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PRODUCT REVENUE AND RESERVES FOR VARIABLE CONSIDERATION
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
PRODUCT REVENUE AND RESERVES FOR VARIABLE CONSIDERATION PRODUCT REVENUE AND RESERVES FOR VARIABLE CONSIDERATION
Until Vafseo's market entry in January 2025, the Company’s only source of product revenue was from the U.S. sales of Auryxia. The Company recognized the following revenue from Vafseo and Auryxia (in thousands): 
Three Months Ended March 31,
Product
20252024
Vafseo
$12,034 $— 
Auryxia(1)
43,757 31,009 
Total product revenues
$55,791 $31,009 
(1) Includes the authorized generic version of Auryxia sold and distributed by the Company's authorized generic distribution partner, Mylan Therapeutics, Inc., or AG Partner, during the three months ended March 31, 2025.
The following table presents changes in the Company’s contract assets and liabilities related to the Company's sales to its AG Partner (in thousands):
Three Months Ended March 31, 2025
Balance at
Beginning of
Period		AdditionsDeductionsBalance
at End
of Period
Contract assets:
Accounts receivable
$— $1,241 $— $1,241 
Contract liabilities:
Deferred revenue
$— $1,241 $— $1,241 
Product revenue allowance and reserve categories were as follows: 
(in thousands)Chargebacks
and Discounts		Rebates, Fees
and other
Deductions		Product ReturnsTotal
Balance at December 31, 2024$1,436 $15,726 $6,442 $23,604 
Current provisions related to sales in current year380 20,147 387 20,914 
Adjustments related to prior year sales69 400 (164)305 
Credits/payments made(1,389)(8,822)(145)(10,356)
Balance at March 31, 2025$496 $27,451 $6,520 $34,467 
(in thousands)Chargebacks
and Discounts		Rebates, Fees
and other
Deductions		Product ReturnsTotal
Balance at December 31, 2023$1,607 $22,991 $6,916 $31,514 
Current provisions related to sales in current year1,910 10,229 961 13,100 
Adjustments related to prior year sales(93)(1,374)(105)(1,572)
Credits/payments made(2,216)(18,282)(1,974)(22,472)
Balance at March 31, 2024$1,208 $13,564 $5,798 $20,570 
Chargebacks, discounts and estimated product returns are recorded as a reduction of revenue in the period the related product revenue is recognized in the unaudited condensed consolidated statements of operations and comprehensive income (loss). Chargebacks are recorded as a reduction to accounts receivable while discounts, rebates, fees and other deductions are recorded with a corresponding increase to accrued expenses and other current liabilities or accounts payable on the condensed consolidated balance sheets. Estimated product returns on product sales that are not expected to be returned within one year are recorded as other long-term liabilities in the unaudited condensed consolidated balance sheets.
Accounts receivable, net related to product sales, was approximately $60.0 million and $32.4 million as of March 31, 2025 and December 31, 2024, respectively.