Item 2. Properties
Item 2. Properties
We sublease 33,019 square feet of space for our headquarters in Wayne, Pennsylvania, which we use for our therapeutics business. The sublease has a term through October 2023. If for any reason the master lease is terminated or expires prior to October 2023, our sublease will automatically terminate. We sub-sublease 8,115 square feet of this space to a third party. The sub-sublease term runs concurrently with our sublease agreement.
We also sublease 20,433 square feet of office and laboratory space in St. Louis, Missouri, which we use for our therapeutics and contract research businesses. The sublease has an initial term through June 2029. We have the option to extend the initial term for two additional five-year periods.
We believe that our facilities are suitable and adequate to meet our current needs.
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