Product revenue, net relates to sales of KRAZATI, which received approval by the FDA and launched commercially in the U.S. in December 2022. Product revenue, net for the three and nine months ended September 30, 2023 was $16.4 million and $36.1 million, respectively. During the three and nine months ended September 30, 2023, $1.3 million and $3.0 million, respectively, of product revenue, net relates to sales of KRAZATI to a third-party commercial customer for its clinical trials. There was no product revenue for the three and nine months ended September 30, 2022.
License and collaboration revenues relate to the Zai Agreement under which Zai was granted an exclusive license to develop, manufacture and commercialize adagrasib in the Zai Licensed Territory, and the BeiGene Agreement under which BeiGene was granted an exclusive license to develop, manufacture and commercialize sitravatinib in the BeiGene Licensed Territory.
The Company earned zero and $1.2 million of license and collaboration revenue during the three and nine months ended September 30, 2023, respectively, related to clinical supply revenue under the Zai Agreement. The Company earned $5.0 million and $10.0 million in milestone payments under the Zai Agreement for the three and nine months ended September 30, 2022, respectively, and earned $0.3 million and $1.4 million related to clinical supply revenue under the Zai Agreement for the three and nine months ended September 30, 2022, respectively.
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