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REVENUE RECOGNITON
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITON

2. REVENUE RECOGNITON

Net Product Revenue

To date, our only source of product revenue has been from the U.S. sales of RYTELO, which we began shipping to our customers in June 2024. The reconciliation of gross product sales to net product sales by each significant category of gross-to-net adjustments was as follows for the three and nine months ended September 30, 2024 (in thousands):

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

 

(in thousands)

 

(in thousands)

 

Gross product revenue

$

32,657

 

$

33,547

 

Gross-to-net adjustments:

 

 

 

 

Chargebacks and distributor service fees

 

(4,002

)

 

(4,099

)

Government rebates

 

(364

)

 

(375

)

Sales returns and allowances

 

(82

)

 

(84

)

Total gross-to-net adjustments (1)

$

(4,448

)

$

(4,558

)

Net product revenue

$

28,209

 

$

28,989

 

 

(1)
As of September 30, 2024 approximately $1.4 million of estimated gross-to-net accruals have been recorded within accounts payable and accrued expenses on the condensed consolidated balance sheets.