XML 19 R8.htm IDEA: XBRL DOCUMENT
v3.26.1

Note 2 - Revenue | 6 Months Ended
--- | ---
Jun. 30, 2026
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | NOTE 2 - REVENUE As discussed in Note 1 - Organization and Summary of Significant Accounting Policies, revenues are recognized under guidance within ASC 606. The following table presents the Company’s disaggregated revenue for the periods presented (in thousands):
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Total product revenue, net |  | $ | 235,794 |  |  | $ | 138,843 |  |  | $ | 437,102 |  |  | $ | 258,498 |
License, milestone, royalty and other revenue |  |  | 4,541 |  |  |  | 2,305 |  |  |  | 8,151 |  |  |  | 3,506 |
Total Revenue |  | $ | 240,335 |  |  | $ | 141,148 |  |  | $ | 445,253 |  |  | $ | 262,004 |
Product Revenue, net For the three and six months ended June 30, 2026, product revenue consists of U.S. sales of BRIUMVI, of $227.7 million and $422.5 million, respectively. Also included in product revenue for the three and six months ended June 30, 2026 are sales of BRIUMVI to the Company’s ex-U.S. licensing partner, Neuraxpharm, of $8.1 million and $14.6 million, respectively. As of June 30, 2026, gross-to-net accruals of approximately $29.2 million and $69.3 million are included on the condensed consolidated balance sheets within accounts receivable, net, and accounts payable and accrued expenses, respectively. As of June 30, 2025, gross-to-net accruals of approximately $16.1 million and $33.3 million are included on the condensed consolidated balance sheets within accounts receivable, net, and accounts payable and accrued expenses, respectively. The Company primarily sells BRIUMVI through specialty distributors. The following table summarizes the customers that represent 10% or more of gross product revenue for the three and six months ended June 30, 2026 and 2025:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Customer 1 |  |  | 40 | % |  |  | 42 | % |  |  | 41 | % |  |  | 41 | %
Customer 2 |  |  | 29 | % |  |  | 25 | % |  |  | 28 | % |  |  | 29 | %
Customer 3 |  |  | 19 | % |  |  | 19 | % |  |  | 19 | % |  |  | 17 | %
Customer 4 |  |  | 12 | % |  |  | 13 | % |  |  | 11 | % |  |  | 12 | %
The following table summarizes the customers with amounts due that represent 10% or more of the accounts receivable associated with the Company’s product sales as of June 30, 2026 and December 31, 2025:
|  | June 30, 2026 |  |  | December 31, 2025 |
Customer 1 |  |  | 36 | % |  |  | 38 | %
Customer 2 |  |  | 23 | % |  |  | 18 | %
Customer 3 |  |  | 28 | % |  |  | 27 | %
Customer 4 |  |  | 12 | % |  |  | 15 | %
License, Milestone, Royalty and Other Revenue License, milestone, royalty and other revenue consist primarily of recognition of consideration received under the ex-U.S. commercialization agreement (the Commercialization Agreement) with Neuraxpharm. Refer to Note 9 - License Agreements for a description of the Commercialization Agreement and for further information of the accounting in accordance with ASC 606.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration