INVENTORIES

9 Months Ended

Sep. 30, 2025

INVENTORIES [Abstract]

INVENTORIES

3.

INVENTORIES

The following table provides the components of inventories:

	September 30, 2025		December 31, 2024
	(In thousands)
Raw materials	$	87,836	$	60,473
Work-in-process		44,484		61,641
Finished goods		64,347		48,121
Total inventories, net	$	196,667	$	170,235

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 goods expected to be available for sale or otherwise have alternative uses that provide a probable future benefit.

Work-in-process inventory primarily consists of bulk drug substance and unlabeled filled vials of the Company’s immunoglobulin products.

Finished goods inventory is comprised of immunoglobulin product inventory and related intermediates that are available for commercial sale, as well as plasma collected at the Company’s plasma collection centers that is expected to be sold to third-party customers.