HALOZYME THERAPEUTICS, INC. (NASDAQ:HALO) Files An 8-K Entry into a Material Definitive AgreementItem 9.01 Entry into a Material Definitive Agreement.
On June 30, 2017, Halozyme Therapeutics, Inc., a Delaware corporation (the “Company”), through its subsidiary Halozyme, Inc., a California corporation (“Halozyme” and together with the Company, the “Companies”) entered into (i) a First Amendment to Amended and Restated Lease (the “11388 Lease Amendment”) with BMR-11388 Sorrento Valley Road LP (“BMR-11388”) for approximately 27,575 square feet of space in office and research facilities located at 11388 Sorrento Valley Road, San Diego, California, and (ii) a First Amendment to Lease (the "11404/11408 Lease Amendment” and together with the 11388 Lease Amendment, the "Lease Amendments”) with BMR-Sorrento Plaza LLC (“BMR”) for approximately 30,371 square feet of space in office and research facilities located at 11404 and 11408 Sorrento Valley Road, San Diego, California. The Lease Amendments effectively extend the Company’s tenancy at these facilities for an additional five years.
The 11388 Lease Amendment extension commences on January 15, 2018 and expires on January 14, 2023, subject to an early termination option in favor of the Company. The Company will pay base rent to BMR-11388 under the 11388 Lease Amendment beginning in January 2018 as set forth below:
PeriodMonthly Base Rent
January 15, 2018 to January 14, 2019$75,831.25
January 15, 2019 to January 14, 2020$78,037.25
January 15, 2020 to January 14, 2021$80,243.25
January 15, 2021 to January 14, 2022$82,725.00
January 15, 2022 to January 14, 2023$85,206.75
The 11404/11408 Lease Amendment extension commences on January 15, 2018 and expires on January 14, 2023, subject to an early termination option in favor of the Company. The Company will pay base rent to BMR under the 11404/11408 Lease Amendment beginning in January 2018 as set forth below:
PeriodMonthly Base Rent
January 15, 2018 to January 14, 2019$83,520.25
January 15, 2019 to January 14, 2020$85,949.93
January 15, 2020 to January 14, 2021$88,379.61
January 15, 2021 to January 14, 2022$91,113.00
January 15, 2022 to January 14, 2023$93,846.39
On June 30, 2017, the Companies entered into a Second Modification to Lease (the “11436 Lease Amendment”) with Cal-Sorrento, Ltd., a California limited partnership (“Cal-Sorrento”) for approximately 18,000 square feet of space in office and research facilities located at 11436 Sorrento Valley Road, San Diego, California. The 11436 Lease Amendment effectively extends the Companies’ tenancy at this facility for an additional five years.
The 11436 Lease Amendment extension commences on February 1, 2018 and expires on January 31, 2023, subject to an early termination option in favor of the Companies. The Companies will pay base rent to Cal-Sorrento under the 11436 Lease Amendment beginning in February 2018 as set forth below:
PeriodMonthly Base Rent
February 1, 2018 to January 31, 2019$27,900.00
February 2019$14,369.00
March 1, 2019 to January 31, 2020$28,737.00
February 2020$14,800.00
March 1, 2020 to January 31, 2021$29,599.00
February 2021$15,244.00
March 1, 2021 to January 31, 2022$30,487.00
February 2022$15,701.00
March 1, 2022 to January 31, 2023$31,402.00
The preceding description of the Lease Amendments and the 11436 Lease Amendment is a summary of the material terms of such lease amendments and does not purport to be complete, and is qualified in its entirety by copies of the Lease Amendments and the 11436 Lease Amendment which are attached as exhibits to this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
The information set forth in the Exhibit Index immediately following the page to this Current Report on Form 8-K is incorporated by reference into this Item 9.01.
HALOZYME THERAPEUTICS INC ExhibitEX-10.1 2 ex101bmr-11388sorrentovall.htm EXHIBIT 10.1 Exhibit Exhibit 10.1FIRST AMENDMENT TO AMENDED AND RESTATED LEASETHIS FIRST AMENDMENT TO AMENDED AND RESTATED LEASE (this “Amendment”) is entered into as of this 30th day of June,…To view the full exhibit click here
About HALOZYME THERAPEUTICS, INC. (NASDAQ:HALO)
Halozyme Therapeutics, Inc. is a biotechnology company focused on developing and commercializing oncology therapies. The Company operates in research, development and commercialization of enzymes segment. This segment also includes research and development, and bulk rHuPH20 manufacturing activities conducted under its collaborative agreements with third parties, and product sales of Hylenex recombinant. Its development pipeline consists of clinical-stage product candidates in oncology. Its lead oncology program is PEGPH20 (polyethylene glycol (PEG)ylated recombinant human hyaluronidase), a molecular entity being developed for the systemic treatment of tumors, which accumulate HA. It is in Phase II and Phase III clinical testing for PEGPH20 in stage IV pancreatic ductal adenocarcinoma (Studies 109-202 and 109-301); Phase Ib clinical testing in non-small cell lung cancer (Study 107-201), and in Phase Ib clinical testing in non-small cell lung cancer and gastric cancer (Study 107-101).
