Property and Equipment, Net

6 Months Ended

Jun. 30, 2025

3. Property and equipment, net

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


	June 30, 2025			December 31, 2024
Leasehold improvements	$	101,711		$	101,195
Lab equipment		74,763			71,788
Furniture and fixtures		4,836			4,836
Computer equipment		3,170			3,170
Construction in process		7,517			2,530
Total property and equipment		191,997			183,519
Less accumulated depreciation		(83,173	)		(72,107	)
Property and equipment, net	$	108,824		$	111,412

The following table summarizes depreciation expense incurred (in thousands):