PRODUCT REVENUES, NET, ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT REVENUES (Tables)

9 Months Ended

Sep. 30, 2023

Receivables, Net, Current [Abstract]

Summary of Product Revenues

Net product revenues, which includes revenues associated with EXONDYS 51, AMONDYS 45 and VYONDYS 53 (collectively, the “PMO Products”) and ELEVIDYS consisted of the following:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands)
PMO Products
United States	$	198,069	$	188,346	$	602,415	$	548,355
Rest of World		42,145		19,428		108,282		59,481
Total PMO product revenues, net	$	240,214	$	207,774	$	710,697	$	607,836
ELEVIDYS
United States		69,108		—		69,108		—
Total ELEVIDYS product revenues, net	$	69,108	$	—	$	69,108	$	—
Total product revenues, net	$	309,322	$	207,774	$	779,805	$	607,836

Summary of Change in Reserves for Discounts and Allowances

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, 2022	$	417		$	67,493		$	3,343		$	23,445		$	94,698
Provision		18,191			94,025			11,251			52,500			175,967
Adjustments relating to prior year		110			(4,154	)		—			—			(4,044	)
Payments/credits		(9,386	)		(73,317	)		(10,586	)		(40,048	)		(133,337	)
Balance, as of September 30, 2023	$	9,332		$	84,047		$	4,008		$	35,897		$	133,284

	Chargebacks			Rebates			Prompt Pay			Other Accruals			Total
	(in thousands)
Balance, as of December 31, 2021	$	799		$	60,506		$	2,798		$	6,363		$	70,466
Provision		8,756			80,956			9,508			28,809			128,029
Adjustments relating to prior year		—			(4,111	)		—			30			(4,081	)
Payments/credits		(9,193	)		(70,645	)		(8,930	)		(18,397	)		(107,165	)
Balance, as of September 30, 2022	$	362		$	66,706		$	3,376		$	16,805		$	87,249

Summary of Total Reserves Included in Consolidated Balance Sheets

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

	As of September 30, 2023		As of December 31, 2022
	(in thousands)
Reduction to accounts receivable	$	47,606	$	25,914
Component of accrued expenses		85,678		68,784
Total reserves	$	133,284	$	94,698