Item 2. Properties
Item 2. Properties
We lease premises consisting of approximately 100,904 square feet of office and laboratory space located at Oyster Point Blvd, South San Francisco, California pursuant to a lease agreement entered into on September 28, 2023 (the "Oyster Point Lease"), which is being used as a single unified Company headquarters. The lease term of approximately seven years started in the second quarter of 2024. We believe that our current facilities are sufficient to meet our current and near-term needs for the business of developing and commercializing novel therapies for fibrotic diseases and that, should it be needed, suitable additional space will be available.
We previously leased (i) a facility containing 32,974 square feet of laboratory and office space located at 260 Littlefield Avenue, South San Francisco, California 94080, which lease terminated in the third quarter of 2024 and (ii) a facility lease containing 12,456 square feet of office space at 611 Gateway Boulevard, South San Francisco, California 94080, which lease expired March 31, 2024.
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