v3.24.3
Balance Sheet Details
 9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Details Balance Sheet Details
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets as of September 30, 2024 and December 31, 2023 consisted of the following:
September 30,
2024		December 31,
2023
(in thousands)
Interest receivable$17,574 $3,598 
Prepaid expenses10,588 6,159 
Purchased equipment deposits1,497 3,856 
Grant receivable298 9 
Other current assets3,443 2,105 
Total$33,400 $15,727 
Property and Equipment, Net
Property and equipment, net as of September 30, 2024 and December 31, 2023 consisted of the following:
September 30,
2024		December 31,
2023
(in thousands)
Furniture and equipment$1,608 $1,608 
Computers and computer software1,001 771 
Lab equipment31,328 25,110 
Leasehold improvements4,059 1,460 
Manufacturing equipment
15,390 8,134 
Manufacturing facility and equipment construction-in-progress (1)
123,268 51,815 
Total property and equipment176,654 88,898 
Less: accumulated depreciation and amortization(13,411)(9,272)
Property and equipment, net$163,243 $79,626 
___________
(1) See Note 4, “Commercial Manufacturing and Supply Agreement,” for further details.
Depreciation and amortization expense was $1.8 million and $0.8 million for the three months ended September 30, 2024 and 2023, respectively, and $4.1 million and $2.3 million for the nine months ended September 30, 2024 and 2023, respectively.
Other Assets
Other assets as of September 30, 2024 and December 31, 2023 consisted of the following:
September 30,
2024		December 31,
2023
(in thousands)
Manufacturing facility construction buildout (1)
$57,991 $34,688 
Other long-term assets1,771 2,768 
Long-term prepaid assets284 106 
Total$60,046 $37,562 
___________
(1) See Note 4, “Commercial Manufacturing and Supply Agreement,” for further details.
Accrued Expenses
Accrued expenses as of September 30, 2024 and December 31, 2023 consisted of the following:
September 30,
2024		December 31,
2023
(in thousands)
Other research and development$25,674 $30,759 
Other accrued expenses3,955 1,900 
Clinical studies
1,124 2,156 
Acquired manufacturing rights (1)
— 25,000 
Total$30,753 $59,815 
___________
(1) See Note 7, “Commitments and Contingencies, Sutro Option Agreement,” for further details.