REVENUE

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Total revenues during the three and six months ended June 30, 2024 and 2023 were as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Product sales, net:
IBSRELA	$	35,445	$	18,309	$	63,806	$	29,664
XPHOZAH	37,146		—		52,297		—
Total product sales, net	72,591		18,309		116,103		29,664
Product supply revenue	13		3,260		2,139		3,262
Licensing revenue	19		764		36		776
Non-cash royalty revenue related to the sale of future royalties	599		—		967		—
Total revenues	$	73,222	$	22,333	$	119,245	$	33,702

Revenue from Customers who contributed greater than 10% of our total gross product revenue during the three and six months ended June 30, 2024 and 2023 was as follows (as a percentage of total gross product revenue):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
BioRidge Pharma, LLC	50.8	%	20.0	%	46.3	%	19.0	%
AmerisourceBergen Drug Corporation	14.2	%	21.1	%	15.8	%	21.3	%
Cardinal Health	13.5	%	22.4	%	14.6	%	22.3	%
McKesson Corporation	13.0	%	18.4	%	13.2	%	19.4	%

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, 2023	$	478	$	4,234	$	3,916	$	8,628
Provisions	5,928		24,938		13,258		44,124
Credits/payments	(5,473)		(19,334)		(10,265)		(35,072)
Balance as of June 30, 2024	$	933	$	9,838	$	6,909	$	17,680

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