Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Total revenues during the years ended December 31, 2023, 2022, and 2021 were as follows (in thousands):

	Year Ended December 31,
	2023		2022		2021
Product sales, net:
IBSRELA	$	80,062	$	15,600	$	—
XPHOZAH	2,464		—		—
Total product sales, net	82,526		15,600		—
Licensing revenue	35,809		35,031		5,013
Product supply revenue	6,121		1,527		907
Collaborative development revenue	—		—		4,177
Total revenues	$	124,456	$	52,158	$	10,097

Revenue from the following Customers who contributed greater than 10% of our gross product revenue during the years ended December 31, 2023 and 2022 as a percentage of total gross product revenue was as follows:

	Year Ended December 31,
	2023		2022
BioRidge Pharma, LLC	26.3	%	—	%
Cardinal Health	21.6	%	23.1	%
AmerisourceBergen Drug Corporation	20.9	%	26.8	%
McKesson Corporation	17.2	%	21.6	%

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, Wholesaler and GPO Fees		Copay and Returns		Total
Balance as of December 31, 2021	$	—	$	—	$	—	$	—
Provisions	825		2,721		2,502		6,048
Credits/payments	(683)		(1,277)		(1,244)		(3,204)
Balance as of December 31, 2022	142		1,444		1,258		2,844
Provisions	5,341		15,365		10,629		31,335
Credits/payments	(5,005)		(12,575)		(7,971)		(25,551)
Balance as of December 31, 2023	$	478	$	4,234	$	3,916	$	8,628

Adjustments to prior period provisions recorded in the current period were not material.