4.       Inventory

Inventory of continuing operations consisted of the following:

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Inventory expected to be sold more than twelve months from the balance sheet date is classified as inventory, non-current on the condensed consolidated balance sheets. As of March 31, 2025 and December 31, 2024, the Company did not have any inventory of continuing operations classified as non-current.

Prepaid manufacturing of $6.9 million as of March 31, 2025 included prepayments to CMOs of $1.1 million for manufacturing services, which the Company expects to be converted into inventory within the next twelve months, and $5.8 million for research and development. Prepaid manufacturing of $6.7 million as of December 31, 2024 included $0.3 million for manufacturing services of the Company’s product and $6.4 million for research and development.