REVENUE

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Disaggregated Revenue

The following table reflects summary revenue, net for the three and six months ended June 30, 2023 and 2022 (in thousands): 

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Product sales, net:
INDOCIN products	$	28,075	$	22,841	$	58,421	$	44,197
Otrexup	3,594		2,616		6,416		5,694
Sympazan	2,627		—		5,129		—
SPRIX	2,373		2,216		4,262		3,982
CAMBIA	1,805		6,183		4,069		11,656
Zipsor	1,004		216		2,154		2,445
Other products	605		1,358		1,401		3,003
Total product sales, net	40,083		35,430		81,852		70,977
Royalties and milestone revenue	723		451		1,420		1,443
Other revenue	185		(750)		185		(750)
Total revenues	$	40,991	$	35,131	$	83,457	$	71,670

Product Sales, net

For the three and six months ended June 30, 2023 and 2022, product sales primarily consisted of sales from INDOCIN products, Otrexup, Sympazan, SPRIX, and CAMBIA. The Company acquired Sympazan and began shipping and recognizing its product sales in October 2022.

Other product sales for the three and six months ended June 30, 2023 primarily include product sales for non-promoted products (OXAYDO). The Company ceased SOLUMATRIX sales beginning in July 2022.

Royalties and Milestone Revenue

In November 2010, the Company entered into a license agreement granting the counterparty the rights to commercially market CAMBIA in Canada. The counterparty to the license agreement independently contracts with manufacturers to produce a specific CAMBIA formulation in Canada. The Company receives royalties on net sales on a quarterly basis as well as certain one-time contingent milestone payments upon the occurrence of certain events. The Company recognized revenue related to CAMBIA in Canada of $0.4 million and $1.0 million for the three and six months ended June 30, 2023, respectively, and $0.5 million and $1.0 million for the three and six months ended June 30, 2022, respectively.

The Company records contract liabilities in the form of deferred revenue resulting from prepayments from customers in Other current liabilities in the Company’s Condensed Consolidated Balance Sheets. As of June 30, 2023 and December 31, 2022, contract liabilities were zero and $0.2 million, respectively. The Company recognized Milestone revenue associated with the completion of certain service milestones of $0.3 million and $0.5 million for the three and six months ended June 30, 2023, respectively, and $0.5 million for the six months ended June 30, 2022. The Company recognized no Milestone revenue for the three months ended June 30, 2022.

Other Revenue

Other revenue consists of sales adjustments for previously divested products, which includes adjustments to reserves for product sales allowances (gross to-net sales allowances) and can result in reductions or an increase to total revenue during the period.