Inventory

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventory

Inventory

Components of inventory, net of reserves as of December 31, 2020 and 2019 are as follows (table in thousands):

	December 31, 2020		December 31, 2019
Raw Materials	$	3,112	$	2,471
Work in Process	172		185
Finished Goods	1,805		1,432
Total	$	5,089	$	4,088

As of December 31, 2020 and 2019, we classified $1.2 million and $0.4 million, respectively, of inventory as non-current all of which was related to Triferic or the active pharmaceutical ingredient for Triferic. As of December 31, 2020 and 2019, we had total Triferic inventory aggregating $3.9 million and $3.5 million respectively, against which we had reserved $2.6 million and $2.8 million, respectively.

For the year ended December 31, 2020, the Company’s inventory reserves and write-offs decreased overall by $0.1 million, which consisted primarily of an increase in inventory reserve of $0.3 million offset by a reduction to inventory reserve of $0.4 million related to destruction of Triferic inventory. For the year ended December 31, 2019, inventory reserves and write-offs increased by $1.3 million.

The $1.3 million net value of Triferic inventory consisted of $0.1 million of Triferic (dialysate) finished goods with expiration dates ranging from May 2021 to September 2021, $0.3 million of Triferic API with estimated useful lives extending through 2023, and $890,000 of Triferic raw material with an estimated useful live of 25 years.