UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01. Entry into a Material Definitive Agreement.
On January 13, 2025, Kura Oncology, Inc. (the “Company”) entered into a lease agreement (the “Lease”) with HCP Life Science REIT, Inc. (“Landlord”) for the lease of approximately 32,512 square feet of rentable area of the building located at 4930 Directors Place, San Diego, California 92121 (the “Premises”). The commencement date of the Lease is expected to be the earlier to occur of (i) the date upon which the Company first commences to conduct business in the Premises and (ii) October 1, 2025. The Company expects to use the Premises as its new principal executive offices and for general office use, research and development, and laboratory uses. The term of the Lease (the “Initial Term”) is seven years and eight months and the Company has one option to extend the Lease for a period of five additional years. The minimum rent payable by the Company under the Lease will be approximately $183,693 per month for the first year of the Lease, which amount will increase by 3.0% per year over the Initial Term. The Company will also be responsible for the payment of additional rent to cover the Company’s share of the annual operating expenses of the building, the annual tax expenses of the building and the annual utilities costs for the building (the “Additional Rent”). Pursuant to the Lease, Landlord shall provide the Tenant with (i) base rent abatement in the total amount not to exceed $2,399,031 to be applied as a credit against the rent payments due for months two through fourteen, inclusive and (ii) a tenant improvement allowance in an amount not to exceed $6,161,024, subject to certain conditions. In the event of a default of certain of the Company’s obligations under the Lease, Landlord would have the right to terminate the Lease and recover certain unpaid rent and expenses. The Company has the option to terminate the lease five years and six months into the Initial Term (the “Early Termination Date”) by providing notice at least 12 months in advance of the Early Termination Date and paying an early termination fee equal to the rent, including Landlord’s estimate of Additional Rent, that otherwise would be due for the eight months following the Early Termination Date.
The foregoing description of the Lease does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Lease. The Company intends to file a copy of the Lease with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 above is incorporated by reference herein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| KURA ONCOLOGY, INC. | ||||||
| Date: January 14, 2025 | By: | /s/ Teresa Bair | ||||
| Teresa Bair | ||||||
| Chief Legal Officer | ||||||