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; the rent commencement date was April 19, 2023. The following table summarizes the Company’s leased facilities as of September 30, 2023.
Approximate Square Footage Primary Use Lease
Expiration Remaining Lease
Term (year)
Pasadena, California 49,000 Corporate Headquarters April 2027 3.6
Madison, Wisconsin 115,000 Research Facility September 2031 7.9
San Diego, California 144,000 Research and Office Facility April 2038 14.6
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