v3.26.3
Property and Equipment, net
 9 Months Ended
Sep. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment, net

4. Property and Equipment, net

Property and equipment, net, consists of the following (in thousands):

 

 

As of

 

 

 

September 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Computer equipment

 

$

4,253

 

 

$

4,152

 

Furniture, fixtures and other

 

 

8,554

 

 

 

8,554

 

Laboratory equipment

 

 

44,949

 

 

 

43,575

 

Leasehold improvements

 

 

146,790

 

 

 

146,667

 

Construction work in process

 

 

3,550

 

 

 

3,955

 

Total property and equipment, gross

 

 

208,096

 

 

 

206,903

 

Accumulated depreciation

 

 

(103,801

)

 

 

(91,052

)

Total property and equipment, net

 

$

104,295

 

 

$

115,851

 

Depreciation expense for the three and nine months ended September 30, 2026 was $4.2 million and $12.8 million, respectively. Depreciation expense for the three and nine months ended September 30, 2025 was $4.4 million and $13.8 million, respectively.