Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and equipment consist of the following:


	December 31,
(in thousands)	2023		2022
Leasehold improvements	$	28,032	$	24,162
Research equipment	16,220		16,345
Computer equipment	4,934		4,486
Construction in progress	3,810		4,160
Furniture and fixtures	2,928		2,734
Computer software	1,106		1,106
Vehicles	66		66
Gross property and equipment	57,096		53,059
Less accumulated depreciation	(25,429)		(22,281)
Net property and equipment	$	31,667	$	30,778

For both the years ended December 31, 2023 and 2022, depreciation expense was $4.8 million. Additionally, during the year ended December 31, 2022, in connection with the strategic deprioritization of its gene therapy portfolio, the Company performed an assessment of its fixed assets. As a result, the Company recognized an impairment charge of $6.6 million.