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PROPERTY AND EQUIPMENT, NET (Tables)
12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Summarizes Components of Property and Equipment, Net

Property and equipment are recorded at historical cost, net of accumulated depreciation and accumulated impairment losses. The following table summarizes components of property and equipment, net, for each of the periods indicated:

 

 

As of December 31,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Construction in progress

 

$

165,901

 

 

$

91,089

 

Leasehold improvements

 

 

155,073

 

 

 

99,989

 

Lab and manufacturing equipment

 

 

129,881

 

 

 

108,101

 

Building and improvements

 

 

51,178

 

 

 

48,063

 

Software and computer equipment

 

 

50,179

 

 

 

50,179

 

Furniture and fixtures

 

 

10,399

 

 

 

9,339

 

Land and land improvements

 

 

10,171

 

 

 

10,171

 

Office equipment

 

 

1,699

 

 

 

1,193

 

Property and equipment, gross

 

 

574,481

 

 

 

418,124

 

Less: accumulated depreciation

 

 

(233,704

)

 

 

(190,970

)

Less: accumulated impairment loss

 

 

(441

)

 

 

 

Property and equipment, net

 

$

340,336

 

 

$

227,154