Annual report pursuant to Section 13 and 15(d)

INVENTORIES

v3.24.0.1
INVENTORIES
12 Months Ended
Dec. 31, 2023
INVENTORIES  
INVENTORIES

6. INVENTORIES

The following table summarizes inventories, net (in thousands):

As of December 31,

2023

    

2022

Raw materials

$

4,609

$

4,555

Work in process

1,876

2,659

Finished goods

1,508

1,904

Total

$

7,993

$

9,118

Reported as:

Inventories

$

5,522

$

9,118

Other assets

2,471

Total

$

7,993

$

9,118

Inventories as of December 31, 2023 and 2022 include inventories acquired from Forma pursuant to the license and transition agreement. As of December 31, 2023 and 2022, zero and $0.8 million, respectively, of advance payments to the manufacturer of our raw materials were included within prepaid and other current assets in the balance sheet.

Non-current inventories consist of active pharmaceutical ingredient classified as raw materials which have multi-year shelf life, as well as certain work in process and finished goods inventories that are not expected to be consumed beyond our normal operating cycle.