The Company maintains leases for office space and research laboratory space, and as of July 31, 2025, all leases were classified as operating leases. These leases have remaining lease terms ranging from 1 to 10 years, some of which include options to extend or terminate the leases.


Location	Function	Square footage	Initial Lease Term End Date	Lease Extension Options
Framingham, MA	Corporate Headquarters	32,110	2035	None
Cambridge, MA	Office Space	8,300	2028	None
Salt Lake City, UT	Office Space	6,200	2032	None
Cambridge, MA	Laboratory facility	500	2028	Option to renew annually
Porton Down, UK	Laboratory and office space facility	13,400	2028	None
Dublin, Ireland	Office Space	1,100	2028	None
Tokyo, Japan	Office Space	237	2026	None
Zug, Switzerland	Office Space	7,200	2025	Option to renew annually
Berlin, Germany	Office Space	215	2026	None

Pursuant to the headquarter lease in Framingham that was signed in July 2024, but had not commenced as of July 31, 2025, the Company provided a security deposit in the form of a letter of credit in the amount of $0.7 million which is classified in other assets on its condensed consolidated balance sheet. The office space at 200 Crossing Boulevard, Framingham, Massachusetts became the Company's corporate headquarters in September 2025. The Company continues to utilize the Cambridge office for the manufacture, sale or distribution of prescription drugs.

Total rent expense was approximately $0.8 million and $0.6 million for the three months ended July 31, 2025 and 2024, respectively, and is reflected in selling, general and administrative expenses and research and development expenses as determined by the underlying activities.

The following table summarizes the maturity of undiscounted payments due under lease liabilities and the present value of those liabilities as of July 31, 2025 (in thousands):


Years ending April 30,		Operating Leases
2026	$	1,413
2027		1,780
2028		1,725
2029		769
2030		234
Thereafter		430
Total minimum lease payments		6,351
Less amounts representing interest		210
Present value of minimum payments		6,141
Current portion		2,122
Long-term portion	$	4,019

Total lease payments in the table above excludes approximately $11.2 million of legally binding minimum lease payments for the headquarters lease in Framingham, MA that was signed in July 2024 but had not commenced as of July 31, 2025.