Company: WHWK
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015269
Chunk: 182

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 182
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 were nine months of rent abatement and a rent escalation clause.  In April 2022, the Company entered into a lease agreement for office space in Morristown, New Jersey (the “Morristown Lease”). The Morristown Lease has a term of seventy-three months, unless terminated sooner, and includes rent abatement for the first three months and the forty-seventh and forty-eighth calendar months after lease commencement. Included in the Morristown Lease are fixed rent escalations of approximately 2% on each anniversary year of the lease term.The following table summarizes information related to the Company’s leases (in thousands):As of December 31,20242023Assets:Operating lease right-of-use assets$787 $1,169 Liabilities:Operating lease liabilities, current$268 $434 Operating lease liabilities, non-current565 833 Total operating lease liabilities$833 $1,267 

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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