Clearside Biomedical, Inc. (NASDAQ:CLSD) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry into a Material Definitive Agreement. |
On November21, 2016, Clearside Biomedical, Inc. (the
Company) entered into an Office Lease
Agreement (the Lease) with BRE/COH GA
LLC, a Delaware limited liability company (the
Landlord), under which the Company will
lease 18,744 square feet of space for its corporate headquarters
to be located at 900 North Point Parkway, Suite 250, Alpharetta,
Georgia 30005. In addition, the Company has agreed to rent an
additional 963 square feet of space beginning when the Company
notifies the Landlord of its intent to begin leasing that space,
but not later than the first day of the 18th month following the commencement
date, which is the date on which the Landlords work is
substantially complete and which is targeted to be on or about
March1, 2017. The Company also has a one-time right of first
refusal to rent an additional 910 square feet of space in the
building on the terms and at the rates set forth in the Lease.
Under the Lease, the Company will pay an initial annual base rent
of $421,740, or $35,145 per month, subject to an increase of
3%per year. In addition, the Company will pay its pro rata share
of the Landlords annual operating expenses associated with the
premises, calculated as set forth in the Lease. The Lease also
provides for an initial 6-month base rent abatement period.
The term of the Lease will continue for 78 months after the
commencement date. If the Landlords work is not substantially
complete by April15, 2017, the Company will be entitled to
additional rent abatements as specified in the Lease. The Company
has an option to renew the Lease for one additional term of five
years. If exercised, rent during the renewal term will be at the
prevailing market rate as defined in the Lease.
The foregoing is a summary description of certain terms of the
Lease, is not complete and is qualified in its entirety by
reference to the text of the Lease, a copy of which is attached
as Exhibit 10.1 to this Current Report.
| Item9.01 | Financial Statements and Exhibits. |
(d) Exhibits
|
Exhibit Number |
ExhibitDescription |
|
| 10.1 |
Office Lease Agreement, dated November 21, 2016, by and between the Registrant and BRE/COH GA LLC. |
About Clearside Biomedical, Inc. (NASDAQ:CLSD)
Clearside Biomedical, Inc. is a late-stage clinical biopharmaceutical company. The Company is developing drug therapies to treat blinding diseases of the eye. The Company’s product candidates are focused on diseases affecting the retina and choroid, especially diseases associated with macular edema, and are injected into the suprachoroidal space (SCS) adjacent to the choroid, using its SCS Microinjector. With the SCS injection, its product candidates are directly administered to the retina and choroid. Its product candidates are CLS-1001, CLS-1003 and CLS-1002. CLS-1001 and CLS-1003 are based on commonly used ophthalmic drugs. Its CLS-1001 program is being developed for the treatment of macular edema associated with non-infectious uveitis. CLS-1001 consists of an SCS injection of Zuprata, its preservative-free formulation of the corticosteroid triamcinolone acetonide (TA), specifically designed to be administered through its SCS Microinjector. Clearside Biomedical, Inc. (NASDAQ:CLSD) Recent Trading Information
Clearside Biomedical, Inc. (NASDAQ:CLSD) closed its last trading session down -0.67 at 21.72 with 75,351 shares trading hands.
