Inventory

Inventories consist of raw materials and work-in-process intended for use in the manufacture of LAVIV. Raw materials may be used for clinical trials and are charged to research and development expense when consumed.

Inventories consisted of the following as of:



($ in thousands)	December 31, 2015		December 31, 2014
Raw materials (LAVIV and product candidates)	$	338	$	357
Work-in-process (LAVIV)	144		214
Total inventory	$	482	$	571

The Company determined that no reserve for expiration was needed at December 31, 2015 or December 31, 2014. No inventory expiration/obsolescence expense was recognized during the years ended December 31, 2015, 2014 or 2013.