VIE Structure and Arrangements	9 Months Ended
Sep. 30, 2020
VIE Structure and Arrangements
VIE Structure and Arrangements	Note 5. VIE Structure and Arrangements Prior to December 31, 2019, the Company consolidated certain VIEs located in the People’s Republic of China (“PRC”) in which it held variable interests and was the primary beneficiary through contractual agreements. The Company was the primary beneficiary because it had the power to direct activities that most significantly affected their economic performance and had the obligation to absorb or right to receive the majority of their losses or benefits. The results of operations of these VIEs are included in the consolidated financial statements for the year ended December 31, 2019. A shareholder in one of the VIEs is the spouse of Dr. Wu. The contractual agreements, which collectively granted the Company the power to direct the VIEs activities that most significantly affected their economic performance, as well to cause the Company to have the obligation to absorb or right to receive the majority of their losses or benefits, were terminated by all parties on December 31, 2019. As a result, the Company deconsolidated the VIEs as of December 31, 2019. Refer to Note 10 for information on an additional VIE.

VIE Structure and Arrangements

9 Months Ended

Sep. 30, 2020

Note 5. VIE Structure and Arrangements

Prior to December 31, 2019, the Company consolidated certain VIEs located in the People’s Republic of China (“PRC”) in which it held variable interests and was the primary beneficiary through contractual agreements. The Company was the primary beneficiary because it had the power to direct activities that most significantly affected their economic performance and had the obligation to absorb or right to receive the majority of their losses or benefits. The results of operations of these VIEs are included in the consolidated financial statements for the year ended December 31, 2019. A shareholder in one of the VIEs is the spouse of Dr. Wu.

The contractual agreements, which collectively granted the Company the power to direct the VIEs activities that most significantly affected their economic performance, as well to cause the Company to have the obligation to absorb or right

to receive the majority of their losses or benefits, were terminated by all parties on December 31, 2019. As a result, the Company deconsolidated the VIEs as of December 31, 2019.

Refer to Note 10 for information on an additional VIE.