Item 2. Properties
ITEM 2. PROPERTIES
On December 20, 2021, the Company completed a purchase of 13 acres of land in the Verona Technology Park in Verona, Wisconsin, which is being developed into an approximately 160,000 square foot drug manufacturing facility and an approximately 140,000 square foot laboratory and office facility which will support the Company’s process development and analytical activities. Additionally, the Company entered into a lease agreement for a new 144,000 square foot laboratory and office facility in San Diego, California to support discovery activities, which it currently anticipates to be available starting around April 2023. The following table summarizes the Company’s leased facilities as of September 30, 2022.
Office
Space (sq.ft) Monthly
Expenses Primary Use Lease
Expiration Lease
Term (year)
Pasadena, California 49,000 $ 157,490 Corporate Headquarters April 2027 7.5
Madison, Wisconsin 111,000 $ 168,371 Research Facility September 2031 15.0
San Diego, California 21,000 $ 61,821 Research Facility January 2023 2.3
San Diego, California 10,000 $ 33,379 Office Space March 2023 1.2
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