| Product Revenue, Net |
3. Product Revenue, Net The Company derives substantially all of its product revenue, net from sales of ARCALYST in the United States, which was as follows: | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Product revenue, net | | $ | 285,970 | | $ | 180,855 | | $ | 743,836 | | $ | 475,437 |
The following table summarizes balances and activity in each of the product revenue allowance and reserve categories for the nine months ended September 30, 2026: | | | | | | | | | | | | | | | Contractual | | Government | | | | | | | Adjustments | | Rebates | | Returns | | Total | Balance at December 31, 2025 | | $ | 4,559 | | $ | 11,883 | | $ | 3,124 | | $ | 19,566 | Current provisions relating to sales in the current year | | | 28,011 | | | 27,686 | | | 1,405 | | | 57,102 | Adjustments relating to prior years | | | (5) | | | (2,361) | | | (1,821) | | | (4,187) | Payments/returns relating to sales in the current year | | | (26,693) | | | (15,705) | | | — | | | (42,398) | Payments/returns relating to sales in the prior years | | | (4,554) | | | (7,517) | | | (130) | | | (12,201) | Balance at September 30, 2026 | | $ | 1,318 | | $ | 13,986 | | $ | 2,578 | | $ | 17,882 |
Total revenue-related reserves as of September 30, 2026 and December 31, 2025, included in the Company’s condensed consolidated balance sheets, are summarized as follows: | | | | | | | | | September 30, | | December 31, | | | 2026 | | 2025 | Components of accounts receivable | | $ | (1,014) | | $ | (831) | Components of other current liabilities | | | 18,896 | | | 20,397 | Total revenue-related reserves | | $ | 17,882 | | $ | 19,566 |
Substantially all of the Company’s trade accounts receivable arise from product revenue in the United States due from the Company’s third party logistics provider.
|