Leases

3 Months Ended

Mar. 31, 2021

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. 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 16 years, some of which include options to extend the leases.

Balance sheet information related to leases was as follows:


(in thousands)	MARCH 31, 2021		DECEMBER 31, 2020
Operating Leases
Operating lease right-of-use assets	$	13,241	$	14,084

Operating lease liabilities	$	4,052	$	4,923
Long-term operating lease liabilities	9,914		10,206
Total operating lease liabilities	$	13,966	$	15,129