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LICENSE, COLLABORATION AND OTHER REVENUE (Tables)
9 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Revenues Recognized from License, Collaboration and Other Significant Agreements The Company recognized the following revenues from its license, collaboration and other revenue agreements (in thousands):
 Three Months Ended September 30,Nine Months Ended September 30,
License, collaboration and other revenue:2023202220232022
MTPC Collaboration Agreement$487 $5,487 $5,165 $13,885 
Otsuka U.S. Agreement— — 2,225 86,773 
Otsuka International Agreement— — — 5,503 
Total collaboration revenue $487 $5,487 $7,390 $106,161 
JT and Torii Sublicense Agreement1,441 1,238 3,969 3,871 
Medice License Agreement— — 10,000 — 
Total license, collaboration and other revenue$1,928 $6,725 $21,359 $110,032 
Changes in Contract Assets and Liabilities
The following tables present changes in the Company’s contract assets and liabilities (in thousands):
Nine Months Ended September 30, 2023
Balance at
Beginning of
Period
AdditionsDeductionsBalance
at End
of Period
Contract assets:    
Accounts receivable(1)
$1,901 $1,426 $(2,847)$480 
Prepaid expenses and other current assets$781 $— $(781)$— 
Contract liability:
Deferred revenue$47,034 $— $(3,738)$43,296 
Nine Months Ended September 30, 2022
Balance at
Beginning of
Period
AdditionsDeductionsBalance
at End
of Period
Contract assets:
Accounts receivable(1)
$19,094 $92,612 $(109,836)$1,870 
Prepaid expenses and other current assets$4,309 $9,550 $(8,250)$5,609 
Contract liabilities:
Deferred revenue$42,380 $66,307 $(64,126)$44,561 
Accounts payable$3,171 $— $(3,171)$— 
 (1) Excludes accounts receivable related to amounts due to the Company from product sales of Auryxia which are included in the accompanying unaudited condensed consolidated balance sheet as of September 30, 2023 and 2022.
Revenue Recognized Resulting from Changes in Contract Assets and Contract Liabilities
The Company recognized the following revenues as a result of changes in the contract asset and contract liability balances in the respective periods (in thousands): 
Three Months Ended September 30,Nine Months Ended September 30,
Revenue Recognized in the Period:2023202220232022
Deferred revenue — beginning of the period$— $5,047 $— $29,574