v3.26.1
Balance Sheet Components
 3 Months Ended
Mar. 31, 2026
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components Balance Sheet Components
Inventory
Inventory consisted of the following:
(in thousands)
March 31,
2026		December 31,
2025
Raw materials$15,173 $15,938 
Work-in-process15,115 15,224 
Finished goods12,358 9,313 
Inventory$42,646 $40,475 
Property and Equipment, Net
Property and equipment, net consisted of the following:
(in thousands)
March 31,
2026		December 31,
2025
Building and building improvements$109,256 $109,242 
Manufacturing equipment30,202 29,279 
Leasehold improvements27,227 27,227 
Construction in progress
12,341 8,108 
Laboratory equipment3,521 3,490 
Computer equipment and software2,616 2,559 
Furniture and fixtures2,191 2,152 
Total property and equipment187,354 182,057 
Accumulated depreciation(33,772)(31,281)
Property and equipment, net$153,582 $150,776 
Depreciation expense was $1.5 million and $1.4 million for the three months ended March 31, 2026 and 2025, respectively. Depreciation expense capitalized into inventory was $1.0 million for the three months ended March 31, 2026 and 2025.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following as of March 31, 2026 and December 31, 2025:
(in thousands)
March 31,
2026		December 31,
2025
Accrued taxes$13,110 $10,919 
Accrued payroll and benefits4,938 11,457 
Accrued professional fees4,347 5,936 
Accrued preclinical and clinical expenses3,801 4,667 
Other current liabilities3,176 3,579 
Accrued inventory1,040 1,005 
Accrued construction in progress784 2,189 
Accrued expenses and other current liabilities
$31,196 $39,752