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Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies Operating Leases Our properties consist of leased office, laboratory, warehouse and manufacturing facilities. Our administrative offices and research facilities are located in San Diego, California. In addition, we have an office in Ewing, New Jersey. We also lease a building in Minnetonka, Minnesota consisting of office, laboratory, manufacturing and warehousing space. We lease an aggregate of approximately 194,000 square feet of space. In March 2022, we entered into an agreement for assignment and assumption of lease with Seismic Software, Inc. pursuant to which effective January 1, 2023, we assumed Seismic’s office lease, as amended with Kilroy Realty L.P. for approximately 73,238 square feet of space in office and research facilities which commenced on December 1, 2022. We also pay a pro rata share of operating costs, insurance costs, utilities and real property taxes. Additionally, we lease certain office equipment under operating leases. Total rent expense was approximately $3.3 million, $2.0 million and $2.3 million for the years ended December 31, 2022, 2021 and 2020, respectively. Approximate annual future minimum operating lease payments as of December 31, 2022 are as follows (in thousands):
Year: |  | Operating Leases
2023 |  | $ | 7,800 |
2024 |  | 6,173 |
2025 |  | 5,464 |
2026 |  | 5,149 |
2027 |  | 5,296 |
Thereafter |  | 17,133 |
Total minimum lease payments |  | $ | 47,015 |
Less imputed interest |  | (12,227) |
Total |  | $ | 34,788 |
The weighted-average remaining lease term of our operating leases is approximately 7.64 years. Legal Contingencies From time to time, we may be involved in disputes, including litigation, relating to claims arising out of operations in the normal course of our business. Any of these claims could subject us to costly legal expenses and, while we generally believe that we have adequate insurance to cover many different types of liabilities, our insurance carriers may deny coverage or our policy limits may be inadequate to fully satisfy any damage awards or settlements. If this were to happen, the payment of any such awards could have a material adverse effect on our consolidated results of operations and financial position. Additionally, any such claims, whether or not successful, could damage our reputation and business. We currently are not a party to any legal proceedings, the adverse outcome of which, in management’s opinion, individually or in the aggregate, would have a material adverse effect on our consolidated results of operations or financial position.

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