Product Revenue, Net

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Product Revenue, Net

PRODUCT REVENUE, NET

We received approval from the FDA in September 2019 to market IBSRELA, the first and only sodium hydrogen exchanger 3 (“NHE3”) inhibitor for the treatment of irritable bowel syndrome with constipation ("IBS-C") in adults, in the U.S. We began selling IBSRELA in the U.S. in March 2022. We recorded net revenue for IBSRELA of $0.5 million during the three months ended March 31, 2022.

Sales to Cardinal Health, AmerisourceBergen Drug Corporation, and McKesson Corporation made up 17.9%, 17.1%, and 15.4% of our gross product revenue during the three months ended March 31, 2022.

The activities and ending reserve balances for each significant category of discounts and allowances, which constitute variable consideration, were as follows (in thousands):

	Discounts and Chargebacks		Rebates		Other Fees, Copay and Returns		Total
Balance as of December 31, 2021	$	—	$	—	$	—	$	—
Activity related to 2022 sales	24		40		90		154
Balance as of March 31, 2022	$	24	$	40	$	90	$	154

There were no product sales or gross-to-net accruals during the three months ended March 31, 2021.