Annual report pursuant to Section 13 and 15(d)

INVENTORIES

v3.21.1
INVENTORIES
12 Months Ended
Dec. 31, 2020
INVENTORIES  
4. INVENTORIES

4. INVENTORIES

 

The following table provides the components of inventories:

 

 

 

 

December 31,
2020

 

 

December 31,
2019

 

 

 

 

 

 

 

 

Raw materials

 

$ 32,044,393

 

 

$ 33,381,806

 

Work-in-process

 

 

30,293,288

 

 

 

14,455,665

 

Finished goods

 

 

19,197,918

 

 

 

5,227,263

 

Total inventories

 

$ 81,535,599

 

 

$ 53,064,734

 

   

Raw materials includes plasma and other materials expected to be used in the production of BIVIGAM, ASCENIV and Nabi-HB, as there are alternative uses for these materials that provide a probable future benefit or will be consumed in the production of goods expected to be available for sale. All other activities and materials associated with the production of inventories used in research and development activities are expensed as incurred.

 

Work-in-process inventory primarily consists of bulk drug substance and unlabeled filled vials of the Company’s immunoglobulin products. Finished goods inventory is comprised of immunoglobulin product inventory and related intermediates that are available for commercial sale, as well as plasma collected at the Company’s plasma collection center which is expected to be sold to third-party customers.