ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT SALES

12 Months Ended

Dec. 31, 2018

Receivables Net Current [Abstract]

ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT SALES

7. ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT SALES

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

	As of December 31,
	2018		2017
	(in thousands)
Product sales, net of discounts and allowances	$	48,252	$	28,539
Government contract receivables		792		929
Total accounts receivable, net	$	49,044	$	29,468

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 decrease in government contract receivables is related to contract finalization and subsequent collection of the EU SKIP-NMD Agreement related to the Company’s exon 53 product candidate.

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, 2017	$	995		$	6,959		$	169		$	464		$	8,587
Provision		12,284			28,420			2,624			5,286			48,614
Payments/credits		(11,901	)		(11,103	)		(2,255	)		(3,432	)		(28,691	)
Balance, as of December 31, 2018	$	1,378		$	24,276		$	538		$	2,318		$	28,510

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

	As of December 31,
	2018		2017
	(in thousands)
Reduction to accounts receivable	$	2,364	$	1,285
Component of accrued expenses		26,146		7,302
Total reserves	$	28,510	$	8,587