Property and equipment, net

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property and equipment, net consisted of the following:


	December 31, 2023		March 31, 2024
Computers	$	3,517	$	3,570
Land	53,405		53,405
Building	43,947		53,398
Laboratory equipment	70,350		74,991
Leasehold improvements	73,944		82,852
Operating lease right-of-use assets	73,141		71,326
Property and equipment	318,304		339,542
Less accumulated depreciation	(30,608)		(33,461)
Property and equipment, net	$	287,696	$	306,081

As of December 31, 2023 and March 31, 2024, property and equipment includes leasehold improvements and construction in progress in the amount of $91.0 million and $93.1 million, respectively, and construction deposits of $13.7 million and $15.2 million, respectively, that have not commenced depreciation. Depreciation expense on property and equipment for the three months ended March 31, 2023 and March 31, 2024 was $2.9 million and $3.2 million, respectively.