Item 2. Properties
Item 2. Properties
Our Israeli office and laboratory are located
at 5 Kiryat Hamada St., Har Hotzvim, Jerusalem, Israel. The laboratory and office space total approximately 15,400 square feet.
The lease will expire in October 2020. The annual rent (including management fees) is approximately $0.3 million. In January 2020,
our board of directors approved our management’s recommendation to close our Israeli office and laboratories. Following the
closure of our Israeli facilities, our sole remaining office will be located in Cambridge, Massachusetts.
Our wholly-owned U.S. subsidiary’s
office is located at 1 Kendall Square, Building 1400, Suite 14-105, Cambridge, Massachusetts 02139, where we lease and occupy approximately
2,350 square feet of space. The lease term will expire at the end of January 2022. The annual rent is approximately $0.2 million.
We believe that our facilities are suitable
and adequate for our current needs, however, we may need to obtain additional work area to address growth in the future.
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