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An April 2019 lease for office and laboratory space that was built over the course of 2020 and 2021. Pursuant to the terms of the original lease agreement, the first phase of the lease commenced in October 2020 (rent payments for the first phase began in August 2021) and the second phase of the lease commenced in January 2021 (rent payments for the second phase began in February 2022). The lease is subject to fixed-rate rent escalations and provides for $23.4 million in tenant improvements and the option to extend the lease for two terms of five years each, which are not reasonably certain of exercise. The Company determined that it is the accounting owner of all tenant improvements. The Company maintains a security deposit of $9.7 million in the form of a letter of credit, which is included in restricted cash as of September 30, 2022 and December 31, 2021. Upon commencement of the first phase of this lease in October 2020, the Company recorded an operating lease ROU asset of $66.8 million and a lease liability of $68.8 million and upon commencement of the second phase of this lease in January 2021, the Company recorded an operating lease ROU asset of $22.0 million and a corresponding lease liability of $23.0 million. Subsequently, during the second quarter of 2021, the Company amended the rent commencement dates of the first and second phases of this lease. Pursuant to the terms of the amendment, the lease will terminate in February 2034, which is 12 years from the amended second phase rent commencement date. As a result, the Company recorded an increase in the ROU asset of $0.5 million and lease liability of $0.5 million.

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An August 2020 lease for a 100,000 square foot manufacturing facility in Research Triangle Park, North Carolina. Construction of the manufacturing facility began in 2020 and the Company expects to begin making rent payments in the first quarter of 2023. The lease will terminate 15 years from the rent commencement date. The lease is subject to fixed-rate rent escalations and provides for $20.0 million in tenant improvements and the option to extend the lease for two terms of five years each, which were not reasonably certain of exercise as of September 30, 2022. The Company determined that it is the accounting owner of all tenant improvements under the lease. Upon executing the lease in August 2020, the Company made a security deposit of $1.5 million in the form of a letter of credit, which is included in restricted cash as of September 30, 2022 and December 31, 2021. Upon commencement of this lease in June 2022, the Company recorded an operating lease ROU asset of $13.6 million and a lease liability of $30.4 million. The variance between the ROU asset and lease liability recorded relates to $16.8 million of tenant improvement allowance completed through the lease commencement date. The $16.8 million of tenant improvement allowance is presented as an operating cash inflow and investing cash outflow within the Company’s condensed consolidated statements of cash flows. The rent payments are subject to adjustment following the determination of the total project costs of the landlord and represent in substance fixed payments that are included in the total future minimum lease payments.

The following table summarizes operating lease costs and sublease income (in thousands):


	Three Months Ended September 30,					Nine Months Ended September 30,
	2022			2021		2022			2021
Operating lease costs	$	5,306		$	4,557	$	14,161		$	13,660
Variable lease costs		643			588		3,310			1,162
Short-term lease costs		38			383		308			761
Sublease income		(331	)		—		(993	)		—
Total	$	5,656		$	5,528	$	16,786		$	15,583

The following table summarizes the lease term and discount rate for operating leases:


	September 30, 2022			December 31, 2021
Weighted-average remaining lease term (years)	11.2			11.1
Weighted-average discount rate		7.5	%		7.0	%

The following table summarizes the lease costs for amounts included in the measurement of lease liabilities (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Operating cash flows used for operating leases	$	4,603	$	3,058	$	14,057	$	7,053
Operating lease liabilities arising from obtaining ROU assets		250		—		35,877		24,164

At September 30, 2022, the future minimum lease payments for the Company’s operating leases for each of the next five years and total thereafter were as follows (in thousands):


Remainder of 2022	$	4,687
2023		22,629
2024		23,614
2025		24,179
2026		21,344
Thereafter		168,733
Undiscounted lease payments		265,186
Less: imputed interest		(90,288	)
Total operating lease liabilities	$	174,898

In August 2021, the Company executed a lease amendment to its April 2019 lease for office and laboratory space in Cambridge, Massachusetts to occupy additional space. The term of this lease will run concurrent with the term of the April 2019 lease. The initial estimate of the minimum amount of undiscounted lease payments due under this lease is $11.1 million. As the lease had not yet commenced as of September 30, 2022, the Company has not recorded an operating lease ROU asset or lease liability for this lease in the accompanying condensed consolidated balance sheets. The tabular disclosure of minimum lease payments above does not include payments due under this lease.