Property and Equipment, net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, net

5. Property and Equipment, net

Property and equipment, net, consists of the following (in thousands):

	As of December 31,
	2024			2023
Computer equipment	$	3,833		$	3,739
Furniture, fixtures, and other		8,554			8,109
Laboratory equipment		42,008			41,411
Leasehold improvements		145,852			143,260
Construction work in process		6,118			8,859
Total property and equipment, gross		206,365			205,378
Accumulated Depreciation		(72,272	)		(53,433	)
Total property and equipment, net	$	134,093		$	151,945

Depreciation expense for the year ended December 31, 2024, 2023 and 2022 was $19.2 million, $19.8 million, and $24.1 million, respectively.