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Subsequent Event | 9 Months Ended
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Sep. 30, 2024
Subsequent Events [Abstract] |
Subsequent Event | 13. Subsequent Event On August 5, 2024, the Company entered into the Termination Agreement. Pursuant to the Termination Agreement, the Company and the Landlord agreed to terminate the Lease subject to the Contingency. The Contingency was met on the date of sale on October 1, 2024, and the lease at One Research Way was terminated on such date. Pursuant to the Termination Agreement, and subject to the Contingency, the Company agreed to surrender the property and pay a total termination fee of approximately $1,420 consisting of (i) a cash payment in the amount of approximately $798 and (ii) a release of a security deposit from the Company’s existing letter of credit in the amount of approximately $622. On October 1, 2024, the Company wrote off the $7,864 net ROU asset, the $12,714 lease liability, and the $9,454 of leasehold improvements associated with the lease at One Research Way in Princeton, New Jersey. This, along with associated broker fees, will result in a net loss on the lease termination of $6,768 in the condensed consolidated statements of operations for the year ended December 31, 2024. On September 3, 2024, the Company entered into a new sublease agreement with Hengrui (USA) LTD., for approximately 14,201 square feet of office space located at 400 Alexander Park Drive, Suite 301, in Princeton, New Jersey for the Company’s new headquarters. The term of the lease is approximately 2 years, commencing on October 1, 2024 and expiring on February 28, 2027.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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