Item 2. Properties
Item 2 Properties.
On August 15, 2022, the Company purchased a 36,000 square foot building located in Miramar, Florida, as our new headquarters. We will use the new facility for research and development laboratories and facilities for manufacturing, as well as offices for our employees, including clinical development, research, development, quality control, quality assurance, regulatory affairs, and administration. The Company is in the process of refitting the building for our purposes. Our relocation to the new headquarters is anticipated during 2024, although we may choose to delay the completion date to, among other reasons, extend our cash runway. We continue to occupy approximately 12,250 square feet of space in Miramar, Florida under a lease that expires on February 29, 2024, which we believe is sufficient to meet our current and near-term needs.
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