Janux Therapeutics, Inc 8-K, filed Oct 1, 2021
Janux Therapeutics, Inc. (JANX)
About this 8-K
Janux Therapeutics, Inc filed this 8-K on October 1, 2021.
Items reported
- Item 1.01: Entered into a material agreement
- Item 2.03: New debt or off-balance-sheet obligation
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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Item 1.01 Entry into a Material Definitive Agreement.
On October 1, 2021, Janux Therapeutics, Inc. (the “Company”) entered into a lease agreement (the “Lease”) with Pacific Plaza Owner, L.L.C. (“Landlord”).
Pursuant to the Lease, the Company will lease approximately 47,300 square feet of rentable area of the building located at 10955 Vista Sorrento Parkway, San Diego, California 92130 (the “Building”) comprising the entirety of the second and third floors and commonly known as Suite 200 and Suite 300, respectively (the “Premises”). The Premises are expected to provide space for office, laboratory, vivarium and research and development uses. The anticipated Lease commencement date is July 1, 2022 (the “Lease Commencement Date”). Pursuant to the Lease and during the term thereof, the Company has a one-time right of first offer to lease space on the first floor of the Building to the extent such space becomes available and subject to customary conditions and notice requirements as set forth in the Lease.
The term of the Lease is one hundred twenty-six months. The base rent payable by the Company under the Lease will be $271,952 per month for the first year of the Lease term, with full abatement of the base rent for the first six full months of the Lease term. During such abatement period, the Company shall still be responsible for payment of its other monetary obligations under the Lease. The base rent payable by the Company under the Lease will increase on each anniversary of the Lease Commencement Date by three percent. The Lease contains customary provisions requiring the Company to pay its pro rata share of utilities, operating expenses and certain taxes, assessments and fees of the Premises. The Company is required to post a letter of credit in the amount of $815,856 which is subject to use by the Landlord under certain circumstances, per the terms of the Lease. The letter of credit amount is subject to a fifty percent (50%) reduction subject to certain conditions on or following the date that is 54 months following the Lease Commencement Date as outlined in the Lease. The Lease provides that the Landlord shall provide an allowance of approximately $10.64 million to help pay for the costs of the design, permitting and construction of permanently affixed improvements to the Premises.
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, 2021.
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, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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JANUX THERAPEUTICS, INC. |
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Date: |
October 1, 2021 |
By: |
/s/ David Campbell, Ph.D. |
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David Campbell, Ph.D. |