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PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT:

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

 

 

 

March 31, 2025

 

 

December 31, 2024

 

Land

 

$

12,230

 

 

$

12,230

 

Building and improvements

 

 

134,081

 

 

 

131,288

 

Office and lab equipment

 

 

166,004

 

 

 

159,448

 

Furniture, fixtures and computer related assets

 

 

16,135

 

 

 

16,858

 

Construction-in-progress

 

 

35,923

 

 

 

45,292

 

 

 

 

364,373

 

 

 

365,116

 

Less: Accumulated depreciation

 

 

(168,110

)

 

 

(169,877

)

Property and equipment, net

 

$

196,263

 

 

$

195,239

 

Depreciation expense was $6.5 million and $6.6 million for the three months ended March 31, 2025 and 2024, respectively.