Related Party Transactions

6 Months Ended

Jun. 30, 2024

Related Party Transactions

Related Party Transactions

18. Related Party Transactions

As of June 30, 2024, Vifor International owned 7,396,770, or 13.5%, of the Company’s common stock. CSL Vifor and its affiliates are considered related parties as of June 30, 2024 and December 31, 2023 (see Note 12, Collaboration and Licensing Agreements).

As of June 30, 2024 and December 31, 2023, amounts due from CSL Vifor of $359 and $2,765, respectively, primarily relating to royalty payments from CSL Vifor in the current period and the Company’s share of the profit generated by sales of KORSUVA injection in the United States by CSL Vifor, its commercial supply of KORSUVA injection to CSL Vifor, and royalty payments from CSL Vifor in the prior period were included within accounts receivable, net – related party.

The Company’s collaborative revenue of $788 and $8,160 from its share of the profit generated by sales of KORSUVA injection in the United States by CSL Vifor was included within collaborative revenue for the six months ended June 30, 2024 and 2023, respectively. The Company’s collaborative revenue of $5,410 from its share of the profit generated by sales of KORSUVA injection in the United States by CSL Vifor was included within collaborative revenue for the three months ended June 30, 2023. The Company also recorded a liability in accrued professional fees and other within accounts payable and accrued expenses for $1,447 and a corresponding expense in other G&A expense as a result of the negative profit share amount in the second quarter of 2024.

Sales of KORSUVA injection to CSL Vifor of $640 and $4,591 were included within commercial supply revenue for the six months ended June 30, 2024 and 2023, respectively. Sales of KORSUVA injection to CSL Vifor of $1,400 were included within commercial supply revenue for the three months ended June 30, 2023.

The Company recorded $123 and $248 as royalty revenue based on net sales of Kapruvia outside of the United States during the three and six months ended June 30, 2023, respectively. There was no royalty revenue recorded during the three and six months ended June 30, 2024.

The Company recorded $359 and $649 as other revenue from its royalty payments from CSL Vifor for the three and six months ended June 30, 2024, respectively. There was no other revenue recorded for the three and six months ended June 30, 2023.