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PRODUCT REVENUE AND PROVISIONS FOR VARIABLE CONSIDERATION
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
PRODUCT REVENUE AND PROVISIONS FOR VARIABLE CONSIDERATION PRODUCT REVENUE AND PROVISIONS 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 following table presents net product revenue for Vafseo and Auryxia (in thousands): 
Years Ended December 31,
Product202520242023
Vafseo$45,790 $— $— 
Auryxia(1)
181,542 152,180 170,301 
Total product revenues$227,332 $152,180 $170,301 
(1) Includes the authorized generic version of Auryxia sold and distributed by the Company's authorized generic distribution partner, Mylan Therapeutics, Inc., or AG Distributor, during the year ended December 31, 2025.
The following table presents changes in the Company’s contract assets and liabilities related to the Company's sales to its AG Distributor (in thousands):
Year Ended December 31, 2025
Balance at
Beginning of
Period		AdditionsDeductionsBalance at End
of Period
Contract assets:
Accounts receivable$— $12,006 $(11,812)$194 
Contract liabilities:
Deferred revenue$— $10,675 $(7,994)$2,681 
Product revenue allowance and provision categories were as follows:
(in thousands)Chargebacks
and
Discounts		Rebates, Fees
and other
Deductions		ReturnsTotal
Balance at December 31, 2022$1,259 $26,252 $10,923 $38,434 
Provisions related to sales in current year11,138 79,648 6,181 $96,967 
Adjustments related to prior year sales(304)(1,506)1,648 $(162)
Credits/payments made(10,486)(81,403)(11,836)$(103,725)
Balance at December 31, 2023$1,607 $22,991 $6,916 $31,514 
Current provisions related to sales in current year9,225 44,914 4,862 59,001 
Adjustments related to prior year sales(94)(2,056)(540)(2,690)
Credits/payments made(9,302)(50,123)(4,796)(64,221)
Balance at December 31, 2024$1,436 $15,726 $6,442 $23,604 
Current provisions related to sales in current year4,051 81,019 634 85,704 
Adjustments related to prior year sales69 143 (1,631)(1,419)
Credits/payments made(4,403)(24,299)(2,094)(30,796)
Balance at December 31, 2025$1,153 $72,589 $3,351 $77,093 
Chargebacks, discounts and estimated product returns are recorded as a reduction of revenue in the period the related product revenue is recognized in the consolidated statements of operations and comprehensive 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 in the 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 consolidated balance sheets.
Accounts receivable, net related to product sales was approximately $44.4 million and $32.4 million as of December 31, 2025 and 2024, respectively.