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Inventory

9 Months Ended

Sep. 30, 2013

5. INVENTORY

Costs associated with the manufacture of KALBITOR prior to regulatory approval were expensed when incurred, and therefore were not capitalized as inventory. Subsequent to FDA approval, all costs associated with the manufacture of KALBITOR have been recorded as inventory.

Inventory on-hand that will be sold beyond the Company's normal operating cycle is classified as non-current and grouped with Other Assets on the Company's balance sheet. As of September 30, 2013 and December 31, 2012, approximately $5.6 million and $5.9 million of inventory, respectively, is classified as non-current.

Inventory consists of the following (in thousands):

	September 30, 2013		December 31, 2012
Raw Materials	$	1,116	$	1,116
Work in Progress		5,930		8,274
Finished Goods		1,618		599
Total	$	8,664	$	9,989

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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