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

12 Months Ended

Dec. 31, 2021

Receivables, Net, Current [Abstract]

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

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

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

	For the Year Ended December 31,
	2021		2020		2019
	(in thousands)
EXONDYS 51	$	454,361	$	422,007	$	380,718
VYONDYS 53		89,511		33,858		115
AMONDYS 45		68,529		—		—
Products, net	$	612,401	$	455,865	$	380,833

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

	As of December 31,
	2021		2020
	(in thousands)
Product sales receivable, net of discounts and allowances	$	152,990	$	100,870
Government contract receivables		—		470
Total accounts receivable, net	$	152,990	$	101,340

The relevant government audit was completed and, as a result, the outstanding balance for government contract receivables was received as of December 31, 2021.

The following table summarizes an analysis of the change in reserves for discounts and allowances for the periods indicated:

	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		9,700			52,180			6,384			10,175			78,439
Payments/credits		(8,007	)		(55,147	)		(5,941	)		(9,877	)		(78,972	)
Balance, as of December 31, 2020	$	2,281		$	41,771		$	1,949		$	4,969		$	50,970
Provision		13,308			78,637			9,400			16,107			117,452
Payments/credits		(14,790	)		(59,902	)		(8,551	)		(14,713	)		(97,956	)
Balance, as of December 31, 2021	$	799		$	60,506		$	2,798		$	6,363		$	70,466

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

	As of December 31,
	2021		2020
	(in thousands)
Reduction to accounts receivable	$	8,321	$	8,352
Component of accrued expenses		62,145		42,618
Total reserves	$	70,466	$	50,970