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DRNA > SEC Filings for DRNA > Form 8-K on 15-Jul-2014All Recent SEC Filings

Show all filings for DICERNA PHARMACEUTICALS INC

Form 8-K for DICERNA PHARMACEUTICALS INC


15-Jul-2014

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement

On July 11, 2014, Dicerna Pharmaceuticals, Inc. (the "Company") entered into a lease (the "Lease") with King 87 CPD LLC ("King") for a 37,186 square foot facility located at 87 CambridgePark Drive, Cambridge, Massachusetts (the "CambridgePark Facility"). The Company secured the CambridgePark Facility to house an office and laboratory.

Under the terms of the Lease, the Company will receive the benefit of a mutually agreed upon "turn-key" build out by King for the CambridgePark Facility.

The Company will pay average monthly rent of $134,000 over the term of the Lease. In addition, throughout the term of the Lease, the Company is responsible for paying certain costs and expenses specified in the Lease, including insurance costs and a proportionate share of applicable taxes and operating expenses for the CambridgePark Facility.

The Lease includes various covenants, indemnities, defaults, termination rights, security deposits and other provisions customary for lease transactions of this nature. The Lease commences on the later to occur of (i) December 1, 2014 or
(ii) the date on which King's work is substantially complete. The Lease terminates six (6) years after the last day of the calendar month in which the lease commences.

The foregoing summary is qualified in its entirety by reference to the Lease, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q.

FORWARD LOOKING STATEMENTS

In this Form 8-K, Dicerna makes certain forward-looking statements regarding the Lease. These forward-looking statements involve substantial risks and uncertainties, including but not limited to that the turn-key build-out of the CambridgePark Facility could be delayed and actual costs could exceed planned estimates. Other important risks and uncertainties are detailed in Dicerna's reports and other filings with the SEC, including its most recent Quarterly Report on Form 10-Q. Actual results could differ materially from the forward-looking statements. Dicerna undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise.

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