Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Additional Information Related to Operating Leases

The following table contains additional information related to the Company’s operating leases:

Location	Use	Approximate Square Footage	Commencement Dates	Expiration Dates
Seattle, WA	Office/Laboratory	48,000	March 2019 to September 2020	December 2026 to April 2028
Cambridge, MA	Office/Laboratory	56,000	March 2019 to January 2020	June 2027 to February 2028
South San Francisco, CA	Office/Laboratory	99,000	December 2019 to April 2022	April 2030
Rochester, NY	Office/Laboratory	3,000	January 2022	January 2027
Bothell, WA	Office/Laboratory/Manufacturing	80,000	January 2023	January 2039

Summary of Lease Costs

The following table summarizes the Company’s lease costs:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands)
Operating lease cost	$	4,728	$	6,764	$	13,816	$	20,806
Short-term lease cost		1,108		-		3,659		-
Variable lease cost		2,195		1,890		6,297		5,801
Total lease cost	$	8,031	$	8,654	$	23,772	$	26,607

Reconciliation of Undiscounted Operating Lease Cash Flows by Fiscal Year to Present Value of Operating Lease Liabilities

The following table reconciles the Company’s undiscounted operating lease cash flows by fiscal year to the present value of the operating lease liabilities as of September 30, 2024 (in thousands):

2024 (remaining 3 months)	$	3,572
2025		21,768
2026		22,471
2027		19,899
2028		15,226
2029 and thereafter		93,495
Total undiscounted lease payments		176,431
Less: imputed interest		(80,347	)
Present value of operating lease liabilities		96,084
Less: current portion of operating lease liabilities	$	(10,601	)
Operating lease liabilities, net of current portion	$	85,483