Composition of Certain Balance Sheet Items

12 Months Ended

Dec. 31, 2020

Balance Sheet Related Disclosures [Abstract]

Composition of Certain Balance Sheet Items

Composition of Certain Balance Sheet Items

Inventory

	Year Ended December 31,
	2020		2019
	(in thousands)
Raw materials	$	1,685	$	1,389
Work in progress	12,916		10,086
Finished goods	6,556		5,930
Total inventory	21,157		17,405
Less strategic inventory classified as non-current	(16,247)		(11,981)
Total inventory classified as current	$	4,910	$	5,424

Because we rely on a single manufacturer for the API for Korlym, we have purchased and hold significant quantities of API. We classify inventory we do not expect to sell within 12 months of the balance sheet date as “Strategic Inventory,” a long-term asset.

Property and Equipment

	Year Ended December 31,
	2020		2019
	(in thousands)
Furniture and equipment	$	810	$	304
Software	1,485		1,541
Leasehold improvements	1,233		533
	3,528		2,378
Less accumulated depreciation	(1,853)		(1,328)
Property and equipment, net of accumulated depreciation	$	1,675	$	1,050

Accrued and other liabilities

	Year Ended December 31,
	2020		2019
	(in thousands)
Accrued compensation	$	10,144	$	12,331
Government rebates	9,412		8,209
Accrued selling and marketing costs	665		491
Legal fees	612		1,087
Professional fees	151		367
Other	202		784
Total accrued and other liabilities	$	21,186	$	23,269

    Other assets

    As of December 31, 2020 and 2019, other assets includes $4.8 million and $3.3 million of deposits for clinical trials, respectively.