 
In-process research and development— — — 65,205 
Restructuring— 653 — 912 
Total other (expense) income, net(85)(1,863)1,405 1,607 
Income tax provision on continuing operations(20)(85)(59)(276)
Loss from discontinued operations, net of tax— (757)— (860)
Net loss$(12,755)$(70,409)$(53,981)$(206,470)