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Property and Equipment, Net (Tables)
3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment

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

 

 

March 31,
2024

 

 

December 31,
2023

 

Leasehold improvements

 

$

100,582

 

 

$

100,186

 

Lab equipment

 

 

67,133

 

 

 

61,674

 

Furniture and fixtures

 

 

4,836

 

 

 

4,836

 

Computer equipment

 

 

3,163

 

 

 

3,163

 

Construction in process

 

 

821

 

 

 

5,283

 

Total property and equipment

 

 

176,535

 

 

 

175,142

 

Less accumulated depreciation

 

 

(55,613

)

 

 

(50,182

)

Property and equipment, net

 

$

120,922

 

 

$

124,960

 

Summary of Depreciation Expense Incurred

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

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Depreciation expense

 

$

5,431

 

 

$

4,647