PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

PROPERTY AND EQUIPMENT [Abstract]

PROPERTY AND EQUIPMENT

4. PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2023 and 2022 is summarized as follows:

	December 31, 2023			December 31, 2022
	(In thousands)
Manufacturing and laboratory equipment	$	21,093		$	18,768
Office equipment and computer software		6,062			5,319
Furniture and fixtures		5,776			5,110
Construction in process		2,273			6,727
Leasehold improvements		20,811			17,931
Land		4,339			4,339
Buildings and building improvements		20,218			19,544
		80,572			77,738
Less: Accumulated depreciation		(26,737	)		(19,477	)
Total property, plant and equipment, net	$	53,835		$	58,261

The Company recorded depreciation expense on property and equipment of $7.6 million, $6.4 million and $4.8 million for the years ended December 31, 2023, 2022 and 2021, respectively.