Product Revenue Reserves and Allowances

6 Months Ended

Jun. 30, 2019

Disclosure Of Product Revenue Reserves And Allowances [Abstract]

Product Revenue Reserves and Allowances

8. Product Revenue Reserves and Allowances

To date, the Company’s only source of product revenues has been from sales of YUTIQ and DEXYCU in the U.S., which it began shipping to its 3PL in February 2019 and March 2019, respectively.

Net product revenues by product for the three and six months ended June 30, 2019 were as follows (in thousands):

	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
YUTIQ	$	6,705	$	7,248
DEXYCU		—		684
Total product sales, net	$	6,705	$	7,932

During the three and six months ended June 30, 2019, revenues from the Company’s single 3PL accounted for 93.0% and 86.0% of total revenues, respectively. Accounts receivable from the 3PL accounted for 94.7% of total accounts receivable at June 30, 2019.

The following table summarizes activity in each of the product revenue allowance and reserve categories for the six months ended June 30, 2019 (in thousands):

	Chargebacks, Discounts			Government and Other
	and Fees			Rebates		Returns		Total
Beginning balance at January 1, 2019	$	—		$	—	$	—	$	—
Provision related to sales in the current year		877			76		187		1,140
Adjustments related to prior period sales		—			—		—		—
Credits and payments made		(89	)		—		—		(89	)
Ending balance at June 30, 2019	$	788		$	76	$	187	$	1,051

All product revenue allowances and reserves at June 30, 2019 are recorded as a component of accrued expenses on the condensed consolidated balance sheets (See Note 6).