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Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Product Revenue, Net
During the three and six months ended June 30, 2026, the Company recorded net revenue of $2.4 million and $4.8 million, respectively for the sale of the Company’s drug product in the U.S. Net product revenue was $1.7 million and $2.7 million for the three and six months ended June 30, 2025, respectively.
The following table summarizes the balances and activity in each of the product reserve accounts for the six months ended June 30, 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 six month period ended June 30, 2026468 28 25 521 
Credits and payments made during the period(353)(58)(22)(433)
Balance as of June 30, 2026$533 $— $13 $546 

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 six months ended June 30, 2026.

(in thousands)Accounts Receivable
Beginning balance at December 31, 2025$573 
Increase in accounts receivable for drug product sales6,353 
Decrease in accounts receivable for cash collections(4,879)
Balance as of June 30, 2026$2,047 

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 regulatory milestone payments of €5.5 million, including a €5.0 million regulatory milestone achieved in the second quarter of 2026. The one-time upfront payment and regulatory milestone payments are included in 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 and early access 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)Six Months Ended June 30,
Performance Obligation:20262025
License$33,096 $5,457 $27,639 
Research and development services: WHIM373 5 25 
Research and development services: CN 2,065 47430 
Total35,534 5,509 28,094 
Drug product supply1,163 — 
Total license and other revenue6,672 28,094 
The following table provides a rollforward of deferred revenue six months ended June 30, 2026.

(in thousands)Deferred Revenue
Beginning balance at December 31, 2025$1,085 
Increase for allocation of milestone transaction price to development services401 
Decrease for revenue recognized(52)
Balance as of June 30, 2026$1,434 


As of June 30, 2026, deferred revenue related to the Norgine Agreement was $1.4 million, of which $0.8 million was current.