XML 47 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments and Contingencies
12 Months Ended
Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

 

NOTE 8 – COMMITMENTS AND CONTINGENCIES

Sangamo occupies office and laboratory space under operating leases in Richmond, CA. In May 2018, Sangamo amended its lease agreement for its corporate headquarters wherein the lease was extended through August 2026. The Company has three additional properties located in Richmond, CA. This includes two leases, one to occupy approximately 7,700 square feet of research and office space that expires in August 2019, and another to occupy approximately 6,200 square feet of office space that expires in July 2021. Sangamo also has two build-to-suit leases to occupy approximately 41,400 square feet of space in Richmond, CA that expires in December 2021 and approximately 87,700 square feet of space in Brisbane, CA that expires in May 2029. In addition, the Company leases a property in Valbonne, France with approximately 14,036 square feet of research and office space that expires in June 2022. Rent expense related to these lease agreements was $2.3 million, $1.1 million, and $1.0 million for 2018, 2017 and 2016, respectively. Future minimum payments under lease obligations at December 31, 2018 consist of the following (in thousands):

 

 

 

 

 

 

 

Fiscal Year:

 

 

 

 

2019

 

$

3,671

 

2020

 

 

5,950

 

2021

 

 

6,042

 

2022

 

 

5,608

 

2023

 

 

5,649

 

Thereafter

 

 

29,498

 

Total minimum payments

 

$

56,418

 

 

The Company also has $1.3 million of license obligations related to its intellectual property.

Contingencies

Sangamo is not party to any material pending legal proceeding. From time to time, Sangamo may be involved in legal proceedings arising in the ordinary course of business.