Annual report pursuant to Section 13 and 15(d)

Inventory

v3.7.0.1
Inventory
12 Months Ended
Dec. 31, 2016
Inventory Disclosure [Abstract]  
Inventory

The components of net inventory at December 31, 2016 and 2015, net of reserves of $0 and $345,000, respectively, are as follows:

 

    2016   2015
Materials   $ 658,650     $ 330,000  
Work-in-process     616,522       392,457  
Finished goods     195,654       275,168  
Reserves     —         (344,719 )
    $ 1,470,826     $ 652,906  

 

During 2016 and 2015, we utilized $131,000 and $446,000, respectively, of Tc 99m tilmanocept inventory for clinical study and product development purposes. Also during 2016 and 2015, we recorded obsolescence reserves of $43,000 and $52,000 of Tc 99m tilmanocept inventory related to specific lots that expired or were nearing product expiry and therefore were no longer expected to be sold. During 2016 and 2015, we wrote off $0 and $120,000, respectively, of materials related to production issues.