Summary
Alnylam Pharmaceuticals, Inc. (ALNY) filed an 8-K on May 14, 2010, detailing a material definitive agreement related to its lease. Specifically, the company entered into a Third Amendment to its existing lease for laboratory and office space located at 300 Third Street, Cambridge, Massachusetts. This amendment allows Alnylam to lease the entire first floor of the premises, adding approximately 34,000 square feet of space. This expansion brings Alnylam's total leased space at the location to approximately 129,000 square feet. The lease term extends through September 30, 2016, with options for two additional five-year extensions. The company anticipates an increase of $8.9 million in operating lease obligations through 2016 due to this amendment. Notably, Alnylam intends to sublease the newly acquired additional space through 2011.
Key Highlights
- 1Alnylam Pharmaceuticals entered into a Third Amendment to its lease agreement for premises at 300 Third Street, Cambridge, MA.
- 2The amendment grants Alnylam the lease of the entire first floor, adding approximately 34,000 square feet of laboratory and office space.
- 3Upon delivery of the additional space, Alnylam's total leased area at the location will be approximately 129,000 square feet.
- 4The current lease term extends until September 30, 2016.
- 5Alnylam has two options to extend the lease for successive five-year periods.
- 6The Third Amendment will increase Alnylam's operating lease obligations by $8.9 million through 2016.
- 7The company plans to sublease the additional space acquired through 2011.