Item 2. Properties
Item 2. Properties
Our corporate office is located at 8030 El Rio Street, Houston, Texas 77054. Our Houston offices are leased pursuant to the 2019 Lease and the 2020 Lease, as described below and comprise a total of approximately 32,148 square feet. In December 2021, we made the decision to close our former corporate office in Boston, Massachusetts. We are still party to the Boston lease but are seeking an acceptable sublessee to become a subtenant and/or assume our obligations under the lease.
In October 2019, we entered into an agreement with MD Anderson to lease laboratory and office space on MD Anderson’s campus, or, as amended, the 2019 Lease. We use this location to house our laboratory, cGMP clinical manufacturing facilities and office space on MD Anderson’s campus. The 2019 Lease expires in February 2027. The monthly rent expense of the 2019 Lease with MD Anderson was being deducted from our prepayment at MD Anderson until the third quarter of 2021, since which time we pay MD Anderson monthly.
In December 2020, we entered into a second agreement with MD Anderson to lease additional space on MD Anderson’s campus, or, as amended, the 2020 Lease. The 2020 Lease expires in April 2028 and may be extended for one additional five-year term at our election. See Note 8 to the accompanying financial statements for further details.
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We believe that our existing facilities are adequate to meet our current needs.
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