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Note 12 - Revenue From Product Sales
 9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

Note 12 – Revenue From Product Sales

 

Net product sales consist of the following for the three and nine months ended September 30, 2022 and 2021 (in thousands):

 

   

Three Months Ended

    

Nine Months Ended

  
   

September 30,

    

September 30,

  
   

2022

    

2021

    

2022

    

2021

  

Jelmyto

   $ 16,097     $ 11,351     $ 46,265     $ 31,868  

 

Net revenue recognized includes management’s estimate of returns, consideration paid to the customer, chargebacks relating to differences between the wholesale acquisition cost and the contracted price offered to the end consumer, chargebacks relating to 340b drug pricing programs, Medicaid drug rebate programs, and the Company’s copay assistance program, which are estimated based on industry benchmarking studies as well as the Company’s historical experience. Reserves related to items that are contractually able to be net settled are recognized as contra accounts receivables. The following table shows the activity with respect to sales reserves for period ended of September 30, 2022 (in thousands):

 

   

Reserves related to government sponsored programs

    

Other reserves

    

Total accrued sales reserves

  

Balance as of December 31, 2021

   $ 373     $ 1,335     $ 1,708  

Accruals

     4,410       4,432       8,842  

Utilizations

     (4,226 )     (3,999 )     (8,225 )

Balance as of September 30, 2022

   $ 557     $ 1,768     $ 2,325