Accounts Receivable

9 Months Ended

Sep. 30, 2024

4. Accounts Receivable

Accounts receivable, net consists of the following (in thousands):


	September 30, 2024			December 31, 2023
Accounts receivable – commercial
Accounts receivable, gross	$	18,359		$	20,199
Wholesaler distribution fees and prompt pay discounts		(2,363	)		(2,469	)
Reserve for returns		(7,817	)		(6,215	)
Allowance for credit losses		—			(157	)
Total accounts receivable – commercial, net		8,179			11,358
Accounts receivable – collaborations and services		10,005			3,543
Total accounts receivable, net	$	18,184		$	14,901

As of December 31, 2023, the allowance for credit losses and doubtful accounts for commercial accounts receivable of $0.2 million was related to accounts receivable for Zealand Pharma US, Inc. As of September 30, 2024, the Company had three wholesale distributors representing approximately 87% of commercial accounts receivable and 77% and 73% of gross sales during the three and nine months ended September 30, 2024, respectively.

As of September 30, 2024 and December 31, 2023, there was no allowance for credit losses for accounts receivable for collaborations and services. The Company had one collaboration partner, UT, that comprised 100% of the collaboration and services net accounts receivable as of September 30, 2024 and December 31, 2023 and approximately 100% of gross revenue from collaborations and services for the three and nine months ended September 30, 2024.