Accounts receivable, net consists of the following (in thousands):


	June 30, 2025			December 31, 2024
Accounts receivable – commercial
Accounts receivable, gross	$	17,462		$	22,879
Wholesaler distribution fees and prompt pay discounts		(2,623	)		(4,186	)
Reserve for returns		(10,388	)		(8,858	)
Total accounts receivable – commercial, net		4,451			9,835
Accounts receivable – collaborations and services(1)		22,691			1,969
Total accounts receivable, net	$	27,142		$	11,804

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(1)

The balance as of December 31, 2024 includes the $1.1 million regulatory milestone payment receivable from Cipla. See Note 9 – Collaborations, Licensing and Other Arrangements – Cipla License and Distribution Agreement.

As of June 30, 2025, the Company had three wholesale distributors representing approximately 86% of commercial accounts receivable and approximately 72% and 74% of gross sales during the three and six months ended June 30, 2025, respectively.

As of June 30, 2025, there was no allowance for credit losses for collaborations and services accounts receivable. The Company had one collaboration partner, UT, that comprised 98% of the collaboration and services net accounts receivable as of June 30, 2025 and approximately 97% and 98% of gross revenue from collaborations and services for the three and six months ended June 30, 2025, respectively.