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Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Percentage of Product Sales and Accounts Receivable Balance

The following table includes the percentage of product sales and accounts receivable balances for our three major Customers, each of which comprised 10% or more of our product sales:

 

 

 

Product Sales

 

 

Accounts
Receivable

 

 

 

Three Months Ended
June 30, 2023

 

 

Six Months Ended
June 30, 2023

 

 

As of
June 30, 2023

 

Customer A

 

 

43.2

%

 

 

42.3

%

 

 

33.1

%

Customer B

 

 

35.1

%

 

 

37.2

%

 

 

50.3

%

Customer C

 

 

20.6

%

 

 

19.3

%

 

 

16.1

%

Total

 

 

98.9

%

 

 

98.8

%

 

 

99.5

%

 

Schedule of Disaggregated Net Product Sales

The following table provides disaggregated net product sales (in thousands):

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

CINVANTI net product sales

 

$

24,474

 

 

$

22,661

 

 

$

47,329

 

 

$

43,004

 

SUSTOL net product sales

 

 

2,836

 

 

 

2,446

 

 

 

5,819

 

 

 

4,508

 

ZYNRELEF net product sales

 

 

4,128

 

 

 

2,523

 

 

 

7,661

 

 

 

3,575

 

APONVIE net product sales

 

 

324

 

 

 

 

 

 

568

 

 

 

 

Total net product sales

 

$

31,762

 

 

$

27,630

 

 

$

61,377

 

 

$

51,087

 

 

Summary of Activity to Product Returns, Distributor Fees and Discounts, Rebates and Administrative Fees

The following table provides a summary of activity with respect to our product returns, distributor fees and discounts, rebates and administrative fees, which are included in other accrued liabilities on the condensed consolidated balance sheets (in thousands):

 

 

 

Product
Returns

 

 

Distributor
Fees

 

 

Discounts,
Rebates and
Administrative Fees

 

 

Total

 

Balance at December 31, 2022

 

$

3,336

 

 

$

4,180

 

 

$

25,801

 

 

$

33,317

 

Provision

 

 

1,533

 

 

 

11,487

 

 

 

84,664

 

 

 

97,684

 

Payments/credits

 

 

(755

)

 

 

(9,889

)

 

 

(71,862

)

 

 

(82,506

)

Balance at June 30, 2023

 

$

4,114

 

 

$

5,778

 

 

$

38,603

 

 

$

48,495

 

Common Stock Equivalents Excluded From Computation of Net Loss Per Share

Because we have incurred a net loss for all periods presented in the unaudited condensed consolidated statements of operations and comprehensive loss, the following common stock equivalents were not included in the computation of net loss per share because their effect would be anti-dilutive (in thousands):

 

 

 

June 30,

 

 

 

2023

 

 

2022

 

Stock options outstanding

 

 

28,778

 

 

 

20,371

 

Restricted stock units outstanding

 

 

2,732

 

 

 

2,207

 

Warrants outstanding

 

 

8,548

 

 

 

 

Shares of common stock underlying convertible notes outstanding

 

 

9,819

 

 

 

9,819