PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

PROPERTY AND EQUIPMENT [Abstract]

PROPERTY AND EQUIPMENT

4. PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2024 and 2023 is summarized as follows:

	December 31, 2024			December 31, 2023
	(In thousands)
Manufacturing and laboratory equipment	$	21,305		$	21,093
Office equipment and computer software		5,772			6,062
Furniture and fixtures		5,840			5,776
Construction in process		8,149			2,273
Leasehold improvements		21,066			20,811
Land		4,339			4,339
Buildings and building improvements		21,788			20,218
		88,259			80,572
Less: Accumulated depreciation		(33,552	)		(26,737	)
Total property and equipment, net	$	54,707		$	53,835

The Company recorded depreciation expense on property and equipment of $7.7 million, $7.6 million and $6.4 million for the years ended December 31, 2024, 2023 and 2022, respectively.