v3.26.1
Revenue Recognition
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

8. Revenue Recognition

To date, our only source of revenue has been from the U.S. sales of VOQUEZNA products, which the Company began selling during the fourth quarter of 2023. The Company records its best estimate of chargebacks, sales returns, sales discounts and other reserves to which customers are likely expected to be entitled to as contra accounts receivable charges, and within accrued expenses if payable to a third-party or related to product returns on the condensed balance sheets. During the six months ended June 30, 2026 and 2025, the Company recognized $132.6 million and $68.0 million, respectively, of net product revenues related to sales of VOQUEZNA, VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK.

The following table provides a summary of the Company's revenue allowances and related accruals for the six months ended June 30, 2026, which have been deducted in arriving at product revenues, net (in thousands):

 

 

 

Customer Credits, Discounts and Allowances

 

 

Rebates, Returns and Co-Pay Assistance

 

 

 

 

 

 

(contra accounts receivable)

 

 

(accrued
expenses)

 

 

Total

 

Balance as of January 1, 2026

 

$

10,646

 

 

$

65,462

 

 

$

76,108

 

Accruals

 

 

36,700

 

 

 

129,966

 

 

 

166,666

 

Utilizations

 

 

(38,674

)

 

 

(107,679

)

 

 

(146,353

)

Balance as of June 30, 2026

 

$

8,672

 

 

$

87,749

 

 

$

96,421