Vericel Corp
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Item 2. Properties
The following table summarizes information regarding our leased properties as of January 31, 2025:
| Location | Primary Use | Approximate Square Footage | Lease Expiration Date | Renewal Option |
|---|---|---|---|---|
| Burlington, Massachusetts | Manufacturing, laboratory and office space* | 126,000 | June 2036 | One ten-year term |
| Cambridge, Massachusetts | Manufacturing, laboratory and office space | 57,000 | February 2032 | One five-year term |
| Ann Arbor, Michigan | Office space | 6,000 | April 2025 | None |
- The Burlington facility is substantially complete, and we are currently utilizing the facility's office space. Once validated, the facility's manufacturing component will eventually become the primary manufacturing facility for MACI and Epicel.
We believe that our facilities are adequate to meet our current needs. Additional facilities may be required to support expansion of our manufacturing operations and research and development activities. See Note 5, “Leases”in our accompanying consolidated financial statements for further information.
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