REVENUES |
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REVENUES |
3. REVENUES Revenues disaggregated by category were as follows (in thousands):
Revenue from product sales is primarily related to sales of our first commercial product, TAVALISSE. In December 2022, following the FDA approval of our second commercial product, REZLIDHIA, we delivered product quantities to our customers and recognized $0.9 million of net revenue included within net product sales for the year ended December 31, 2022. Our net product sales include sale of products to our specialty distributors, net of chargebacks, discounts and fees, government and other rebates and returns. The following tables summarize the activities in chargebacks, discounts and fees, government and other rebates and returns that were accounted for within other accrued liabilities, for each of the periods presented (in thousands):
Of the $31.8 million discounts and allowances from gross product sales for the year ended December 31, 2022, $30.9 million was accounted for as additions to revenue reserves and refund liability and $0.9 million as reductions in accounts receivable (as it relates to allowance for prompt pay discount) and prepaid and other current assets (as it relates to certain chargebacks and other fees that were prepaid) in the balance sheet. Of the $18.2 million discounts and allowances from gross product sales for the year ended December 31, 2021, $16.8 million was accounted for as additions to revenue reserves and refund liability and $1.4 million as reductions in accounts receivable (as it relates to allowance for prompt pay discount) and prepaid and other current assets (as it relates to certain chargebacks and other fees that were prepaid) in the balance sheet.
For detailed discussions of our revenues from collaboration and government contract, see “Note 4 – Sponsored Research and License Agreements and Government Contract” below. The following table summarizes revenues from each of our customers who individually accounted for 10% or more (wherein * denotes less than 10%) of the total net product sales and revenues from collaborations:
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