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OTHER ASSETS (Tables)
6 Months Ended
Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Summary of Other Current Assets

The following table summarizes the Company’s other current assets for each of the periods indicated:

 

 

As of
June 30, 2024

 

 

As of
December 31, 2023

 

 

 

(in thousands)

 

Collaboration and other receivables

 

$

19,869

 

 

$

29,786

 

Prepaid maintenance services

 

 

14,266

 

 

 

11,281

 

Prepaid clinical and pre-clinical expenses

 

 

12,356

 

 

 

10,280

 

Tax-related receivables and prepaids

 

 

8,415

 

 

 

6,862

 

Interest receivable

 

 

3,979

 

 

 

2,731

 

Prepaid insurance

 

 

3,932

 

 

 

3,352

 

Prepaid commercial expenses

 

 

3,684

 

 

 

2,729

 

Other

 

 

8,242

 

 

 

10,693

 

Total other current assets

 

$

74,743

 

 

$

77,714

 

 

Summary of Other Non-current Assets

The following table summarizes the Company’s other non-current assets for each of the periods indicated:

 

 

 

As of
June 30, 2024

 

 

As of
December 31, 2023

 

 

 

(in thousands)

 

Manufacturing-related deposits and prepaids

 

$

77,102

 

 

$

74,204

 

Intangible assets, net

 

 

28,252

 

 

 

29,620

 

Restricted cash*

 

 

15,579

 

 

 

15,579

 

Strategic investments

 

 

7,606

 

 

 

6,527

 

Prepaid maintenance services

 

 

4,046

 

 

 

5,466

 

Other

 

 

3,144

 

 

 

5,375

 

Total other non-current assets

 

$

135,729

 

 

$

136,771

 

 

* The Company had approximately $15.6 million in restricted cash included in other non-current assets on the Company’s unaudited condensed consolidated balance sheets as of both June 30, 2024 and December 31, 2023. Restricted cash for both periods relates to (i) letters of credit established under the Company’s various property leases that serve as security for potential future default of lease payments, (ii) a letter of credit established under a certain commercial supply agreement and (iii) collateralized cash for the Company’s credit cards. The restricted cash is unavailable for withdrawal or use for general obligations.