Note 2 - Revenues

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

(2) REVENUES:

The Company operates in one business segment, which primarily focuses on the development and commercialization of innovative cyclodextrin-based products for the treatment of people with serious and life threatening rare diseases and medical conditions. However, substantially all of the Company’s revenues are derived from the sale of cyclodextrins and related products to the pharmaceutical, nutritional, and other industries, primarily for use in diagnostics and specialty drugs. Currently, a small portion of the Company’s revenues is generated by sales of Trappsol® Cyclo™ to South America (Brazil) for the treatment of NPC patients.

The Company considers there to be revenue concentration risks for regions where net product revenues exceed 10% of consolidated net product revenues. The concentration of the Company’s net product revenues within the regions below may have a material adverse effect on the Company’s revenues and results of operations if sales in the respective regions experience difficulties.

Revenues by product are summarized as follows:

	Year Ended
	December 31,
	2022		2021
Trappsol® Cyclo™	$	5,118	$	2,245
Trappsol® HPB		851,756		673,916
Trappsol® Fine Chemical		501,295		714,662
Aquaplex®		5,460		185,004
Other		12,131		9,929
Total revenues	$	1,375,760	$	1,585,756

Substantially all of our sales of Trappsol® Cyclo™ for the years ended December 31, 2022 and 2021 were to a single customer who exports the drug to South America. Substantially all of our Aquaplex® sales are to one customer.