PRODUCT REVENUES, NET, ACCOUNTS RECEIVABLE, NET, AND RESERVES FOR PRODUCT REVENUES (Tables)

9 Months Ended

Sep. 30, 2024

Receivables, Net, Current [Abstract]

Summary of Product Revenues

Net product revenues, which includes revenues associated with the PMO Products and ELEVIDYS, consisted of the following:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands)
PMO Products
United States	$	210,683	$	198,069	$	604,598	$	602,415
Rest of World		38,105		42,145		108,565		108,282
Total PMO product revenues, net	$	248,788	$	240,214	$	713,163	$	710,697
ELEVIDYS
United States		180,983		69,108		436,640		69,108
Total ELEVIDYS product revenue, net	$	180,983	$	69,108	$	436,640	$	69,108
Total product revenues, net	$	429,771	$	309,322	$	1,149,803	$	779,805

Schedule of Product revenue Concentration risks

The following table summarizes the Company's net product revenues, by customer, for those customers that exceeded 10% for the periods indicated:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2024			2023			2024			2023
Product revenues, net
Customer 1		28	%		40	%		33	%		45	%
Customer 2		19	%		23	%		20	%		29	%

Summary of Change in Reserves for Discounts and Allowances

The following tables summarize an analysis of the change in reserves for discounts and allowances for each of the periods indicated:

	Chargebacks			Rebates			Prompt Pay			Other Accruals			Total
	(in thousands)
Balance, as of December 31, 2023	$	27,486		$	98,194		$	3,831		$	35,261		$	164,772
Provision		72,832			118,228			13,442			53,674			258,176
Adjustments relating to prior periods		783			(8,716	)		—			(88	)		(8,021	)
Payments/credits		(77,808	)		(100,693	)		(12,191	)		(58,741	)		(249,433	)
Balance, as of September 30, 2024	$	23,293		$	107,013		$	5,082		$	30,106		$	165,494

	Chargebacks			Rebates			Prompt Pay			Other Accruals			Total
	(in thousands)
Balance, as of December 31, 2022	$	417		$	67,493		$	3,343		$	23,445		$	94,698
Provision		18,191			94,025			11,251			52,500			175,967
Adjustments relating to prior periods		110			(4,154	)		—			—			(4,044	)
Payments/credits		(9,386	)		(73,317	)		(10,586	)		(40,048	)		(133,337	)
Balance, as of September 30, 2023	$	9,332		$	84,047		$	4,008		$	35,897		$	133,284

Summary of Total Reserves Included in Consolidated Balance Sheets

The following table summarizes the total reserves above included in the Company’s unaudited condensed consolidated balance sheets for each of the periods indicated:

	As of September 30, 2024		As of December 31, 2023
	(in thousands)
Reduction to accounts receivable, net	$	56,773	$	64,697
Component of accrued expenses		108,721		100,075
Total reserves	$	165,494	$	164,772