EVOKE PHARMA, INC. (NASDAQ:EVOK) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement.
On December 19, 2016, Evoke Pharma, Inc. (the Company) entered
into an Office Lease Agreement (the Lease) with SB Corporate
Centre III-IV, LLC (the Landlord) to which the Company leased
approximately 3,031 rentable square feet of space from the
Landlord at 420 Steven Avenue, Suite 370, Solana Beach, CA
92075.The Company will use the office space as its new corporate
headquarters. The Lease will commence on January 1, 2017 and will
expire on December 31, 2018 (the Initial Lease Term), unless
earlier terminated, with an option to extend the Initial Lease
Term for an additional two years subject to specified prior
written notice. The Lease provides for, among other things, a
monthly base rent during the Initial Lease Term in the amounts
set forth in the table below:
|
Months |
Monthly Basic Rent |
|
|
1-12 |
$ |
11,214.70 |
|
13-24 |
$ |
11,551.14 |
If the Initial Lease Term is extended for the optional two-year
period, the monthly base rent will be the then prevailing base
rental rate for comparable space in the same submarket, as
determined by the Landlord and accepted by the Company to the
terms of the Lease. The Lease contains customary provisions
allowing the Landlord to terminate the Lease if the Company is
rendered insolvent, files a petition in bankruptcy, makes an
assignment for the benefit of creditors or has failed to remedy a
breach of any of its obligations under the Lease within time
periods specified in the Lease.
In addition to rent, the Company agreed to pay a portion of the
taxes and utility, maintenance and other operating costs paid or
accrued in connection with the ownership and operation of the
property.
The foregoing description of the Lease does not purport to be
complete and is qualified in its entirety by the Lease, a copy of
which the Company intends to file with its Annual Report on Form
10-K for the year ending December 31, 2016.
About EVOKE PHARMA, INC. (NASDAQ:EVOK)
Evoke Pharma, Inc. is a specialty pharmaceutical company. The Company is focused primarily on the development of drugs to treat gastrointestinal (GI) disorders and diseases. The Company is developing EVK-001, a metoclopramide nasal spray for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women. EVK-001 is a formulation of Metoclopramide drug, designed to provide systemic delivery of metoclopramide through intranasal administration. The Company has evaluated EVK-001 in a multicenter, randomized, double-blind, placebo-controlled parallel group, dose-ranging Phase IIb clinical trial. The Company has commenced a Phase III clinical trial of EVK-001 in female patients with symptoms associated with acute and recurrent diabetic gastroparesis. The Phase III clinical trial is a multicenter, randomized, double-blind, placebo-controlled, parallel-group study evaluating the efficacy, safety and population pharmacokinetics of EVK-001 in adult females. EVOKE PHARMA, INC. (NASDAQ:EVOK) Recent Trading Information
EVOKE PHARMA, INC. (NASDAQ:EVOK) closed its last trading session down -0.02 at 2.00 with 402,665 shares trading hands.