Gritstone bio, Inc. - 10-K filing on 2022-03-10

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

The components of lease costs, which were included in our consolidated statements of operations and comprehensive loss, were as follows (in thousands):


	Year ended December 31,
	2021		2020		2019
Lease cost
Operating lease cost	$	7,973	$	7,511	$	6,382
Short-term lease cost		—		7		271
Total lease cost	$	7,973	$	7,518	$	6,653

Schedule of Supplemental Information Related to Leases

Supplemental information related to leases was as follows (in thousands):


	Year ended December 31,
	2021			2020			2019
Cash paid for amounts included in the measurement of lease liabilities (in thousands):
Operating cash flows from operating leases	$	7,925		$	5,389		$	2,495
New right-of-use assets obtained in exchange for lease obligations (in thousands):
Operating leases	$	6,562		$	3,174		$	12,331
Weighted average remaining lease term (years):
Operating leases		5.30			6.10			7.20
Weighted average discount rate:
Operating leases		7.4	%		9.0	%		9.0	%

Schedule of Minimum Annual Payments Under Lease Agreements

As of December 31, 2021, minimum annual payments under the Company’s lease agreements are as follows (in thousands):


	Lease Financing Obligation
Year ending December 31,
2022	$	9,642
2023		9,501
2024		12,627
2025		10,504
2026		10,217
Thereafter		59,557
Total minimum payments		112,048
Less: Amounts representing interest expense		(6,515	)
Less: Amounts representing lease payments under Boston lease		(79,114	)
Present value of future minimum lease payments		26,419
Less: Current portion of lease liability		(7,483	)
Noncurrent portion of lease liability	$	18,936