Inventory

12 Months Ended

Dec. 31, 2023

All of the Company's inventory relates to the manufacturing of MARGENZA. The following table sets forth the Company's inventory, net of reserves (in thousands):


	December 31,
	2023		2022

Work in process	$	261	$	409
Finished goods	960		1,042
Total inventory, net	$	1,221	$	1,451

Prior to FDA approval of MARGENZA in December 2020, the cost of materials and expenses associated with the manufacturing of MARGENZA were recorded as research and development expense. Subsequent to FDA approval, the Company began capitalizing inventory costs related to the manufacture of MARGENZA. The inventory balance as of December 31, 2023 and December 31, 2022 is net of a reserve of $3.1 million and $4.9 million, respectively, for unsaleable inventory. These reserves are reflected in cost of product sales during the period they are recorded.


	Inventory Reserves (in thousands)
	Balance at Beginning of Year		Additions Charged to Expenses		Deductions		Balance at End of Year
Year Ended December 31, 2023	$	4,917	$	—	$	(1,798)	$	3,119
Year Ended December 31, 2022	$	2,035	$	2,882	$	—	$	4,917
Year Ended December 31, 2021	$	—	$	2,035	$	—	$	2,035