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LICENSE, COLLABORATION AND OTHER REVENUE (Tables)
3 Months Ended
Mar. 31, 2024
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 March 31,
EntityDescription20242023
MTPC
License and Product Supply of Vafseo in Japan
$412 $4,162 
JT and Torii License and royalties related to the sale of Riona in Japan1,186 1,137 
Total license and other revenue $1,598 $5,299 
Changes in Contract Assets and Liabilities
The Company had the following deferred revenue balances as of March 31, 2024 (in thousands):
 March 31, 2024
Deferred Revenue:Short-TermLong-TermTotal
MTPC
$695 $— $695 
CSL Vifor Agreement— 43,296 43,296 
Total$695 $43,296 $43,991 
The following tables present changes in the Company’s contract assets and liabilities related to license and other revenue (in thousands):
Three Months Ended March 31, 2024
Balance at
Beginning of
Period
AdditionsDeductionsBalance
at End
of Period
Contract asset:    
Accounts receivable(1)
$3,333 $2,327 $(2,968)$2,692 
Contract liability:
Deferred revenue$43,296 $695 $— $43,991 
Three Months Ended March 31, 2023
Balance at
Beginning of
Period
AdditionsDeductionsBalance
at End
of Period
Contract assets:
Accounts receivable(1)
$1,901 $417 $(1,901)$417 
Prepaid expenses and other current assets$781 $— $(781)$— 
Contract liabilities:
Deferred revenue$47,034 $— $(3,738)$43,296 
 (1) Excludes accounts receivable related to amounts due to the Company from product sales of Auryxia which are included in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2024 and 2023.
Revenue Recognized Resulting from Changes in Contract Assets and Contract Liabilities
The Company recognized the following revenues as a result of changes in the contract asset and contract liability balances in the respective periods (in thousands): 
Three Months Ended March 31,
Revenue Recognized in the Period:20242023
Deferred revenue — beginning of the period$— $3,738