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Inventory
 6 Months Ended
Jun. 30, 2013
Inventory
4. Inventory

All of the Company’s inventories relate to the manufacturing of Iclusig. The following table sets forth the Company’s inventories as of June 30, 2013 and December 31, 2012:

 

In thousands    June 30,
2013		      December 31,
2012		  

Raw materials

    $ 1,331       $ —     

Work in process

      1,415         —     

Finished goods

      437         6   
  

 

 

     

 

 

  

Total

    $ 3,183       $ 6   
  

 

 

     

 

 

  

Current portion

    $ 716       $ 6   
  

 

 

     

 

 

  

Non-current portion included in Other assets, net

    $ 2,467       $ —     
  

 

 

     

 

 

  

 

Upon approval of Iclusig by the FDA on December 14, 2012, the Company began capitalizing inventory costs for Iclusig manufactured in preparation for the product launch in the United States. In periods prior to December 14, 2012, the Company expensed costs associated with Iclusig, including raw materials, work in process and finished goods, as development expenses. The Company has not capitalized inventory costs related to its other drug development programs. Non-current inventory consists primarily of raw materials and work-in-process which were purchased or manufactured in order to provide adequate supply of Iclusig in the United States and Europe and to support continued clinical development.