Cue Biopharma, Inc. 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Cue Biopharma, Inc. on January 22, 2018. The Company, an emerging growth company incorporated in Delaware, reported the entry into a material definitive agreement regarding its principal executive offices.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, or existing debt figures. The only financial data disclosed relates to the new lease obligation:
- Monthly Rent (First 18 months): $297,495
- Monthly Rent (Remainder of term): $388,396
- Upfront Obligation: Prepayment of three months' rent required.
- Lease Term: Commencing May 1, 2018 (or upon delivery), expiring April 30, 2021.
Material Changes
The Company entered into a License Agreement with MIL 21E, LLC to lease approximately 19,833 rentable square feet at 21 Erie Street, Cambridge, Massachusetts. This location will serve as the new principal executive offices, as well as general office, research and development, and laboratory space. The Licensor is obligated to provide specific services including gases, chemicals, equipment, IT support, security, and health and safety training.
Outlook, Risks, and Contingencies
The filing identifies a termination risk: the Licensor retains the right to terminate the agreement in the event of an uncured default of certain Company obligations. No forward-looking financial guidance or management commentary regarding future performance was included in this specific report.
Investor Verification Checklist
- Verify the total upfront cash outflow required for the three-month rent prepayment.
- Confirm the exact delivery date of the premises to determine the actual lease commencement.
- Review the specific "uncured default" clauses in the full License Agreement to assess termination risks.
- Assess the impact of the increased monthly rent ($388,396) on future operating expenses after the initial 18-month period.