Quarterly report pursuant to Section 13 or 15(d)

INVENTORY

v3.21.2
INVENTORY
9 Months Ended
Sep. 30, 2021
INVENTORY  
INVENTORY

NOTE 3. INVENTORY

The Company’s inventory consists of the following:

    

September 30, 

    

December 31, 

($in thousands)

2021

2020

Raw materials

$

5,453

$

Work-in-process

 

 

Finished goods

 

6,161

 

1,404

Total inventories

$

11,614

$

1,404

The acquired Qbrezxa finished goods inventory includes a fair value step-up of $6.5 million, which will be expensed within cost of sales, as the inventory is sold to customers. All of the step-up finished goods inventory is expected to be sold in 2021. For additional information on the Company’s acquisition of Qbrexza, please refer to Note 5.