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Dec. 31, 2021 | |||||||||||||||||||||||||||||||||||||
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| SUBSEQUENT EVENTS | NOTE 10 SUBSEQUENT EVENTS In January 2022 the Company entered into a lease agreement for approximately 18,614 square feet of office and laboratory space in Boulder, Colorado. The new lease commences on or around September 1, 2022 and includes escalating rent payments and a term. The lease agreement includes a tenant improvement allowance for $1.0 million of construction costs to be paid for by the landlord and up to an additional $2.0 million of tenant improvement allowance for which the Company will repay the landlord on an amortized straight-line basis over the initial term of the lease, commencing on the commencement date and continuing for the duration of the initial term at 6% interest. Future minimum lease payments are as follows (in thousands):
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