−Removed: We currently lease approximately 2,600 square
−Removed: feet of executive office space at 9635 Granite Ridge Drive, Suite 100, San Diego , California 92123 under a 39-month gross
−Removed: plus utilities lease that commenced on December 1, 2014 and expires on August 31, 2021.
+Added: We currently lease approximately
+Added: 2,600 square feet of executive office space at 9635 Granite Ridge Drive, Suite 100, San Diego , California 92123 under a 39-month
+Added: gross plus utilities lease that commenced on December 1, 2014 and expires on August 31, 2021.
The current rental rate under the lease
extension is $8,265 per month.
−Removed: We believe this leased facility will be satisfactory for our office needs over the term of the lease.
−Removed: We also rent approximately 1,700 square
−Removed: feet of laboratory space at 11585 Sorrento Valley Road, Suite 109, San Diego, California 92121 at the rate of $4,700 per month
−Removed: on a one-year lease that originally was to expire on November 30, 2019.
−Removed: In October 2019, we entered into a lease extension for
−Removed: an additional twelve months running from December 1, 2019 through November 30, 2020, at the rate of $5,961 per month.
+Added: We also rent approximately
+Added: 1,700 square feet of laboratory space at 11585 Sorrento Valley Road, Suite 109, San Diego, California 92121 at the rate of $6,148 per
+Added: month on a one-year lease that originally was to expire on November 30, 2020.
+Added: In December 2020, we entered into a short-term lease extension
+Added: running from December 1, 2020 through the completion date of our construction of our planned new laboratory space which is adjacent to
+Added: our current laboratory.
+Added: In December 2020, we entered into an agreement
+Added: to lease approximately 2,823 square feet of office space and 1,807 square feet of laboratory space.
+Added: The agreement carries a term of 63
+Added: months and we will commence paying rent when we take occupancy of those spaces, which is expected to occur in the third calendar quarter
+Added: For the initial year of the lease, the rental rate will be $13,385.55 per month.
+Added: Thereafter, the base rent will increase each
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.