Note 2 - Revenues

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

(2) REVENUES:

The Company operates in one business segment, which primarily focuses on the development and commercialization of innovative cyclodextrin-based products for the treatment of people with serious and life-threatening rare diseases and medical conditions. However, substantially all of the Company’s revenues are derived from the sale of cyclodextrins and related products to the pharmaceutical, nutritional, and other industries, primarily for use in diagnostics and specialty drugs.  Currently, a small portion of the Company’s revenues is generated by sales of Trappsol® Cyclo™ to South America (Brazil) for the treatment of NPC patients.

(2) REVENUES: (CONTINUED)

The Company considers there to be revenue concentration risks for regions where net product revenues exceed 10% of condensed consolidated net product revenues. The concentration of the Company’s net product revenues within the regions below may have a material adverse effect on the Company’s revenues and results of operations if sales in the respective regions experience difficulties.

Revenues by product are summarized as follows:

	Three Months Ended
	March 31,
	2023		2022
Trappsol® Cyclo™	$	53,384	$	-
Trappsol® HPB		85,984		64,573
Trappsol® Fine Chemical		3,239		129,703
Aquaplex®		9,804		628
Total revenues	$	152,411	$	194,904

Substantially all of our sales of Trappsol® Cyclo™ for the three months ended March 31, 2023 were to a single customer who exports the drug to South America. Substantially all of our Aquaplex® sales for the three months ended March 31, 2023 and March 31, 2022 were to one customer.