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

3 Months Ended

Mar. 31, 2024

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 March 31,
	2024		2023
	(in thousands)
PMO Products
United States	$	189,667	$	200,451
Rest of World		35,881		31,044
Total PMO product revenues, net	$	225,548	$	231,495
ELEVIDYS
United States		133,936		—
Total ELEVIDYS product revenue, net	$	133,936	$	—
Total product revenues, net	$	359,484	$	231,495

Schedule of Product revenue Concentration risks

The following table summarizes the Company's net product revenues, by customer, for those customers that exceeded 10% for the periods indicated:

	For the Three Months Ended March 31,
	2024			2023
Product revenues, net
Customer 1		36	%		49	%
Customer 2		20	%		32	%

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, 2023	$	27,486		$	98,194		$	3,831		$	35,261		$	164,772
Provision		20,466			35,951			4,381			18,965			79,763
Adjustments relating to prior periods		783			(2,532	)		—			—			(1,749	)
Payments/credits		(30,358	)		(36,623	)		(3,685	)		(16,220	)		(86,886	)
Balance, as of March 31, 2024	$	18,377		$	94,990		$	4,527		$	38,006		$	155,900

	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		2,827			30,488			3,572			14,567			51,454
Adjustments relating to prior periods		—			(2,162	)		—			—			(2,162	)
Payments/credits		(3,244	)		(28,025	)		(3,389	)		(14,040	)		(48,698	)
Balance, as of March 31, 2023	$	—		$	67,794		$	3,526		$	23,972		$	95,292

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 March 31, 2024		As of December 31, 2023
	(in thousands)
Reduction to accounts receivable	$	58,684	$	64,697
Component of accrued expenses		97,216		100,075
Total reserves	$	155,900	$	164,772