Quarterly report pursuant to Section 13 or 15(d)

6. INVENTORIES

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6. INVENTORIES
6 Months Ended
Jun. 30, 2017
Inventories Abstract  
6. INVENTORIES

The following table provides the components of inventories:

 

    June, 30
2017
  December 31
2016
         
Raw materials   $ 9,376,705     $ 5,020,146  
Finished goods     3,774,028       —    
Total inventories   $ 13,150,733     $ 5,020,146  

 

Inventories are stated at the lower of cost or market with cost being determined on the first-in, first-out method. Finished goods inventories as of June 30, 2017 is comprised of Nabi-HB®, recorded at fair value as part of the purchase price allocation of the Biotest Assets acquired. All activities associated with the production of inventories used in research and development activities are expensed as incurred.