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PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT:

Property and equipment, net consist of the following (in thousands):

 

 

 

September 30, 2024

 

 

December 31, 2023

 

Land

 

$

12,230

 

 

$

12,230

 

Building and improvements

 

 

140,258

 

 

 

116,903

 

Office and lab equipment

 

 

150,752

 

 

 

148,465

 

Furniture, fixtures and computer related assets

 

 

17,786

 

 

 

18,970

 

Construction-in-progress

 

 

29,161

 

 

 

22,490

 

 

 

 

350,187

 

 

 

319,058

 

Less: Accumulated depreciation

 

 

(158,992

)

 

 

(143,908

)

Property and equipment, net

 

$

191,195

 

 

$

175,150

 

Depreciation expense was $6.4 million and $6.9 million for the three months ended September 30, 2024 and 2023, respectively, and $19.5 million and $20.1 million for the nine months ended September 30, 2024 and 2023, respectively.