Company: WHWK
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015269
Chunk: 257

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 257
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$1,267 

131

Rent expense for the years ended December 31, 2024 and 2023 is presented on the following table (in thousands):Year Ended December 31,20242023Operating lease rent expense$460 $461 Cash paid for leases and included in operating cash flows for the years ended December 31, 2024 and 2023 is presented on the following table (in thousands):Year Ended December 31,20242023Cash paid included in operating cash flows$512 $502 The future minimum lease payments required under the operating leases as of December 31, 2024, are summarized below (in thousands):Future Minimum Lease Payments:2025$320 2026231 2027280 2028109 Total minimum lease payments$940 Less: amount representing interest(107)Present value of operating lease liabilities$833 Less: operating lease liabilities, current(268)Operating lease liabilities, non-current$565 Remaining lease term (in years)3.25Incremental borrowing rate7.7 %The Company includes option to renew the lease as part of the right of use lease asset and liability when it is reasonably certain the Company will exercise the option. In general, the Company is not reasonably certain to exercise such option.

7. License Agreements

Bristol Myers Squibb Company License AgreementOn April 9, 2014, the Company entered into a license agreement (as amended, the “BMS License Agreement”) with BMS for exclusive rights for certain patents and a non-exclusive license for certain technology and know-how pertaining to FYARRO.  The BMS License Agreement will remain in effect from the effective date of April 9, 2014 until expiration of all milestone and royalty payment obligations under the agreement, unless terminated by either of the parties upon giving advance notice as specified in the BMS License Agreement. Under the terms of the BMS License Agreement, BMS agreed to supply the Company with licensed products of FYARRO necessary for clinical or non-clinical development. Under the terms of the BMS License Agreement, BMS is entitled to receive royalties on net sales from licensed products under the agreement and any sublicense fees. During the years ended December 31, 2024 and 2023, royalties on net product sales were $1.9 million and $1.8 million, respectively. No payments related to sublicense fees were paid during the years ended December 31, 2024 and