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Inventory
9 Months Ended
Sep. 30, 2014
Inventory Disclosure [Abstract]  
Inventory

Note 3 — Inventory

Inventory consists of the following (in thousands):

 

     September 30,
2014
     December 31,
2013
 

Raw materials

   $ 1,726       $ 3,947   

Work-in-process

     8,313         6,146   

Finished goods

     1,656         3,359   
  

 

 

    

 

 

 

Total inventory

   $ 11,695       $ 13,452   
  

 

 

    

 

 

 

Inventory is generally manufactured upon receipt of firm purchase orders from our collaboration partners. Inventory includes direct materials, direct labor, and manufacturing overhead and cost is determined on a first-in, first-out basis. Inventory is valued at the lower of cost or market and defective or excess inventory is written down to net realizable value based on historical experience or projected usage.