Global Blood Therapeutics,Inc. (NASDAQ:GBT) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry into a Material Definitive Agreement. |
On March17, 2017, Global Blood Therapeutics, Inc. (the Company)
entered into a lease (the Lease) with HCP Oyster Point III LLC,
as landlord (HCP) for approximately 67,185 square feet of space
in a building located at 171 Oyster Point Boulevard in South San
Francisco, California (the Premises).
The term of the Lease will commence on the later of
(i)December15, 2017, or (ii)the date that the Premises are ready
for occupancy per the terms of the Lease (the Commencement Date),
and will expire on the day prior to the tenth (10th) anniversary of the Commencement
Date. If the Commencement Date does not occur on or before
August1, 2018, then the Company shall have the right to terminate
the Lease upon written notice to Landlord.
The monthly base rent for the Premises under the Lease will be
equal to $4.95 per rentable square foot of the Premises, payable
by the Company to HCP for the first year of the term of the
Lease, and will increase as follows for the remaining nine years
of the Lease term as follows:
|
Lease Year |
Annualized Base Rent | Monthly Installment of Base Rent | Approximate MonthlyBase Rent per RSF | |||||||||
|
1 (months 1 6) |
$ | 1,995,424.20 | $ | 166,285.35 | $ | 4.95 | ||||||
|
1 (months 7 12) |
$ | 3,990,789.00 | $ | 332,565.75 | $ | 4.95 | ||||||
| $ | 4,127,846.40 | $ | 343,987.20 | $ | 5.12 | |||||||
| $ | 4,272,321.02 | $ | 356,026.75 | $ | 5.30 | |||||||
| $ | 4,421,852.26 | $ | 368,487.69 | $ | 5.48 | |||||||
| $ | 4,576,617.09 | $ | 381,384.76 | $ | 5.68 | |||||||
| $ | 4,736,798.69 | $ | 394,733.22 | $ | 5.88 | |||||||
| $ | 4,902,586.64 | $ | 408,548.89 | $ | 6.08 | |||||||
| $ | 5,074,177.17 | $ | 422,848.10 | $ | 6.29 | |||||||
| $ | 5,251,773.37 | $ | 437,647.78 | $ | 6.51 | |||||||
| $ | 5,435,585.44 | $ | 452,965.45 | $ | 6.74 |
During the term of the Lease, the Company will pay its share of
operating expenses, taxes and any other expenses payable under
the Lease. The Company has (i)an option right to extend the Lease
term for a period of ten (10)years, and (ii)a right of first
negotiation with respect to 165,000 rentable square feet located
in a building to be constructed by Landlord at 181 Oyster Point
Boulevard in South San Francisco.
The foregoing description of the Lease does not purport to be
complete and is qualified in its entirety by reference to the
Lease, a complete copy of which is filed herewith as Exhibit 10.1
and incorporated by reference herein.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
|
Exhibit No. |
Description |
|
| 10.1 |
Lease between the Company and HCP Oyster Point III LLC, dated March17, 2017 |
About Global Blood Therapeutics, Inc. (NASDAQ:GBT)
Global Blood Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company’s segment is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. It is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD) and is evaluating GBT440 in SCD subjects in an ongoing Phase I/II clinical trial. SCD is a genetic disease marked by red blood cell (RBC) destruction and occluded blood flow and hypoxia, leading to anemia, stroke, multi-organ failure, severe pain crises, and shortened patient life span. GBT440 inhibits abnormal hemoglobin polymerization, the underlying mechanism of RBC sickling. It is also engaged in other research and development activities targeted towards hereditary angioedema (HAE). Global Blood Therapeutics, Inc. (NASDAQ:GBT) Recent Trading Information
Global Blood Therapeutics, Inc. (NASDAQ:GBT) closed its last trading session up +1.70 at 38.00 with 1,047,682 shares trading hands.