REVENUE (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenue

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Product sales, net:
IBSRELA	$	40,638	$	22,285	$	104,444	$	51,949
XPHOZAH	51,452		—		103,749		—
Total product sales, net	92,090		22,285		208,193		51,949
Product supply revenue	5,322		2,092		7,461		5,354
Licensing revenue	20		32,014		56		32,790
Non-cash royalty revenue related to the sale of future royalties	809		—		1,776		—
Total revenues	$	98,241	$	56,391	$	217,486	$	90,093

Schedule of Revenue from Customers as a Percentage of Total Product Revenue, Net

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
BioRidge Pharma, LLC	53.4	%	19.5	%	49.3	%	19.2	%
AmerisourceBergen Drug Corporation	14.0	%	21.2	%	15.1	%	21.3	%
Cardinal Health	12.6	%	22.2	%	13.8	%	22.3	%
McKesson Corporation	13.2	%	18.4	%	13.2	%	19.0	%

Schedule of Chargebacks, Discounts and Reserve Balances

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	10,074		43,398		20,390		73,862
Credits/payments	(8,974)		(33,925)		(16,271)		(59,170)
Balance as of September 30, 2024	$	1,578	$	13,707	$	8,035	$	23,320