Balance Sheet Components

3 Months Ended

Mar. 31, 2024

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Balance Sheet Components

Property and Equipment, net

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

	March 31, 2024		December 31, 2023
Laboratory equipment	$	43,955	$	43,728
Computer equipment	2,915		2,783
Furniture and fixtures	2,887		2,887
Leasehold improvements	80,359		80,290
Construction in progress	506		226
Property and equipment, gross	130,622		129,914
Less accumulated depreciation	(38,145)		(33,896)
Total property and equipment, net	$	92,477	$	96,018

Depreciation expenses were $4.4 million and $5.5 million for the three months ended March 31, 2024 and 2023, respectively.

Accrued and Other Liabilities

Accrued and other liabilities consist of the following (in thousands):

	March 31, 2024		December 31, 2023
Research and development expenses	$	27,314	$	33,129
Payroll and related expenses	17,508		41,322
Operating lease liabilities, current	11,913		12,867
Excess funds payable under grant agreements	7,603		9,202
Other professional and consulting expenses	3,492		3,418
Accrued royalties	1,112		816
Net profit-sharing amount	287		—
Accrued income taxes	146		149
Other accrued expenses	2,885		3,317
Total accrued and other liabilities	$	72,260	$	104,220