v3.25.4
Concentrations of Credit Risk and Current Expected Credit Losses
 12 Months Ended
Dec. 31, 2025
Risks and Uncertainties [Abstract]  
Concentrations of Credit Risk and Current Expected Credit Losses
Note 4. 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. These two collaboration partners comprised, in aggregate, 17% and 19% of the accounts receivable balance as of December 31, 2025 and 2024, respectively. For further information relating to these collaboration and license agreements, refer to Note 7.
The concentration of credit risk related to our JAKAFI and OPZELURA product revenues is as follows:
Percentage of Total Net
Product Revenues for the
Years Ended,
December 31,
202520242023
Customer A13 %15 %17 %
Customer B9 %10 %10 %
Customer C21 %19 %18 %
Customer D18 %17 %17 %
Customer E11 %10 %10 %
We are exposed to risks associated with extending credit to customers related to the sale of products. Customers A, B, C, D and E comprised, in the aggregate, 54% and 49% of the accounts receivable balance as of December 31, 2025 and 2024, respectively. The concentration of credit risk relating to our other product revenues or accounts receivable is not significant.
We assessed our collaborative and customer receivable assets as of December 31, 2025 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.