−Removed: Substantially all of our operations are currently conducted at leased facilities, including our manufacturing processes, research and development activities, customer and technical support, and management and administrative functions.
−Removed: As of December 31, 2023, we leased facilities with an aggregate total of approximately 358,000 square feet, as follows:
−Removed: United States
−Removed: • Headquarters Lease :
−Removed: 181,949 square feet of general administrative, laboratory and research and development office space located on High Bluff Drive in San Diego, California.
−Removed: Phase I of the lease, consisting of 143,850 rentable square feet, began in March of 2022.
−Removed: Phase II of the lease, consisting of 38,099 rentable square feet, is expected to begin in the first quarter of 2025.
−Removed: The lease term covering both Phase I and Phase II is currently expected to expire in April 2035.
−Removed: We have two options to extend the term of the lease, with each option providing for an additional period of five years.
−Removed: The Headquarters Lease also includes a first right of offer with respect to an additional 16,154 rentable square feet of general office space should the space become available.
−Removed: • Vista Sorrento Parkway Lease :
−Removed: 73,929 square feet of general office space located on Vista Sorrento Parkway in San Diego, California, which is scheduled to expire in January 2028.
−Removed: We have two options to extend the term of the Vista Sorrento Parkway lease, with each option providing for an additional period of five years, which are not expected to be exercised.
−Removed: During the second quarter of 2023, the Company consolidated facilities by moving the administrative functions and other operations from the Vista Sorrento Lease facility to the new Headquarters Lease location, and this leased facility is currently unoccupied.
−Removed: • Barnes Canyon Lease :
−Removed: 48,880 square feet of general office, manufacturing and warehouse space located on Barnes Canyon Road in San Diego, California, which is scheduled to expire in November 2028.
−Removed: • Marindustry Place Lease :
−Removed: 40,490 square feet of general office and warehouse space located on Marindustry Place in San Diego, California, which is scheduled to expire in April 2026.
−Removed: We have a one-time option to extend the term of the Marindustry Place lease for a period of no less than three years and no more than five years.
−Removed: • High Bluff Lease :
−Removed: 31,372 square feet of general office space located on High Bluff Drive, in San Diego, California, which is scheduled to expire in March 2024.
−Removed: This leased facility is currently unoccupied.
−Removed: • Wrigley Lease:
−Removed: 7,753 square feet of general administrative and research and development office space located on Wrigley Avenue in Irvine, California, which is scheduled to expire in October 2024.
−Removed: In January 2024, the Company extended the term of this lease through October 2025.
−Removed: Outside the United States
−Removed: • Switzerland Lease :
−Removed: 11,287 square feet of general administrative and research and development office space located in Saint-Sulpice, Switzerland, which expired in December 2023.
−Removed: The Company executed a new lease agreement with a lease term that begins in January 2024 and expires in December 2028.
−Removed: • Canada Lease :
−Removed: 667 square feet of general office space located in Markham, Ontario, Canada.
−Removed: This is a month-to-month lease that can be canceled by delivering written notice of no less than one month to the landlord.
+Added: Our corporate headquarters and principal offices are located at a 181,949 square foot facility we lease in San Diego, California.
+Added: The lease expires in April 2035;
+Added: however, we have two options to extend the lease for additional five-year periods as well as a right of first offer with respect to an additional 16,154 square feet of general office space should the space become available.
+Added: We lease additional office space in San Diego, California, Irvine, California, Saint-Sulpice, Switzerland and Markham, Ontario, Canada.
We believe that the facilities that we presently occupy will be sufficient to support our current operations and that suitable additional facilities would be available to us should our operations require it.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.