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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT:

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

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Land

 

$

12,230

 

 

$

12,230

 

Building and improvements

 

 

134,590

 

 

 

131,288

 

Office and lab equipment

 

 

169,602

 

 

 

159,448

 

Furniture, fixtures and computer related assets

 

 

16,157

 

 

 

16,858

 

Construction-in-progress

 

 

47,415

 

 

 

45,292

 

 

 

 

379,994

 

 

 

365,116

 

Less: Accumulated depreciation

 

 

(174,863

)

 

 

(169,877

)

Property and equipment, net

 

$

205,131

 

 

$

195,239

 

Depreciation expense was $6.9 million and $6.5 million for the three months ended June 30, 2025 and 2024, respectively, and $13.4 million and $13.1 million for the six months ended June 30, 2025 and 2024, respectively.