Business Context and Reporting Period
This Form 8-K Current Report was filed by Ultragenyx Pharmaceutical Inc. on January 10, 2019. The report discloses the entry into a material definitive agreement regarding corporate real estate.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on a lease amendment and does not contain financial performance data.
Material Changes
On January 10, 2019, the Company entered into a Third Lease Amendment effective as of December 31, 2018. Key changes include:
- Assignment: The lease was assigned from Dimension Therapeutics, Inc. (a wholly-owned subsidiary) to Ultragenyx Pharmaceutical Inc.
- Term Extension: The lease term was extended to December 31, 2023.
- Space Expansion: An additional 9,538 square feet of space was added to the lease.
- Location: The property is located at 840 Memorial Drive, Cambridge, MA.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook. No specific risks or contingencies are detailed beyond the standard qualification that the description of the amendment is subject to the full text of the agreement, which is filed as an exhibit to the Annual Report on Form 10-K for the year ended December 31, 2018.
Investor Verification Checklist
- Verify the total square footage and rental rates in the full text of the Third Lease Amendment filed as an exhibit to the 2018 Form 10-K.
- Confirm the impact of the lease extension and expansion on the Company's future operating lease obligations.
- Review the 2018 Form 10-K for the original lease terms assigned from Dimension Therapeutics, Inc.