Inventory

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Inventory

Inventory

As of September 30, 2022 and December 31, 2021, the Company's inventory balance consists of the following (in thousands):

	September 30, 2022		December 31, 2021
Raw materials	$	29,557	$	29,541
Work-in-process	18,763		18,528
Finished goods	17,956		18,940
	$	66,276	$	67,009

Inventory is stated at the lower of cost and net realizable value and consists of raw materials, work-in-process and finished goods. The Company began capitalizing inventory costs following FDA approval of ARIKAYCE in September 2018. The Company has not recorded any significant inventory write-downs since that time. The Company currently uses a limited number of third-party contract manufacturing organizations (CMOs) to produce its inventory.