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Note 12 - Revenue From Product Sales
 6 Months Ended
Jun. 30, 2023
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 six months ended June 30, 2023 and 2022 (in thousands):

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 
  

2023

  

2022

  

2023

  

2022

 

Jelmyto

 $21,139  $16,604  $38,331  $30,168 

 

Net revenue recognized includes gross revenue and 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 and other government sponsored programs, Medicaid drug rebate programs, the Company’s copay assistance program, and Medicare refund for discarded drug, which are estimated based on the Company’s historical experience. Reserves related to items that are contractually able to be net settled are recognized as contra accounts receivable while other remaining reserves are recognized within other current liabilities on the condensed consolidated balance sheets. The following table shows the activity with respect to sales reserves for period ended of June 30, 2023 (in thousands):

 

  

Reserves related to government sponsored programs

  

Other reserves

  

Total accrued sales reserves

 

Balance as of December 31, 2022

 $590  $847  $1,437 

Accruals

  5,392   6,052   11,444 

Utilizations

  (5,182)  (3,756)  (8,938)

Balance as of June 30, 2023

 $800  $3,143  $3,943