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Inventory
3 Months Ended
Mar. 31, 2024
Inventory Disclosure [Abstract]  
Inventory Inventory
Components of inventory, net of reserves, as of March 31, 2024 and December 31, 2023 are as follows (table in thousands):
March 31,
2024
December 31,
2023
Inventory - Current Portion
Raw Materials$2,024 $2,250 
Work in Process241 351 
Finished Goods3,808 3,270 
Total Current Inventory6,073 5,871 
Inventory - Long Term (1)
178 178 
Total Inventory$6,251 $6,049 
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1.Represents inventory related to Triferic raw materials, which is expected to be utilized for the Company's international partnerships, net of a reserve of $1.1 million related to the termination of the development of Triferic in Wanbang in 2023 as a result of the failure to demonstrate efficacy when compared with a placebo in its phase III clinical studies.
As of March 31, 2024 and December 31, 2023, Rockwell had total current concentrate inventory aggregating $6.1 million and $5.9 million, respectively, against which Rockwell had reserved $25,000 at each of March 31, 2024 and December 31, 2023, respectively.