XML 22 R12.htm IDEA: XBRL DOCUMENT v3.21.2
Leases
9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Leases Leases
The Company enters into lease arrangements for its facilities as well as certain equipment, classified either as operating or finance leases.
The Company has a lease agreement, as amended by the execution of two subsequent amendments, for approximately 33,300 square feet of office space in Seattle, Washington for the Company’s principal executive offices, a laboratory for research and development, and related uses. The lease commenced on January 15, 2020 and expires on February 1, 2029, with the option to extend the lease for two five-year terms.  The lease provides for a tenant improvement allowance of up to $9.5 million, which had been fully utilized as of September 30, 2021.
The Company has a lease agreement for approximately 6,272 square feet of office space in Seattle, Washington, for additional office and laboratory space for research and development and related uses. In March 2021, the Company executed an amendment to this lease pursuant to which the contractual lease term was extended through September 30, 2026, unless terminated earlier, with the option to extend the lease for an additional 28-month term. The execution of this amendment was accounted for as a modification to the lease due to the extension of the lease term and an increase in lease payments, and the Company recorded an increase in the lease liability and related right-of-use asset of $1.6 million.

The Company had a lease agreement for approximately 10,946 square feet of office space in Vancouver, Canada. On June 30, 2020, the Company entered into a lease amendment agreement. Under the amended agreement, the lease term expired on June 30, 2020, and the Company paid an early termination fee of $0.5 million. The Company accounted for the lease amendment as a lease termination which resulted in an extinguishment of the lease liability and the write-off of the related right-of-use asset. After incurring additional expenses included in the termination fee, the Company recognized a loss of $0.3 million on the termination of the lease, which was recorded in general and administrative expenses in the nine months ended September 30, 2020. In addition, the Company wrote-off leasehold improvements and other property and equipment associated with the lease and incurred a loss on disposal of $0.2 million in the nine months ended September 30, 2020.
As of September 30, 2021, and December 31, 2020, the Company’s operating lease right-of-use assets were $11.0 million and $10.2 million, respectively.  As of September 30, 2021, and December 31, 2020, the Company’s finance lease right-of-use assets were $0.2 million and $0.3 million, respectively.
Leases Leases
The Company enters into lease arrangements for its facilities as well as certain equipment, classified either as operating or finance leases.
The Company has a lease agreement, as amended by the execution of two subsequent amendments, for approximately 33,300 square feet of office space in Seattle, Washington for the Company’s principal executive offices, a laboratory for research and development, and related uses. The lease commenced on January 15, 2020 and expires on February 1, 2029, with the option to extend the lease for two five-year terms.  The lease provides for a tenant improvement allowance of up to $9.5 million, which had been fully utilized as of September 30, 2021.
The Company has a lease agreement for approximately 6,272 square feet of office space in Seattle, Washington, for additional office and laboratory space for research and development and related uses. In March 2021, the Company executed an amendment to this lease pursuant to which the contractual lease term was extended through September 30, 2026, unless terminated earlier, with the option to extend the lease for an additional 28-month term. The execution of this amendment was accounted for as a modification to the lease due to the extension of the lease term and an increase in lease payments, and the Company recorded an increase in the lease liability and related right-of-use asset of $1.6 million.

The Company had a lease agreement for approximately 10,946 square feet of office space in Vancouver, Canada. On June 30, 2020, the Company entered into a lease amendment agreement. Under the amended agreement, the lease term expired on June 30, 2020, and the Company paid an early termination fee of $0.5 million. The Company accounted for the lease amendment as a lease termination which resulted in an extinguishment of the lease liability and the write-off of the related right-of-use asset. After incurring additional expenses included in the termination fee, the Company recognized a loss of $0.3 million on the termination of the lease, which was recorded in general and administrative expenses in the nine months ended September 30, 2020. In addition, the Company wrote-off leasehold improvements and other property and equipment associated with the lease and incurred a loss on disposal of $0.2 million in the nine months ended September 30, 2020.
As of September 30, 2021, and December 31, 2020, the Company’s operating lease right-of-use assets were $11.0 million and $10.2 million, respectively.  As of September 30, 2021, and December 31, 2020, the Company’s finance lease right-of-use assets were $0.2 million and $0.3 million, respectively.