v3.26.1
Inventories
 6 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
Inventories

4. Inventories

Inventories consisted of the following (in thousands):

 

 

June 30, 2026

 

 

December 31, 2025

 

Raw materials

 

$

25,303

 

 

$

26,815

 

Work in process

 

 

1,036

 

 

 

288

 

Finished goods

 

 

4,395

 

 

 

4,319

 

Total inventories

 

$

30,734

 

 

$

31,422

 

Reported as:

 

 

 

 

 

 

Inventories

 

$

11,689

 

 

$

8,369

 

Inventories, noncurrent

 

 

19,045

 

 

 

23,053

 

Total inventories

 

$

30,734

 

 

$

31,422

 

 

Prior to FDA approval in August 2024, costs incurred for the manufacturing of neffy were recorded as research and development expenses, which upon approval resulted in zero-cost inventory. The Company held $3.1 million and $6.7 million in zero-cost inventory as of June 30, 2026 and December 31, 2025, respectively, none of which was determined to be obsolete as of each period end. The Company expects to fully utilize its zero-cost inventory in future periods.