In November 2021, the Company entered into a noncancelable operating lease for its current headquarters. The lease, as amended, commenced in January 2022 and expires in January 2034. A portion of the facility was subleased to Attovia Therapeutics, Inc. (“Attovia”), a related party, through March 2025. See Note 11—Related party transactions for additional information. The Company also leases office space in Europe and Asia as of June 30, 2026.

In April 2026, the Company entered into a lease for manufacturing, research and office space in Fremont, California, and the Company recognized a right-of-use asset of $10.8 million and a lease liability of $10.7 million upon delivery of the premises for construction of leasehold improvements in June 2026. The initial term of the lease is approximately 158 months depending on the timing of completion of leasehold improvements, and the Company has an option to extend the lease for one additional 5-year term. The Company is eligible to receive up to $7.7 million in tenant improvement allowances which are recorded as a reduction of the related lease liability until they are received from the landlord. In connection with this lease agreement, the Company restricted $1.3 million at SVB to secure a standby letter of credit in lieu of a security deposit.

As of June 30, 2026, the Company has one lease which has not yet commenced or been recognized, since the facility is not yet available for the Company’s use. Fixed lease payments for this lease in China which is expected to commence in the third quarter of 2026 are $1.3 million over the five-year lease term.