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Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Product Revenue, Net
During the three months ended March 31, 2026, the Company recorded net revenue $2.5 million for the sale of the Company’s drug product in the U.S. Net product revenue was $0.9 million for the three months ended March 31, 2025.
The following table summarizes the balances and activity in each of the product reserve accounts for the three months ended March 31, 2026.
(in thousands)Rebates and DiscountsCo-Pay AssistanceProduct ReturnsTotal
Beginning balance at December 31, 2025$418 $30 $10 $458 
Provision related to revenue associated with sales processed in the three month period ended March 31, 2026238 40 3 281 
Adjustments related to revenue associated with sales processed in prior periods— — — — 
Credits and payments made during the period(176)(52)— (228)
Balance as of March 31, 2026$480 $18 $13 $511 

The provision for contractual discounts provided to the Company’s customer is recorded as a reduction of accounts receivable. The provisions for co-pay assistance payments, contractual rebates and product returns are classified within accrued expenses.

The following table provides a rollforward of accounts receivable for the three months ended March 31, 2026.

(in thousands)Accounts Receivable
Beginning balance at December 31, 2025$573 
Increase in accounts receivable for drug product sales2,852 
Decrease in accounts receivable for cash collections(2,312)
Balance as of March 31, 2026$1,113 

License and Other
During the first quarter of 2025, the Company entered into a license and supply agreement (the “Norgine Agreement”) with Norgine Pharma UK Ltd. (“Norgine”). The Company analyzed the activities required under the Norgine Agreement and concluded that the arrangement was indicative of a vendor-customer relationship and would be accounted for under ASC 606. To date, the Company has received a one-time, non-refundable, up-front payment of €28.5 million and a regulatory milestone payment of €0.5 million, which are included the transaction price. All other future regulatory-based milestone payments, which represent variable consideration, have been fully constrained as these are not yet considered probable. The Company has also excluded from the transaction price future royalty payments that are based on units sold by Norgine and future cumulative revenue-based milestone payments under the applicable practical expedient.

Under the Norgine Agreement, the Company’s promises include a) the delivery of a license, b) research and development services for certain components of WHIM clinical studies, c) research and development services for the global Phase 3 trial of XOLREMDI for CN, and d) the option for delivery of commercial drug supply.

The following table summarizes the allocation of transaction price to the performance obligations under the Norgine Agreement based on the weighting of estimated stand-alone selling price for these performance obligations at the inception of the agreement.

Allocation of Transaction PriceRevenue Recognized
(in thousands)Three Months Ended March 31,
Performance Obligation:20262025
License$27,639 $— $27,639 
Research and development services: WHIM312 — 17 
Research and development services: CN 1,724 58209 
Drug product supply181 181 — 
Total$29,856 $239 $27,865 
The following table provides a rollforward of deferred revenue three months ended March 31, 2026.

(in thousands)Deferred Revenue
Beginning balance at December 31, 2025$1,085 
Decrease in deferred revenue for revenue recognized(58)
Balance as of March 31, 2026$1,027 


As of March 31, 2026, deferred revenue related to the Norgine Agreement was $1.0 million, of which $0.9 million was current.