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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2026
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT:

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

 

 

 

June 30, 2026

 

 

December 31, 2025

 

Land

 

$

12,230

 

 

$

12,230

 

Building and improvements

 

 

173,886

 

 

 

166,250

 

Office and lab equipment

 

 

191,568

 

 

 

180,473

 

Furniture, fixtures and computer related assets

 

 

17,005

 

 

 

16,875

 

Construction-in-progress

 

 

19,558

 

 

 

28,445

 

 

 

 

414,247

 

 

 

404,273

 

Less: Accumulated depreciation

 

 

(204,594

)

 

 

(189,326

)

Property and equipment, net

 

$

209,653

 

 

$

214,947

 

Depreciation expense was $7.8 million and $6.9 million for the three months ended June 30, 2026 and 2025, respectively, and $15.4 million and $13.4 million for the six months ended June 30, 2026 and 2025, respectively.