Office, Lab and Manufacturing Space Leases
−Removed: In December 2020, we entered into
−Removed: an agreement to lease approximately 2,823 square feet of office space and 1,807 square feet of laboratory space located at 11555 Sorrento
−Removed: Valley Road, Suite 203, San Diego, California 92121 and 11575 Sorrento Valley Road, Suite 200, San Diego, California 92121, respectively.
+Added: In December 2020, we entered
+Added: into an agreement to lease approximately 2,823 square feet of office space and 1,807 square feet of laboratory space located at 11555
+Added: Sorrento Valley Road, Suite 203, San Diego, California 92121 and 11575 Sorrento Valley Road, Suite 200, San Diego, California 92121, respectively.
The agreement carries a term of 63 months and we took possession of the office space effective October 1, 2021.
11 unchanged sentences
The weighted average discount rate is 4.25%.
−Removed: As of our March 31, 2024 balance
−Removed: sheet, we have a right-of-use lease asset of $883,054.
−Removed: The following table presents a
−Removed: maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next three fiscal years.
+Added: As of March 31, 2025, we have
+Added: a right-of-use lease asset of $601,846.
+Added: The following table presents
+Added: a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next two fiscal years.
our leases conterminously expire during the fiscal year ending March 31, 2027.
4 unchanged sentences
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.