Item 2. Properties
ITEM 2. PROPERTIES
Below is a summary of our key leased properties as of December 31, 2022 :
California
Our corporate headquarters are located in South San Francisco, California, comprising 148,020 square feet of office, research and development, engineering and laboratory space pursuant to a lease agreement which commenced on April 12, 2019 and expires on April 30, 2029, with an option to extend for a period of ten years. This facility houses the majority of our personnel.
Utah
The build-out of approximately 78,000 rentable square feet of office, lab and clinical manufacturing premises in Salt Lake City, Utah ("SLC Facility") is in process. The lease ("SLC Lease") will commence when the space is available for use, which is anticipated to be during 2023, and is expected to terminate in 2032. We have the option to extend the lease for a further eight years at the end of the lease period.
Switzerland
Our European headquarters encompasses office space in a shared facility located in Zürich, Switzerland. The current lease agreement is through at least April 2023, with the option to renew. The lease terms provide flexibility to increase our space allocation on short term notice.
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We believe that our existing premises are adequate for our current needs.
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