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Property and Equipment, Net
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
The following table presents the components of the Company’s property and equipment, net ($ in thousands):
September 30, 2024December 31, 2023
Office equipment1,059 1,047 
Electronic equipment9,527 9,161 
Vehicle201 199 
Laboratory equipment20,793 20,140 
Manufacturing equipment17,944 17,680 
Leasehold improvements11,544 11,371 
Construction in progress26,050 24,272 
87,118 83,870 
Less: accumulated depreciation(36,353)(30,136)
Property and equipment, net50,765 53,734 
Depreciation expense was $2.1 million and $6.6 million in the three and nine months ended September 30, 2024, respectively, and $1.8 million and $6.1 million in the three and nine months ended September 30, 2023, respectively.