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Composition of Certain Balance Sheet Items
12 Months Ended
Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]  
Composition of Certain Balance Sheet Items Composition of Certain Balance Sheet Items
Inventory
Year Ended December 31,
20212020
(in thousands)
Raw materials$— $1,685 
Work in progress11,450 12,916 
Finished goods6,500 6,556 
Total inventory17,950 21,157 
Less strategic inventory classified as non-current(12,962)(16,247)
Total inventory classified as current$4,988 $4,910 
Because we rely on a single manufacturer to produce Korlym’s API, we have purchased and hold significant quantities of API, included in work in progress inventory. 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,
20212020
(in thousands)
Furniture and equipment$1,157 $810 
Software1,508 1,485 
Leasehold improvements1,262 1,233 
3,927 3,528 
Less accumulated depreciation(2,925)(1,853)
Property and equipment, net of accumulated depreciation$1,002 $1,675 
Accrued and other liabilities
Year Ended December 31,
20212020
(in thousands)
Accrued compensation$13,339 $10,144 
Government rebates11,174 9,412 
Accrued selling and marketing costs1,351 665 
Legal fees842 612 
Income taxes payable513 — 
Professional fees150 151 
Other296 202 
Total accrued and other liabilities$27,665 $21,186 
    Other assets
    As of December 31, 2021 and 2020, other assets included $2.9 million and $4.8 million of deposits for clinical trials, respectively.