KURA ONCOLOGY, INC. (NASDAQ:KURA) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On December 20, 2016, Kura Oncology, Inc. (the “Company”) entered into a sublease (the “New Sublease”) with Wellspring Biosciences LLC (“Wellspring”) to lease approximately 5,216 square feet of office space located in San Diego, California for the Company’s new principal executive offices. The minimum rent payable by the Company under the New Sublease will be approximately $15,900 per month for the first year of the lease, which amount will increase by 3% per year over the term of the lease. The Company currently leases office space located in La Jolla, California to a sublease with Wellspring dated August 29, 2014, as amended (the “Original Sublease”), which expires to the terms described below. The term of the New Sublease will commence on the later of (i) June 1, 2017 or (ii) the date on which Wellspring’s landlord delivers the premises subject to the master lease to Wellspring with certain improvements substantially completed (the “Commencement Date”), and will expire on October 31, 2019, unless terminated earlier.
On December 20, 2016, the Company also entered into a third amendment to the Original Sublease to, among other things, accelerate the expiration date of the Original Sublease to the date that is seven days after the Commencement Date (the “Wellspring Amendment”). Prior to the execution of the Wellspring Amendment, the Original Sublease had been scheduled to expire on October 31, 2019.
Wellspring is a wholly owned subsidiary of Araxes Pharma LLC (“Araxes”). Araxes is a stockholder of the Company and is affiliated with the following director and executive officers of the Company: Troy E. Wilson, Ph.D., J.D., Heidi Henson, Yi Liu, Ph.D., Antonio Gualberto, M.D., Ph.D., Pingda Ren, Ph.D. and Annette North.
The foregoing is only a summary of the material terms of the New Sublease and the Wellspring Amendment, and does not purport to be complete and is qualified in its entirety by reference to the full text of the New Sublease and the Wellspring Amendment, each of which will be filed as exhibits to the Company’s Annual Report on Form 10-K for the year ending December 31, 2016.
Item 1.02 Termination of a Material Definitive Agreement
The information set forth in Item 1.01 above regarding the Wellspring Amendment is incorporated by reference into this Item 1.02.
About KURA ONCOLOGY, INC. (NASDAQ:KURA)
Kura Oncology, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in discovering and developing personalized therapeutics for the treatment of solid tumors and blood cancers. Its segment is engaged in the discovery and development of personalized therapeutics for the treatment of solid tumors and blood cancers. It focuses on the development of small molecule product candidates that targets cell-signaling pathways, which drives the progression of certain cancers. It is developing its lead product candidate, tipifarnib, which is a farnesyl transferase inhibitor, in both solid tumors and blood cancers. It is advancing KO-947, a small molecule inhibitor of extracellular-signal-regulated kinase (ERK), as a treatment for patients with tumors that have mutations in or other dysregulation of the mitogen-activated protein kinase (MAPK), signaling pathway, including pancreatic cancer, colorectal cancer, non-small cell lung cancer (NSCLC) and melanoma. KURA ONCOLOGY, INC. (NASDAQ:KURA) Recent Trading Information
KURA ONCOLOGY, INC. (NASDAQ:KURA) closed its last trading session up +0.05 at 6.25 with shares trading hands.