PROPERTY AND EQUIPMENT, NET
|6 Months Ended|
Jun. 30, 2021
|Property, Plant and Equipment [Abstract]|
|PROPERTY AND EQUIPMENT, NET||
NOTE 3 – PROPERTY AND EQUIPMENT, NET
Property and equipment, net consisted of the following (in thousands):
On September 28, 2020, the Company completed the purchase of its 4.0 million square foot facility in Massachusetts for $4,000,000, to house its new Advanced Development Center for the development and manufacturing of vaccines. Of the total purchase price, $1.2 million was allocated to the value of land acquired, and $2.8 million was allocated to construction in progress, as the building was not ready for its intended use. As of June 30, 2021, the asset has not been placed in service.
On December 23, 2020, the Company completed the purchase of its approximately 44-acre site in Hamilton, Montana for $4.4 million, for the construction of a vaccine development and commercial scale manufacturing facility. As of June 30, 2021, the asset has not been placed in service.
The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef