Composition of Certain Balance Sheet Items

12 Months Ended

Dec. 31, 2019

Balance Sheet Related Disclosures [Abstract]

Composition of Certain Balance Sheet Items

Composition of Certain Balance Sheet Items

Inventory

	Year Ended December 31,
	2019			2018
	(in thousands)
Raw materials	$	1,389		$	4,195
Work in progress	10,086			5,624
Finished goods	5,930			6,423
Total inventory	17,405			16,242
Less strategic inventory classified as non-current	(11,981		)	(11,510		)
Total inventory classified as current	$	5,424		$	4,732

Because we rely on a single manufacturer for the active pharmaceutical ingredient (“API”) for Korlym, we have purchased and hold significant quantities of API. We classify inventory we do not expect to sell within 12 months of the balance sheet date as “Strategic Inventory,” a long-term asset.

Property and Equipment

	Year Ended December 31,
	2019			2018
	(in thousands)
Furniture and equipment	$	304		$	361
Software	1,541			884
Leasehold improvements	533			35
	2,378			1,280
Less accumulated depreciation	(1,328		)	(625		)
	$	1,050		$	655

Accrued and other liabilities

	Year Ended December 31,
	2019		2018
	(in thousands)
Government rebates	$	8,209	$	11,132
Accrued compensation	12,331		7,879
Legal fees	1,087		314
Income taxes payable	472		1,542
Accrued selling and marketing costs	491		261
Professional fees	367		240
Accrued manufacturing costs	33		2,032
Other	279		386
Total accrued and other liabilities	$	23,269	$	23,786

Other assets

Other assets includes $3.3 million of deposits for clinical trials.