−Removed: Our principal laboratory and administrative facilities are located in Monrovia, California, which is located in the greater Los Angeles region.
+Added: Our principal laboratory and administrative facilities are currently located in Monrovia, California, which is located in the greater Los Angeles region.
We currently lease 48,000 square feet of laboratory and office space in Monrovia, California.
−Removed: The original lease was for 24,000 square feet under a lease that was set to expire in June 2020.
−Removed: In April and September 2020, we entered into amendments to the lease that extended the term under the original terms through October 2020.
−Removed: In November 2020, we entered into an amendment to the lease which extends the lease to December 2025.
−Removed: In July 2017, under a separate lease agreement, we entered into a lease for an additional 24,000 square feet of space in the same building.
−Removed: The lease includes a 64-month term for the additional 24,000 square feet with an option to renew for an additional five years at then market rates.
−Removed: The lease terms for the original space were not amended.
+Added: The facility is leased under two separate leases, a lease for 24,000 square feet with a term that expires December 31, 2025 and, a second lease for 24,000 square feet with a term that expired January 31, 2023.
In June 2017, we entered into a lease for 23,500 of office space in San Diego.
−Removed: The lease term has a 61-month term beginning August 2017 and includes an option to renew for an additional five years.
−Removed: In June 2021, the Company entered into an Agreement of Lease (the Halstead Lease) relating to 129,543 rentable square feet, for laboratory and office space, in Pasadena, California, where the Company intends to move its corporate headquarters in the second half of 2022.
+Added: The original lease term was scheduled to expire August 31, 2022 and in May 2022 we entered into an Amendment to the original lease which extended the lease term to December 31, 2023.
+Added: In June 2021, we entered into an 18-month lease for a 7,000-square floor office space in Monrovia, California.
+Added: The lease began August 1, 2021 and expired January 31, 2023.
+Added: In June 2021, we entered into an Agreement of Lease (the Halstead Lease) relating to 129,543 rentable square feet, for laboratory and office space, in Pasadena, California, where the Company will move its corporate headquarters in March of 2023.
The term of the Halstead Lease will become effective in two phases.
−Removed: The first phase commences on August 1, 2022 and encompasses 83,083 square feet while the second phase commences no later than September 30, 2026 and encompasses an additional 46,460 square feet.
+Added: The first phase commenced on August 1, 2022 and encompasses 83,083 square feet while the second phase commences no later than July 1, 2025 and encompasses an additional 46,460 square feet.
The term of the Halstead Lease is 13 years from the first phase commencement date, August 1, 2022.
−Removed: In June 2021, the Company entered into an 18-month lease for a 7,020-square-foot office space in Monrovia, California.
−Removed: The lease began on August 1, 2021 and includes options to renew.
We believe that our existing facilities and planned new corporate headquarters are adequate to meet our current and future needs.
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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.