| 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 and six months ended June 30, 2026 and 2025 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
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|
Six Months Ended June 30, |
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|
|
2026 |
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|
2025 |
|
|
2026 |
|
|
2025 |
|
Revenue: |
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|
|
|
|
|
|
|
|
|
|
|
Product revenue, net |
|
$ |
— |
|
|
|
19,655 |
|
|
$ |
— |
|
|
$ |
59,472 |
|
Operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of goods sold |
|
|
— |
|
|
|
4,290 |
|
|
|
— |
|
|
|
9,692 |
|
Research and development |
|
|
— |
|
|
|
542 |
|
|
|
— |
|
|
|
1,301 |
|
Selling, general and administrative |
|
|
— |
|
|
|
6,074 |
|
|
|
— |
|
|
|
13,538 |
|
Total operating costs and expenses |
|
|
— |
|
|
|
10,906 |
|
|
|
— |
|
|
|
24,531 |
|
Income from operations |
|
|
— |
|
|
|
8,749 |
|
|
|
— |
|
|
|
34,941 |
|
Interest and other, net |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
— |
|
|
|
(2,964 |
) |
|
|
— |
|
|
|
(5,915 |
) |
Loss on divestiture |
|
|
— |
|
|
|
— |
|
|
|
(66 |
) |
|
|
— |
|
Interest income and other income (expenses), net |
|
|
— |
|
|
|
(1,367 |
) |
|
|
— |
|
|
|
(2,649 |
) |
Total interest and other, net |
|
|
— |
|
|
|
(4,331 |
) |
|
|
(66 |
) |
|
|
(8,564 |
) |
Income (loss) before income taxes |
|
|
— |
|
|
|
4,418 |
|
|
|
(66 |
) |
|
|
26,377 |
|
Provision for income taxes |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Investment income in unconsolidated variable interest entity |
|
|
— |
|
|
|
1,662 |
|
|
|
— |
|
|
|
1,108 |
|
Income (loss) from discontinued operations, net of tax |
|
$ |
— |
|
|
$ |
6,080 |
|
|
$ |
(66 |
) |
|
$ |
27,485 |
|
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 six months ended June 30, 2025 were as follows (in thousands):
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|
|
|
|
|
Six Months Ended June 30, |
|
|
|
2025 |
|
Depreciation |
|
$ |
530 |
|
Investment income in unconsolidated variable interest entity |
|
|
(1,108 |
) |
Impairment of property and equipment |
|
|
2,062 |
|
Stock-based compensation |
|
$ |
943 |
|
|