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v3.25.3

Property and Equipment, Net | 9 Months Ended
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Sep. 30, 2025
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | 3. P roperty and equipment, net Property and equipment consist of the following (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Leasehold improvements |  | $ | 102,248 |  |  | $ | 101,195 |
Lab equipment |  |  | 76,400 |  |  |  | 71,788 |
Furniture and fixtures |  |  | 4,836 |  |  |  | 4,836 |
Computer equipment |  |  | 3,170 |  |  |  | 3,170 |
Construction in process |  |  | 10,237 |  |  |  | 2,530 |
Total property and equipment |  |  | 196,891 |  |  |  | 183,519 |
Less accumulated depreciation |  |  | (88,601 | ) |  |  | (72,107 | )
Property and equipment, net |  | $ | 108,290 |  |  | $ | 111,412 |
The following table summarizes depreciation expense incurred (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Depreciation expense |  | $ | 5,560 |  |  | $ | 5,475 |  |  | $ | 16,626 |  |  | $ | 16,482 |

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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