Add
TELK to Portfolio
Set Alert
Email to a
Friend
| |||
|
|
Quotes & Info
|
| TELK > SEC Filings for TELK > Form 8-K on 22-Feb-2013 | All Recent SEC Filings |
22-Feb-2013
Termination of a Material Definitive Agreement, Financial Statements and Exhibits
In November 2010 Telik, Inc. ("we") subleased all of the facility we previously occupied at 3165 Porter Drive in Palo Alto, California to Stanford University for the remaining term of the lease, which would have expired on May 31, 2014. As of February 2013 our remaining lease payments, that are not offset by sublease payments, total approximately $1.3 million.
On February 19, 2013 we entered into an agreement with the building landlord, ARE-San Francisco No. 24, LLC ("ARE"), an affiliate of Alexandria Real Estate Equities, Inc., under which the lease and sublease are terminated as of February 28, 2013 and we agree to pay ARE approximately $0.7 million. If we receive $15 million or more in future financing, we agree to pay to ARE an additional amount of approximately $0.6 million.
The agreement is filed as Exhibit 99.1 hereto, the contents of which are incorporated herein by reference.
99.1 Agreement for Termination of Lease and Voluntary Surrender of Premises
dated February 19, 2013, by and between Telik, Inc. and ARE-San Francisco
No. 24, LLC.
|
|
|