Inventory

6 Months Ended

Jun. 30, 2022

Inventory consisted of the following:


(in thousands)	June 30, 2022		December 31, 2021
Raw materials	$	16,098	$	15,505
Work in process	10,204		13,042
Finished goods	7,656		6,582
Total inventory	$	33,958	$	35,129

Inventory costs associated with products that have not yet received regulatory approval are capitalized if the Company believes there is probable future commercial use of the product and future economic benefit of the asset. If future commercial use of the product is not probable, then inventory costs associated with such product are expensed during the period the costs are incurred. As of December 31, 2021, the Company had $6.1 million of such product costs included in inventories related to DEFINITY that had been manufactured through the Company’s in-house manufacturing capabilities. The Company received regulatory approval for the manufacture of DEFINITY at its new in-house manufacturing facility during the first quarter of 2022 and has no inventory pending regulatory approval as of June 30, 2022.