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Concentration of credit risk and current expected credit losses | 9 Months Ended
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Sep. 30, 2020
Concentration of credit risk and current expected credit losses |
Concentration of credit risk and current expected credit losses | 5. Concentration of credit risk and current expected credit losses In November 2009, we entered into a collaboration and license agreement with Novartis. In December 2009, we entered into a license, development and commercialization agreement with Lilly. In December 2018, we entered into a research collaboration and licensing agreement with Innovent Biologics, Inc. (“Innovent”). In July 2019, we entered into a collaboration and license agreement with Zai Lab (Shanghai) Co., Ltd., a subsidiary of Zai Lab Limited (collectively, “Zai Lab”). The above collaboration partners comprised, in aggregate, 30% of the accounts receivable balance as of September 30, 2020 and December 31, 2019. For further information relating these collaboration and license agreements, refer to Note 9 to the condensed consolidated financial statements. In November 2011, we began commercialization and distribution of JAKAFI and in April 2020, we began commercialization and distribution of PEMAZYRE to a number of customers. Our product revenues are concentrated in a number of these customers. The concentration of credit risk related to our JAKAFI and PEMAZYRE product revenues is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Percentage of Total Net | ​ | Percentage of Total Net | ​
​ | ​ | Product Revenues for the | ​ | Product Revenues for the | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ |  | 2020 |  | 2019 |  | ​ | 2020 |  | 2019 |  |
Customer A |  | 20 | % | 20 | % |  | 20 | % | 19 | % | ​
Customer B |  | 13 | % | 14 | % |  | 13 | % | 14 | % | ​
Customer C |  | 17 | % | 16 | % |  | 17 | % | 16 | % | ​
Customer D |  | 10 | % | 11 | % |  | 11 | % | 12 | % | ​
​ We are exposed to risks associated with extending credit to customers related to the sale of products. Customers A, B, C and D comprised, in aggregate, 36% and 39% of the accounts receivable balance as of September 30, 2020 and December 31, 2019, respectively. The concentration of credit risk relating to ICLUSIG product revenues or accounts receivable is not significant. We assessed our collaborative and customer receivable assets as of September 30, 2020 according to our accounting policy for applying reserves for expected credit losses, noting minimal history of uncollectible receivables and the continued perceived creditworthiness of our third party sales relationships, upon which the expected credit losses were considered de minimis.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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