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Inventory
6 Months Ended
Jun. 30, 2019
Inventory Disclosure [Abstract]  
Inventory

6. Inventory

Inventory consisted of the following as of June 30, 2019 and December 31, 2018:

 

(In thousands)

 

June 30,

2019

 

 

December 31,

2018

 

Raw materials

 

$

2,541

 

 

$

2,367

 

Work in process

 

 

6,625

 

 

 

3,553

 

Finished goods

 

 

3,704

 

 

 

1,717

 

Total inventories

 

$

12,870

 

 

$

7,637

 

 

Finished goods manufactured by the Company have a shelf life of approximately 24 months from the date of manufacture.

 

The Company reduces its inventory to net realizable value for potentially excess, dated or obsolete inventory based on an analysis of forecasted demand compared to quantities on hand and any firm purchase orders, as well as product shelf life. As of June 30, 2019, the Company determined that no write-downs to inventory for potentially excess, dated or obsolete inventory were required.