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Inventory

12 Months Ended

Dec. 31, 2022

4.Inventory

Inventory consisted of the following:


	December 31,
(in thousands)	2022		2021
Raw materials	$	10,262	$	4,870
Work in process		86,712		65,117
Finished goods		18,077		23,265
Total	$	115,051	$	93,252

The Company began capitalizing YUSIMRY inventory in the second quarter of 2022 and had $23.7 million of such inventory recognized in the consolidated balance sheets at December 31, 2022. Inventory expected to be sold more than twelve months from the balance sheet date is classified as inventory, non-current in the consolidated balance sheets. As of December 31, 2022 and 2021, the non-current portion of inventory consisted of raw materials, work in process and a portion of finished goods. The following table presents the inventory balance sheet classifications:


	December 31,
(in thousands)	2022		2021
Inventory	$	38,791	$	37,642
Inventory, non-current		76,260		55,610
Total	$	115,051	$	93,252

Prepaid manufacturing of $17.9 million as of December 31, 2022 includes prepayments of $13.0 million to CMOs for manufacturing services of the Company’s products, which the Company expects to be converted into inventory during 2023; and prepayments of $4.9 million to various CMOs for research and development pipeline programs. Prepaid manufacturing of $13.7 million as of December 31, 2021 includes prepayments of $8.3 million to a CMO for manufacturing services for UDENYCA; and prepayments of $5.4 million to various CMOs for other research and development pipeline programs.

In February 2021, the Company announced the discontinuation of the development of CHS-2020, a biosimilar of Eylea as part of a realignment of research and development resources toward other development programs. As a result, the Company recognized $11.2 million within research and development expense in the consolidated statement of operations in 2021, which included an impairment charge of $3.2 million for the write-off of prepaid manufacturing services no longer deemed to have future benefits. No material expense relating to the discontinuation of CHS-2020 was recognized after March 31, 2021.