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Commitments and Contingencies
3 Months Ended
Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

11. Commitments and Contingencies

The Company has entered into a leasing agreement for lab space in Watertown, Massachusetts with an estimated commencement date of June 2, 2020 (the “Lab Lease”). The Lab Lease has a term of 85 months and includes leasing 9,704 square feet of office space. The Lab Lease provides for initial monthly lease payments of $0.06 million per month. The base rent payable over the lease period is $5.4 million.

The Company contracts to conduct research and development activities with third parties. Certain of these contracts commit the Company to pay future milestone payments up to $15.0 million or to pay royalty fees ranging from 3-6% if any of the research results in regulatory approval or commercial revenue for a product. The scope of the services under the research and development contracts can be modified and the contracts cancelled by the Company upon written notice. In some instances, the contracts may be cancelled by the third party upon written notice. If the Company were to cancel these contracts as of March 31, 2020, the Company would be required to pay certain termination costs and other fees of approximately $2.8 million that would be incurred in future periods.

As of March 31, 2020, the Company has non-cancellable purchase commitments for 2020 with certain manufacturing vendors in the amount of approximately $22.6 million.

The Company also has certain payment and other obligations under the SFJ Agreement, which are discussed above in Note 4.