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Commitments and Contingences | 3 Months Ended
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Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract] |
Commitments and Contingences | 12. Commitments and Contingencies Operating Leases The Company leases office and laboratory space in Menlo Park, CA, Redwood City, CA, and Boston, MA. As of June 30, 2021, except as described below, there have been no material changes in lease obligation from those disclosed in Note 12 to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. On June 25, 2021, the Company entered into an amendment to the Menlo Park lease to extend the term of the lease from March 31, 2022 to June 30, 2022 and replace the previously leased premises (known as 173 and 175-177 Jefferson Drive) with a nearby premises (known as 235 Constitution Drive). The lease commenced on July 15, 2021 and expires on June 30, 2022. In connection with these changes, the Company will incur monthly rent payments ranging from $87,286 to $89,904, increasing over the remaining term of the lease. Given the lease is short-term in nature, the Company is using the practical expedient for the lease and has not recorded a right of use asset or lease liability. Therefore, the Company will recognize rent expense on a straight-line basis over the lease term. With the newly amended lease, the future minimum lease payments under all non-cancelable operating lease obligations as of June 30, 2021 were as follows (in thousands):
2021 (remaining six months) |  | $ | 973 |
2022 |  |  | 2,933 |
2023 |  |  | 3,429 |
2024 |  |  | 3,525 |
2025 |  |  | 3,624 |
2026 and thereafter |  |  | 13,747 |
Total |  | $ | 28,231 |

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