Summary
Alnylam Pharmaceuticals, Inc. (ALNY) announced on October 2, 2018, the execution of a Second Amendment to its real property lease agreement for office space located at 101 Main Street, Cambridge, Massachusetts. This amendment extends the lease term by five years, from its original expiration of March 31, 2019, to March 31, 2024. This lease extension demonstrates ALNY's commitment to its Cambridge presence and provides operational stability for its ongoing research and development activities. The agreement includes an option for a further five-year extension. The annual rent will be $2.1 million starting April 2019, with subsequent annual increases of 2.0 percent. This filing provides transparency on the company's real estate commitments, which is a key factor in managing operating expenses.
Key Highlights
- 1Alnylam Pharmaceuticals has extended its office lease in Cambridge, MA, by five years, through March 31, 2024.
- 2The original lease for approximately 23,350 square feet was set to expire on March 31, 2019.
- 3The company has secured an option to extend the lease for an additional five years beyond the current extension.
- 4Annual rent will commence at $2.1 million in April 2019.
- 5Annual rent will increase by 2.0 percent each year after the first year of the extended term.
- 6This lease amendment provides ALNY with long-term operational space stability in a key biotechnology hub.