3. Inventories

Inventories consist of the following (in thousands):

	December 31,
	2017		2016
Raw materials	$	572	$	—
Work-in-process		1,273		2,120
Finished goods		812		211
Total inventory	$	2,657	$	2,331

Work-in-process and finished goods as of December 31, 2017 and 2016 include conversion costs but not materials cost because the materials used in its production were previously written off. During the years ended December 31, 2017 and 2015, the Company recorded a write-down of inventory of approximately $3.0 million and $36.1 million, respectively, for inventory that was forecasted to become obsolete due to expiration which is recorded in costs of goods sold in the accompanying consolidated statements of operations. There was no write-down of inventory for the year ended December 31, 2016.