XML 19 R12.htm IDEA: XBRL DOCUMENT v3.25.3
Property and Equipment, Net
9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

3. Property 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