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Note 6 - Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
Commitments and Contingencies Disclosure [Text Block] |
6 . | Commitments and Contingencies
Leases We lease 28,275 square feet of laboratory and office space in San Diego, California under a lease that began on December 1, 2016 and expires on April 15, 2024. In May 2018, we entered into a lease amendment to expand our space in San Diego, adding an additional 23,873 square feet. The lease of the additional space began on September 7, 2018 and expires on December 31, 2025. We have one 5 -year option to renew this lease on expiration. We lease 26,067 square feet of laboratory, office and warehouse space in Redwood City, California. The lease for the Redwood City space expires on May 31, 2019. On March 15, 2018, we entered into a sublease agreement for the Redwood City property. The sublease agreement expires on May 31, 2019. We also lease 1,898 square feet of office space in Jersey City, New Jersey. The lease for the Jersey City office space expires on June 30, 2019. For the year ended December 31, 2018, rent expense for all properties was $3.2 million. We believe our facilities are adequate and suitable for our current needs and that we will be able to obtain new or additional leased space in the future when necessary. Annual future minimum lease payments as of December 31, 2018 are as follows (in thousands):
Year ended December 31: |  |  |  |
2019 |  | $ | 3,195 |
2020 |  |  | 2,722 |
2021 |  |  | 2,801 |
2022 |  |  | 2,883 |
2023 |  |  | 2,967 |
Thereafter |  |  | 3,274 |
Total future minimum lease payments |  | $ | 17,842 |
Rent expense under all operating leases totaled $3.2 million, $3.1 million and $2.1 million for the years ended December 31, 2018, 2017 and 2016, respectively. Clinical Development Agreements We enter into agreements with clinical sites and clinical research organizations for the conduct of our clinical trials. We make payments to these sites and organizations based in part on the number of eligible patients enrolled and the length of their participation in the clinical trials. Under certain of these agreements, we may be subject to penalties in the event that we prematurely terminate these agreements. At this time, due to the variability associated with clinical site and contract research organization agreements, we are unable to estimate with certainty the future costs we will incur. We intend to use our current financial resources to fund our obligations under these commitments.

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