Revenue

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

PRODUCT REVENUE, NET

During the three and nine months ended September 30, 2024, the Company recorded net revenue $0.6 million and $1.1 million, respectively, for the sale of the Company’s product.

The following table summarizes the balances and activity in each of the product reserve accounts for the nine months ended September 30, 2024.

(in thousands)	Rebates and Discounts		Co-Pay Assistance		Product Returns		Total
Beginning balance at December 31, 2023	$	—	$	—	$	—	$	—
Provision related to revenue associated with sales processed in the nine month period ended September 30, 2024	59		37		5		101
Credits and payments made during the period	(35)		(33)		—		(68)
Balance as of September 30, 2024	$	24	$	4	$	5	$	33

The provision for contractual discounts provided to the Company’s customer is recorded as a reduction of accounts receivable.

The provisions for co-pay assistance payments, contractual rebates and product returns are classified within accrued expenses.

The following table provides a rollforward of accounts receivable for the nine months ended September 30, 2024. There was no

activity in accounts receivable in the nine months ended September 30, 2023.

(in thousands)	Accounts Receivable
Beginning balance at December 31, 2023	$	—
Increase in accounts receivable for drug product sales	1,189
Decrease in accounts receivable for cash collections	(1,189)
Balance as of September 30, 2024	$	—