Inventories, Net

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Inventories, Net

Inventories, Net The Company’s net inventory balance was $38.4 million and $31.6 million as of March 31, 2023 and December 31, 2022, respectively, and mainly consisted of finished goods purchased from Tesaro Inc., now GlaxoSmithKline (“GSK”), for distribution in Hong Kong, from NovoCure Limited (“NovoCure”) for distribution in Hong Kong and mainland China, and from Deciphera Pharmaceuticals, LLC (“Deciphera”) for distribution in Hong Kong, mainland China and Taiwan, as well as finished goods and certain raw materials for ZEJULA and NUZYRA commercialization in mainland China.

The following table presents the Company’s inventories, net ($ in thousands):

	March 31, 2023	December 31, 2022
Finished goods	17,832	12,156
Raw materials	20,521	19,029
Work in Progress	52	436
Inventories, net	38,405	31,621

The Company writes down inventory for any excess or obsolete inventories or when the Company believes that the net realizable value of inventories is less than the carrying value. The Company recorded write-downs in cost of sales of $0.4 million and $0.1 million for the first quarter of 2023 and 2022, respectively.