v3.26.1
Concentration of Credit Risk and Current Expected Credit Losses
 6 Months Ended
Jun. 30, 2026
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk and Current Expected Credit Losses
Note 5. Concentration of Credit Risk and Current Expected Credit Losses
In November 2009, we entered into a collaboration and license agreement with Novartis Pharma AG (formerly known as Novartis Pharmaceutical International Ltd.) (“Novartis”). In December 2009, we entered into a license, development and commercialization agreement with Eli Lilly and Company (“Lilly”). The above collaboration partners comprised, in aggregate, 15% and 17% of the accounts receivable balance as of June 30, 2026 and December 31, 2025, respectively. For further information relating to these collaboration and license agreements, refer to Note 7.
The concentration of credit risk related to our JAKAFI and OPZELURA sales is as follows:
Percentage of Total Net
Sales for the
Three Months Ended		Percentage of Total Net
Sales for the
Six Months Ended
June 30,June 30,
2026202520262025
Customer A11 %13 %12 %14 %
Customer B7 %9 %8 %10 %
Customer C20 %20 %21 %20 %
Customer D19 %19 %19 %19 %
Customer E12 %11 %11 %10 %
Customer F10 %9 %10 %9 %
We are exposed to risks associated with extending credit to customers related to the sale of products. Customers A, B, C, D, E and F comprised, in the aggregate, 63% and 54% of the accounts receivable balance as of June 30, 2026 and December 31, 2025, respectively. The concentration of credit risk relating to our other sales or accounts receivable is not significant.
We assessed our collaborative and customer receivable assets as of June 30, 2026 according to our accounting policy for applying reserves for expected credit losses, noting minimal history of uncollectible receivables and the continued perceived creditworthiness of our third party sales relationships, upon which the expected credit losses were considered de minimis. As of June 30, 2026 and December 31, 2025, we had a de minimus amount of allowance for doubtful accounts.