Leases

3 Months Ended

Jul. 31, 2022

Leases [Abstract]

Leases

7. Leases

The Company has a lease agreement for approximately 8,300 square feet of space for its headquarters located in Cambridge, Massachusetts that runs through September 2028.

The Company has lease agreements for approximately 13,400 square feet of office and research laboratory space located in Porton Down, United Kingdom that run through April 2028, with an option to terminate in April 2023. As of September 2022, the Company does not expect to exercise the option to terminate the leases. Options to renew a lease are not included in the Company’s assessment unless there is reasonable certainty that the Company will renew.

The Company has a lease agreement in Salt Lake City, Utah for approximately 6,200 square feet of office space that commenced in November 2021 and runs through February 2032.

The Company has a lease agreement for approximately 500 square feet of research laboratory space in Cambridge, Massachusetts that commenced in July 2022 with an option to renew annually.

Total rent expense was approximately $0.5 million and $0.4 million for the three months ended July 31, 2022 and 2021, respectively and is reflected in general and administrative expenses and research and development expenses as determined by the underlying activities.

The following table summarizes the maturity of undiscounted payments due under lease liabilities and the present value of those liabilities as of July 31, 2022 (in thousands):

Years ending April 30,	Operating Leases
2023	$	1,277
2024		1,741
2025		1,778
2026		1,815
2027		1,854
Thereafter		3,431
Total minimum lease payments		11,896
Less amounts representing interest		2,885
Present value of minimum payments		9,011
Current portion		997
Long-term portion	$	8,014