NEUROCRINE BIOSCIENCES, INC. (NASDAQ:NBIX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On June 5, 2017, Neurocrine Biosciences, Inc. (the “Company”) entered into a First Amendment to Amended and Restated Lease (the “Lease Amendment”) with Kilroy Realty, L.P. (the “Landlord”), amending that certain Amended and Restated Lease between the Company and the Landlord, dated November 1, 2011 (the “Lease”), to which the Company leases its principal executive offices located at 12780 El Camino Real, San Diego, CA (the “Premises”). The Lease Amendment extends the term of the Lease from January 1, 2020 (the date upon which the Lease was due to expire) through December 31, 2029. Under the Lease Amendment, commencing July 1, 2017, the Company will pay annual rent of $5,094,022, with annual increases each calendar year. to the Lease Amendment the lease payments due under the Lease for each of July, August and September of 2017 shall be abated. The Lease Amendment also provides the Company with a right of first offer to enter into a lease for an adjacent building to the Premises, subject to the currently existing rights of third-parties in connection with such building. In addition, under the Lease Amendment, the Landlord has agreed to provide the Company with certain specified tenant improvements and to contribute towards the improvement of the Premises’ lobby. The Lease Amendment does not constitute the Company’s exercise of one of its two options to extend the Lease, and thus the Company retains two ten-year options to extend the Lease in accordance with the terms set forth in the Lease.
The foregoing does not purport to be a complete description of the Lease Amendment, and is qualified in its entirety by reference to the full text of the Lease Amendment, a copy of which will be filed with the Company’s Quarterly Report on Form 10-Q for the three-month period ended June 30, 2017.
About NEUROCRINE BIOSCIENCES, INC. (NASDAQ:NBIX)
Neurocrine Biosciences, Inc. is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc. (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders. The Company focuses on developing NBI-640756 against Essential tremor. Its research and development focuses on addressing diseases and disorders of the central nervous and endocrine systems, which include therapeutic categories ranging from hypothalamic-pituitary-adrenal (HPA) disorders to stress-related disorders and neurological/neuropsychiatric diseases. Its Corticotropin-Releasing Factor (CRF) is a hypothalamic hormone released directly into the hypophyseal portal vasculature.