INVENTORY |
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||
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| INVENTORY | NOTE 5. INVENTORY As of June 30, 2026, and December 31, 2025, inventory consists of the following (in thousands):
Inventory includes $15.7 million for excess and obsolescence reserves recorded as of June 30, 2026, such reserve being primarily related to excess Proleukin® inventory resulting from a manufacturer contract inherited in the Acquisition for which we cannot yet fully utilize the required purchase quantities while we scale the Amtagvi® commercial launch. Inventory expected to be used or sold more than twelve months from the balance sheet date is classified as long-term other assets on the condensed consolidated balance sheet. The Company recorded $6.2 million and $7.9 million of inventory as long-term other assets as of June 30, 2026, and December 31, 2025, respectively. |