Item 2. Properties
Item 2. Properties.
Our principal executive office is located in Wilmington, Delaware where we license a total of approximately 209,500 square feet of office and laboratory space that we use for our administrative, research and development and other activities. The license expires on December 31, 2022 and we have an option to renew the license for an additional 12 months thereafter. We also have a right of first offer in connection with certain licensable additional space in this building that becomes vacant prior to October 31, 2021.
Additionally, we have a development and operations office located in Wilmington, Delaware where we lease a total of approximately 5,000 square feet of office space. The lease under this building expires on March 31, 2021. We believe that our facilities are sufficient to meet our current needs and that suitable additional space will be available as and when needed.
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