Quarterly report pursuant to Section 13 or 15(d)

REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS

v3.22.2
REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS
 6 Months Ended
Jun. 30, 2022
REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS  
REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS

NOTE 18. REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS

Disaggregation of Net Revenues

The Company’s net product revenues are summarized as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three-Month Periods Ended

    

Six-Month Periods Ended

​

​

June 30, 

​

June 30, 

($ in thousands)

    

2022

    

2021

    

2022

    

2021

Qbrexza®

​

$

6,111

​

$

4,568

​

$

13,487

​

$

4,568

Accutane®

​

 

5,200

​

 

1,945

​

 

10,107

​

 

2,141

Amzeeq

​

​

1,265

​

​

—

​

​

4,731

​

​

—

Targadox®

​

​

2,756

​

​

5,727

​

​

5,390

​

​

12,926

Ximino®

​

​

1,035

​

​

1,312

​

​

2,002

​

​

3,413

Zilxi

​

​

555

​

​

—

​

​

1,297

​

​

—

Exelderm®

​

 

1,313

​

 

1,736

​

 

2,017

​

 

2,953

Other branded revenue

​

 

—

​

 

—

​

 

—

​

 

6

Total product revenues

​

$

18,235

​

$

15,288

​

$

39,031

​

$

26,007

​

The above table includes the authorized generic product within the line items for Targadox®, Ximino® and Exelderm®.

Significant Customers

For the three and six-month periods ended June 30, 2022 and 2021, there were no customers that accounted for more than 10% of the Company’s total gross product revenue.

At June 30, 2022, two of the Company’s customers accounted for more than 10% of its total accounts receivable balance at 16% and 11%. At December 31, 2021, two of the Company’s customers accounted for more than 10% of its total accounts receivable balance at 16% and 13%.

Other Revenue

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three-Month Periods Ended

 

Three-Month Periods Ended

​

​

June 30, 

 

June 30, 

($ in thousands)

    

2022

    

2021

    

2022

    

2021

Other revenue

 

​

56

 

​

—

​

​

2,556

 

​

—

Total other revenue

​

$

56

​

$

—

​

$

2,556

​

$

—

​

Other revenue for the three-month period ended June 30, 2022 reflects a net $55,514 royalty payment from the Company’s exclusive out-licensing partner in Japan, Maruho Co., Ltd (“Maruho”) for sales of Rapifort® Wipes 2.5% (Japanese equivalent to U.S. FDA approved Qbrexza®), for the treatment of primary axillary hyperhidrosis.

Other revenue for the six-month period ended June 30, 2022 includes a net $2.5 million milestone payment from the Company’s exclusive out-licensing partner in Japan, Maruho Co., Ltd (“Maruho”). In January 2022, Maruho received manufacturing and marketing approval in Japan for Rapifort® Wipes 2.5%, triggering the net payment. The net payment reflects a milestone payment of $10.0 million to the Company from Maruho, offset by a $7.5 million payment to Dermira, Inc., pursuant to the terms of the Qbrexza Agreement between the Company and Dermira.