v3.26.1
Property and Equipment, Net (Tables)
3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment

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

 

 

March 31,
2026

 

 

December 31,
2025

 

Leasehold improvements

 

$

111,446

 

 

$

110,760

 

Lab equipment

 

 

77,681

 

 

 

77,038

 

Furniture and fixtures

 

 

4,836

 

 

 

4,836

 

Computer equipment

 

 

3,170

 

 

 

3,170

 

Construction in process

 

 

3,846

 

 

 

2,823

 

Total property and equipment

 

 

200,979

 

 

 

198,627

 

Less accumulated depreciation

 

 

(99,732

)

 

 

(94,127

)

Property and equipment, net

 

$

101,247

 

 

$

104,500

 

Summary of Depreciation Expense Incurred

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

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Depreciation expense

 

$

5,605

 

 

$

5,528