v3.26.1
REVENUE RECOGNITION
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Net Product Revenue
To date, our only source of product revenue has been from the U.S. sales of RYTELO, which we began shipping to our customers in June 2024. To date, product revenue pursuant to Named Patient Programs outside of the U.S. have been not material.
The reconciliation of gross product sales to net product sales by each significant category of gross-to-net adjustments was as follows for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Gross product revenue$72,436 $57,874 $137,789 $103,186 
Gross-to-net adjustments:
Chargebacks(9,190)(5,940)(17,354)(10,111)
Distributor service fees(2,371)(1,950)(4,540)(3,476)
Government rebates(1,969)(459)(3,627)(525)
Sales returns and allowances(1,433)(518)(3,024)(631)
Total gross-to-net adjustments(14,963)(8,867)(28,545)(14,743)
Net product revenue$57,473 $49,007 $109,244 $88,443 
As of June 30, 2026, three customers individually accounted for approximately 42%, 36% and 18% of our gross accounts receivable associated with our product revenue, as compared to 43%, 38% and 17% as of December 31, 2025, respectively.