Item 2. Properties
Item 2 Properties.
On August 15, 2022, we 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. We are in the process of refitting the building for our purposes. Our relocation to the new headquarters is anticipated in the early 2025. We expect our cGMP manufacturing facility to be validated and operational in the first half of 2025. We continue to occupy approximately 12,250 square feet of space in Miramar, Florida under a lease that commenced on March 1, 2024 and expires on February 28, 2025, which we believe is sufficient to meet our current and near-term needs.
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