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PROPERTY AND EQUIPMENT (Tables)
12 Months Ended
Dec. 31, 2017
Property Plant And Equipment [Abstract]  
Summarizes Components of Property and Equipment, Net

Property and equipment are recorded at historical cost, net of accumulated depreciation. The following table summarizes components of property and equipment, net for each of the periods indicated:

 

 

As of December 31,

 

 

2017

 

 

2016

 

 

(in thousands)

 

Land

$

4,158

 

 

$

4,158

 

Building and improvements

 

14,543

 

 

 

12,729

 

Software and computer equipment

 

8,965

 

 

 

6,775

 

Lab equipment

 

9,860

 

 

 

14,149

 

Office equipment

 

2,211

 

 

 

3,028

 

Leasehold improvements

 

13,633

 

 

 

22,872

 

Construction in progress

 

7,808

 

 

 

4,436

 

Property and equipment, gross

 

61,178

 

 

 

68,147

 

Less: accumulated depreciation

 

(18,022

)

 

 

(30,346

)

Property and equipment, net

$

43,156

 

 

$

37,801