Composition of Certain Balance Sheet Items
12 Months Ended
Dec. 31, 2015
Composition of Certain Balance Sheet Items [Abstract]  
Composition of Certain Balance Sheet Items

4. Composition of Certain Balance Sheet Items

 

Inventory

 

The composition of inventory was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

2015

 

2014

 

 

(in thousands)

Finished goods

 

$

2,338 

 

$

1,687 

Raw materials

 

 

2,141 

 

 

3,595 

Work in progress

 

 

 

 

15 

Total inventory

 

 

4,482 

 

 

5,297 

Less strategic inventory classified as non-current

 

 

(2,800)

 

 

(4,090)

Total inventory classified as current

 

$

1,682 

 

$

1,207 

 

In order to be prepared for potential demand for Korlym and because we have single-source manufacturers of both the API for Korlym and Korlym tablets, we have invested in inventory of both of these materials. Inventory amounts that are not expected to be consumed within 12 months following the balance sheet date are referred to as “Strategic Inventory” and classified as a noncurrent asset.

 

Property and Equipment

 

Property and equipment consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

2015

 

2014

 

 

(in thousands)

Furniture and equipment

 

$

270 

 

$

253 

Vehicles

 

 

 —

 

 

65 

Software

 

 

193 

 

 

193 

Leasehold improvements

 

 

 —

 

 

14 

 

 

 

463 

 

 

525 

Less: accumulated depreciation

 

 

(365)

 

 

(289)

 

 

$

98 

 

$

236 

 

Other Accrued Liabilities

 

Other accrued liabilities consisted of the following: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

2015

 

2014

 

 

(in thousands)

Government rebates

 

$

1,663 

 

$

275 

Accrued compensation

 

 

1,103 

 

 

564 

Commercialization costs

 

 

111 

 

 

556 

Professional fees

 

 

220 

 

 

330 

Legal fees

 

 

69 

 

 

120 

Other

 

 

91 

 

 

31 

 

 

$

3,257 

 

$

1,876