Item 1.01. Entry into a Material Definitive Agreement.
On January 8, 2020, Kura Oncology, Inc. (the "Company") entered into an Office
Lease (the "Lease") with BRE CA Office Owner LLC ("Landlord") for the lease of
approximately 13,420 square feet of rentable area of the building located at
12730 High Bluff Drive, San Diego, California 92130 (the "Premises"). The
commencement date of the Lease is expected to be May 1, 2020. The Company
expects to use the Premises as its new principal executive offices and for
general office use. The term of the Lease (the "Initial Term") is five years and
four 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 $57,700 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, the annual utilities costs for the building and parking. 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 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, 2019.
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.
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