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Inventory
6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Inventory
5. Inventory
The Company's inventory balance consists of the following (in thousands):
As of
June 30, 2024December 31, 2023
Raw materials$24,898 $24,562 
Work-in-process36,494 33,480 
Finished goods28,671 25,206 
$90,063 $83,248 
Inventory is stated at the lower of cost and net realizable value and consists of raw materials, work-in-process and finished goods. The Company has not recorded any significant inventory write-downs. The Company currently uses a limited number of third-party contract manufacturing organizations (CMOs) to produce its inventory.