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OTHER ASSETS (Tables)
12 Months Ended
Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Summary of Other Current Assets

The following table summarizes the Company’s other current assets for each of the periods indicated:

 

 

 

As of December 31,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Manufacturing-related deposits and prepaids

 

$

102,181

 

 

$

66,455

 

Collaboration and other receivables

 

 

29,786

 

 

 

41,758

 

Prepaid maintenance services

 

 

11,281

 

 

 

9,815

 

Prepaid clinical and pre-clinical expenses

 

 

10,280

 

 

 

11,237

 

Tax-related receivables and prepaids

 

 

6,862

 

 

 

1,903

 

Prepaid insurance

 

 

3,352

 

 

 

3,717

 

Interest receivable

 

 

2,731

 

 

 

3,311

 

Prepaid commercial expenses

 

 

2,729

 

 

 

2,947

 

Prepaid research expenses

 

 

2,512

 

 

 

1,927

 

Other

 

 

8,181

 

 

 

6,821

 

Total other current assets

 

$

179,895

 

 

$

149,891

 

Summary of Other Non-current Assets

The following table summarizes the Company’s other non-current assets for each of the periods indicated:

 

 

 

As of December 31,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Manufacturing-related deposits and prepaids

 

$

74,204

 

 

$

97,409

 

Intangible assets, net

 

 

29,620

 

 

 

7,578

 

Restricted cash*

 

 

15,579

 

 

 

19,024

 

Strategic investments

 

 

6,527

 

 

 

31,321

 

Prepaid maintenance services

 

 

5,466

 

 

 

3,403

 

Prepaid clinical expenses

 

 

2,133

 

 

 

2,150

 

Other

 

 

3,242

 

 

 

2,084

 

Total other non-current assets

 

$

136,771

 

 

$

162,969

 

 

* The Company had approximately $15.6 million and $19.0 million in restricted cash included in other non-current assets on the Company's consolidated balance sheets as of December 31, 2023 and 2022, respectively. Restricted cash for both years relates to (i) letters of credit established under the Company's various property leases that serve as security for potential future default of lease payments, (ii) a letter of credit established under a certain commercial supply agreement and (iii) collateralized cash for the Company's credit cards. The restricted cash is unavailable for withdrawal or use for general obligations.