| Item 1.01 | Entry into a Material Definitive Agreement. |
On August 10, 2018, Catalyst Biosciences, Inc., a Delaware corporation (the “Company”) entered into an amendment (the “Lease Amendment”) to the existing office lease agreement (the “Original Lease Agreement”) with BXP 611 Gateway Center LP, a Delaware limited partnership (the “Landlord”) to lease an additional approximately 4,626 rentable square feet of space located on the seventh (7th) floor of 611 Gateway Boulevard, South San Francisco, California (the “Expanded Premises”).
The currently leased premises (the “Existing Premises”) will be increased to include the Expanded Premises (collectively referred to as the “Premises”) effective as of the earlier to occur of (i) the date upon which the Company commences to conduct business in the Expanded Premises and (ii) the later of (a) November 1, 2018 and (b) the completion of certain construction improvement projects on the Expanded Premises, as described in the Lease Amendment (the “Expansion Commencement Date”). The term of the Company’s lease of the Expanded Premises (the “Expansion Term”) shall commence on the Expansion Commencement Date and shall be coterminous with the Original Lease Agreement on April 30, 2023 (“the Lease Term”).
Base rent (the “Base Rent”) for the Expanded Premises if the Expansion Commencement Date is on or prior to February 28, 2019 is approximately $191,516 (or $197,262 if the Expansion Commencement Date is after February 28, 2019), with an increase in annual base rent of approximately 3% in each subsequent year of the Lease Term. In addition to the Base Rent, the Company shall continue pay a share of the annual Building Direct Expenses (as defined in the Lease Agreement) and Capital Expenses (as defined in the Lease Agreement); provided that for purposes of calculating the Building Direct Expenses and Capital Expenses, the Company’s share shall equal 1.7766% and the Base Year (as defined in the Lease Agreement) shall be calendar year 2018. The Lease Amendment also provides a tenant improvement allowance in the amount of $208,170.
The above description of the Lease Amendment is qualified in its entirety by reference to the full text of the Lease Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form8-K.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under anOff-Balance Sheet Arrangement of a Registrant. |
The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.
On August 15, 2018, the Company issued a press release announcing updated interim data from the Company’s ongoing Phase 2/3 study of marzeptacog alfa (activated) in individuals with hemophilia A or B with inhibitors, a copy of which is attached as Exhibit 99.1 to this Current Report on Form8-K and is incorporated herein by reference.
