LEASES

12 Months Ended

Dec. 31, 2021

19. LEASES

The Company has real estate operating leases in Cambridge, Andover and Burlington, Massachusetts, Dublin and Columbus, Ohio, and Durham, NC that provide for scheduled annual rent increases throughout each lease’s term. The Company has also identified leases embedded in certain of its manufacturing and supply agreements as the Company determined that it controls the use of the facilities and related equipment therein. For more information related to manufacturing and supply agreements with Thermo Fisher Scientific, Inc. (“Thermo”) and Catalent, Inc. (“Catalent”), please refer to Note 21, Commitments and Contingencies.

As of December 31, 2021, ROU assets for operating leases were $45.5 million and operating lease liabilities were $56.6 million. The following table contains a summary of the lease costs recognized and other information pertaining to the Company’s operating leases for the periods indicated:


	For the Year Ended December 31,
	2021			2020
	(in thousands)
Lease cost
Operating lease cost	$	28,737		$	18,978
Variable lease cost		18,742			17,065
Total lease cost	$	47,479		$	36,043

Other information
Operating lease payments	$	24,449		$	19,344
Operating lease liabilities arising from obtaining ROU assets		13,225			59,327
Weighted average remaining lease term	3.5 years			4.6 years
Weighted average discount rate		7.6	%		7.6	%

The following table summarizes maturities of lease liabilities and the reconciliation of lease liabilities as of December 31, 2021:


	For the Year Ended December 31, 2021
	(in thousands)
2022	$	18,702
2023		18,326
2024		17,582
2025		9,052
2026		571
Thereafter		—
Total minimum lease payments		64,233
Less: imputed interest		(7,672	)
Total operating lease liabilities	$	56,561
Included in the consolidated balance sheet:
Current portion of lease liabilities within other current liabilities	$	15,049
Lease liabilities		41,512
Total operating lease liabilities	$	56,561