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Leases
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Leases Leases
The Company has operating leases for corporate offices, research and development facilities, and a fleet of vehicles. The properties primarily relate to the Company’s principal executive office and research facility located in Durham, North Carolina, regulatory, commercial support and other administrative activities located in Irvine, California, and clinical, finance and legal operations located in Bedminster, New Jersey. The Durham, North Carolina, facility consists of approximately 61,000 square feet of laboratory and office space under leases that expire between January 2022 and June 2024 and the Irvine, California, location consists of approximately 37,300 square feet of office space under a lease that expires in January 2022. The Bedminster, New Jersey, location consists of approximately 34,000 square feet of office space under a lease that expires in October 2029. There are also small offices in Ireland, the United Kingdom and Japan.
The Company is leasing approximately 30,000 square feet of interior floor space for its manufacturing plant in Athlone, Ireland, which the Company has concluded is an operating lease upon completion of the build-out in the second quarter of 2019. As a result, the Company concurrently recognized an operating lease ROU asset and a corresponding operating lease liability related to the leaseback of the facility of approximately $2.4 million upon completion of the build-out. The Company is reasonably certain it will remain in the lease through the end of its lease term in 2037, however, the Company is permitted to terminate the lease as early as September 2027.
The Company’s operating leases have remaining lease terms of approximately 1 year to 17 years, some of which include options to extend the leases.
Balance sheet information related to leases was as follows:
DECEMBER 31,
(in thousands)20202019
Operating lease right-of-use assets$14,084 $16,523 
Operating lease liabilities$4,923 $5,502 
Long-term operating lease liabilities10,206 12,102 
Total operating lease liabilities$15,129 $17,604 
The cash paid for amounts included in the measurement of lease liabilities was $6.0 million and $4.7 million during the years ended December 31, 2020 and 2019, respectively. The Company’s right-of-use assets obtained in exchange for operating lease obligations were $1.9 million and $3.1 million during the years ended December 31, 2020 and 2019, respectively.
DECEMBER 31,
20202019
Operating Leases
Weighted-average remaining lease terms8 years8 years
Weighted-average discount rate9 %8 %
Maturities of lease liabilities as of December 31, 2020 are as follows:
OPERATING
(in thousands)LEASES
Year Ending December 31,
2021$5,068 
20222,467 
20232,139 
20241,764 
Thereafter10,424 
Total undiscounted lease payments21,862 
Less: present value adjustment(6,733)
Total lease liabilities$15,129 
Maturities of lease liabilities as of December 31, 2019 were as follows:
OPERATING
(in thousands)LEASES
Year Ending December 31,
2020$5,879 
20214,074 
20221,925 
20231,758 
Thereafter11,551 
Total undiscounted lease payments$25,187 
Less: present value adjustment(7,583)
Total lease liabilities$17,604 
Lease expense for the Company’s operating leases was $5.6 million, including variable lease payments of $0.7 million, for the year ended December 31, 2020, respectively. Lease expense for the Company’s operating leases was $5.3 million, including variable lease payments of $1.3 million, for the year ended December 31, 2019, respectively.
Under prior lease guidance, rent expense for the Company’s operating leases was $3.8 million for the year ended December 31, 2018