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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | Leases The Company has operating leases for office and manufacturing facilities in the U.S., Switzerland, and China. The leases have remaining lease terms of up to six years, some of which include options to extend the leases that have not been included in the calculation of the Company’s lease liabilities and ROU assets. The Company has land use rights, which represent land acquired for the biologics manufacturing facility in Guangzhou, the land acquired for the Company’s research, development and office facility in Changping, Beijing, the land acquired for the Company’s research, development and manufacturing facility in Suzhou, and the land acquired for the Company’s research and development facility in Shanghai. The Company also has certain leases with terms of 12 months or less for certain equipment, office and lab space, which are expensed and not recorded on the balance sheet. The components of lease expense were as follows:
| Year Ended December 31,
| 2024 |  |  |  | 2023 |  | 2022
| $ |  |  |  | $ |  | $
Operating lease cost | 26,575 |  |  |  |  | 25,978 |  |  | 25,938 |
Variable lease cost | 4,580 |  |  |  |  | 6,101 |  |  | 6,834 |
Short-term lease cost | 2,897 |  |  |  |  | 1,683 |  |  | 1,299 |
Total lease cost | 34,052 |  |  |  |  | 33,762 |  |  | 34,071 |
Supplemental balance sheet information related to leases was as follows:
| As of December 31,
| 2024 |  | 2023
| $ |  | $
Operating lease right-of-use assets | 60,639 |  |  | 43,490 |
Land use rights, net | 78,670 |  |  | 51,717 |
Total operating lease right-of-use assets | 139,309 |  |  | 95,207 |
Current portion of operating lease liabilities | 17,576 |  |  | 21,950 |
Operating lease liabilities, non-current portion | 44,277 |  |  | 22,251 |
Total lease liabilities | 61,853 |  |  | 44,201 |
Maturities of operating lease liabilities are as follows:
|  | Amounts
|  | $
Year ending December 31, 2025 |  | 19,824 |
Year ending December 31, 2026 |  | 13,279 |
Year ending December 31, 2027 |  | 12,583 |
Year ending December 31, 2028 |  | 11,738 |
Year ending December 31, 2029 |  | 7,188 |
Thereafter |  | 3,922 |
Total lease payments |  | 68,534 |
Less imputed interest |  | (6,681) |
Present value of lease liabilities |  | 61,853 |
Other supplemental information related to leases is summarized below:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
| $ |  | $ |  | $
Operating cash flows used in operating leases | 56,005 |  |  | 27,985 |  |  | 28,064 |
ROU assets obtained in exchange for new operating lease liabilities | 47,066 |  |  | 11,854 |  |  | 22,278 |
| As of December 31,
| 2024 |  | 2023
Weighted-average remaining lease term (years) | 4 |  | 3
Weighted-average discount rate | 5.23 | % |  | 7.22 | %

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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