PRODUCT REVENUES, NET, ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT SALES

9 Months Ended

Sep. 30, 2021

PRODUCT REVENUES, NET, ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT SALES

7. PRODUCT REVENUES, NET, ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT SALES

The following table summarizes the Company’s product revenues, net by product for the periods indicated:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020
	(in thousands)
EXONDYS 51	$	115,598	$	111,802	$	335,244	$	314,332
AMONDYS 45		26,655		—		33,784		—
VYONDYS 53		24,658		9,627		64,648		18,889
Product revenues, net	$	166,911	$	121,429	$	433,676	$	333,221

The following table summarizes the components of the Company’s accounts receivable for the periods indicated:


	As of September 30, 2021		As of December 31, 2020
	(in thousands)
Product sales receivable, net of discounts and allowances	$	149,317	$	100,870
Government contract receivables		470		470
Total accounts receivable, net	$	149,787	$	101,340

The balance for government contract receivables for both periods presented is subject to government audit and will not be collected until the completion of the audit.

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, 2020	$	2,281		$	41,771		$	1,949		$	4,969		$	50,970
Provision		9,350			54,686			6,603			10,232			80,871
Payments/credits		(10,878	)		(37,818	)		(5,865	)		(9,595	)		(64,156	)
Balance, as of September 30, 2021	$	753		$	58,639		$	2,687		$	5,606		$	67,685


	Chargebacks			Rebates			Prompt Pay			Other Accruals			Total
	(in thousands)
Balance, as of December 31, 2019	$	588		$	44,738		$	1,506		$	4,671		$	51,503
Provision		7,137			38,763			4,599			8,046			58,545
Payments/credits		(6,699	)		(39,489	)		(4,348	)		(7,694	)		(58,230	)
Balance, as of September 30, 2020	$	1,026		$	44,012		$	1,757		$	5,023		$	51,818

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


	As of September 30, 2021		As of December 31, 2020
	(in thousands)
Reduction to accounts receivable	$	7,743	$	8,352
Component of accrued expenses		59,942		42,618
Total reserves	$	67,685	$	50,970