| REVENUES |
Revenues disaggregated by category were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
Product sales: |
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|
|
|
|
|
|
|
|
|
|
|
Gross product sales |
|
$ |
26,977 |
|
$ |
20,546 |
|
$ |
76,022 |
|
|
58,692 |
Discounts and allowances |
|
|
(7,789) |
|
|
(4,534) |
|
|
(22,087) |
|
|
(13,251) |
Total product sales, net |
|
|
19,188 |
|
|
16,012 |
|
|
53,935 |
|
|
45,441 |
Revenues from collaborations: |
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|
|
|
|
|
|
|
|
|
|
License revenues |
|
|
— |
|
|
2,431 |
|
|
2,545 |
|
|
70,354 |
Development milestones |
|
|
— |
|
|
1,875 |
|
|
5,000 |
|
|
1,875 |
Research and development services and others |
|
|
722 |
|
|
225 |
|
|
4,984 |
|
|
1,657 |
Total revenues from collaborations |
|
|
722 |
|
|
4,531 |
|
|
12,529 |
|
|
73,886 |
Government contract |
|
|
2,500 |
|
|
1,000 |
|
|
2,500 |
|
|
9,500 |
Total revenues |
|
$ |
22,410 |
|
$ |
21,543 |
|
$ |
68,964 |
|
$ |
128,827 |
Our net product sales include sales of TAVALISSE in the US, net of chargebacks, discounts and fees, government and other rebates and returns. The following tables summarize the activities in chargebacks, discounts and fees, government and other rebates and returns that were accounted for within other accrued liabilities, for each of the periods presented (in thousands):
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|
|
|
|
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|
|
|
|
|
|
|
|
Chargebacks, |
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Government |
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|
|
|
|
|
Discounts and |
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and Other |
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|
|
|
|
|
Fees |
|
Rebates |
|
Returns |
|
Total |
Balance as of January 1, 2022 |
|
$ |
3,404 |
|
$ |
2,494 |
|
$ |
2,017 |
|
$ |
7,915 |
Provision related to current period sales |
|
|
14,475 |
|
|
4,130 |
|
|
1,045 |
|
|
19,650 |
Credit or payments made during the period |
|
|
(11,920) |
|
|
(4,257) |
|
|
(199) |
|
|
(16,376) |
Balance as of September 30, 2022 |
|
$ |
5,959 |
|
$ |
2,367 |
|
$ |
2,863 |
|
$ |
11,189 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chargebacks, |
|
Government |
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|
|
|
|
|
|
|
Discounts and |
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and Other |
|
|
|
|
|
|
|
|
Fees |
|
Rebates |
|
Returns |
|
Total |
Balance as of January 1, 2021 |
|
$ |
2,461 |
|
$ |
2,115 |
|
$ |
1,489 |
|
$ |
6,065 |
Provision related to current period sales |
|
|
7,326 |
|
|
3,995 |
|
|
739 |
|
|
12,060 |
Credit or payments made during the period |
|
|
(7,073) |
|
|
(3,367) |
|
|
(387) |
|
|
(10,827) |
Balance as of September 30, 2021 |
|
$ |
2,714 |
|
$ |
2,743 |
|
$ |
1,841 |
|
$ |
7,298 |
Of the $22.1 million discounts and allowances from gross product sales for the nine months ended September 30, 2022, $19.7 million was accounted for as additions to other accrued liabilities and $2.4 million as reductions in accounts receivable (as it relates to allowance for prompt pay discount) and prepaid and other current assets (as it relates to certain chargebacks and other fees that were prepaid) in the condensed balance sheet.
Of the $13.3 million discounts and allowances from gross product sales for the nine months ended September 30, 2021, $12.1 million was accounted for as additions to other accrued liabilities and $1.2 million as reductions in accounts receivable (as it relates to allowance for prompt pay discount) and prepaid and other current assets (as it relates to certain chargebacks and other fess that were prepaid) in the condensed balance sheet.
For detailed discussions of our revenues from collaboration and government contract, see “Note 4 – Sponsored Research and License Agreements and Government Contract” below.
The following table summarizes the percentages of revenues from each of our customers who individually accounted for 10% or more (wherein * denotes less than 10%) of the total net product sales and revenues from collaborations:
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Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2022 |
|
2021 |
|
|
2022 |
|
2021 |
McKesson Specialty Care Distribution Corporation |
|
|
44% |
|
|
35% |
|
|
|
38% |
|
|
17% |
Cardinal Healthcare |
|
|
27% |
|
|
18% |
|
|
|
22% |
|
|
* |
ASD Healthcare and Oncology Supply |
|
|
25% |
|
|
25% |
|
|
|
21% |
|
|
15% |
Lilly |
|
|
* |
|
|
12% |
|
|
|
* |
|
|
56% |
Kissei |
|
|
* |
|
|
* |
|
|
|
11% |
|
|
* |
|