INVENTORIES

12 Months Ended

Dec. 31, 2023

INVENTORIES [Abstract]

INVENTORIES

3. INVENTORIES

The following table provides the components of inventories:

	December 31, 2023		December 31, 2022
	(In thousands)
Raw materials	$	52,999	$	48,644
Work-in-process		49,621		56,171
Finished goods		70,286		58,465
Total inventories	$	172,906	$	163,280

Raw materials includes plasma and other materials expected to be used in the production of ASCENIV, BIVIGAM and Nabi-HB. These materials will be consumed in the production of products expected to be available for sale or otherwise have alternative uses that provide a probable future benefit. All other activities and materials associated with the production of inventories used in research and development activities are expensed as incurred.

Work-in-process inventory primarily consists of the Company’s IVIG products that are manufactured to the bulk drug substance and unlabeled filled vials stage of production.

Finished goods inventory is comprised of the Company’s immunoglobulin products that have reached the filled, labeled and serialized vial stage of production and related intermediates that are available for commercial sale, as well as plasma collected at the Company’s plasma collection centers which is expected to be sold to third-party customers.