Inventory, net

12 Months Ended

Dec. 31, 2023

Inventory, net

Inventory, net

5. Inventory, net

Inventories consist of the following:

	December 31, 2023		December 31, 2022
Raw materials	$	2,639	$	1,918
Work-in-process		708		499
		3,347		2,417
Less Inventory Reserve for Obsolescence		(526)		(34)
Total	$	2,821	$	2,383

As of December 31, 2023 and December 31, 2022, inventory balances include inventory costs subsequent to regulatory approval of KORSUVA injection on August 23, 2021. During the years ended December 31, 2023 and 2022,

the Company wrote down $526 and $34, respectively, of commercial supply inventory due to obsolescence. There were no write-downs of commercial supply inventory during the year ended December 31, 2021.