Related Party Transactions |
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| Related Party Transactions | 13. Related Party Transactions
Research and Development with GNI Group
Research and development expenses for the services received from Shanghai Genomics, Inc (“ Shanghai Genomics”), a wholly-owned subsidiary of GNI Group, were $5.1 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively. Research and development expenses for the related services received from Shanghai Genomics were $5.1 million and $0.2 million for the six months ended June 30, 2026 and 2025, respectively. The amounts for the three and six months ended June 30, 2026 included a milestone payment of RMB 33.1 million (approximately $4.9 million, based on the June 30, 2026 spot exchange rate) recognized under the Hydronidone Transfer Agreement upon the submission and acceptance of the Hydronidone NDA by the Center for Drug Evaluation (“CDE”) of the National Medical Products Administration (“NMPA”). As of June 30, 2026, the related payment has been accrued under due to related parties in the condensed consolidated balance sheets. No payments for such services were made to entities controlled by GNI Group during the three and six months ended June 30, 2026 and 2025. As of June 30, 2026 and December 31, 2025, the Company had related parties payables of $5.1 million and $0.2 million due to GNI Group.
Other Receivables from GNI
As of June 30, 2026 and December 31, 2025, the Company had recorded $0.2 million in other receivables from GNI Group, all of which related to Continent Pharmaceuticals Inc.'s (“CPI”) restructuring transaction.
Operating Lease with Shanghai Genomics, Inc.
The related lease expense recognized from related parties included in “Research and development expenses” and “General and administrative expenses” in the condensed consolidated statements of operations and comprehensive (loss) income were as follows:
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