Inventory

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventory

8. Inventory

The composition of the inventory is as follows (in thousands):

	As of
	June 30, 2024		December 31, 2023
Raw materials	$	2,760	$	3,683
Work in process		433		878
Finished goods		3,516		1,035
Total inventory	$	6,709	$	5,596

The Company values its inventories to reflect the lower of cost or net realizable value. Charges for estimated excess and obsolescence are recorded in Cost of sales in the Consolidated Statements of Operations and were $151,000 and $2,000 for the three-months ended June 30, 2024 and 2023, respectively, and $234,000 and $68,000 for the six-months ended June 30, 2024 and 2023, respectively. The inventory balance as of June 30, 2024, includes inventory purchased from Stedical for the sales of PermeaDerm.