Note 3 - Revenues

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

(3) 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.

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:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
		-				-
Trappsol® HPB	$	342,184	$	337,474	$	485,412	$	759,079
Trappsol® Fine Chemical		152,135		113,394		267,338		422,418
Aquaplex®		60		-		9,922		816
Other		1,098		1,299		2,334		6,644
Total revenues	$	495,477	$	452,167	$	765,006	$	1,188,957

Substantially all of our Aquaplex® sales for the three and nine months ended September 30, 2023 and 2022 were to one and three customers, respectively.