Company: WHWK
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023932
Chunk: 444

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 444
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 the landlord agreed to extend the term for an additional period of three (3) years and six (6) months, until February 28, 2025, with an option to renew for an additional three (3) years in accordance with the terms of the Pacific Palisades Lease. Included in the Pacific Palisades Lease Amendment were nine months of rent abatement and a rent escalation clause. The Pacific Palisades Lease expired on February 28, 2025.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. In connection with the FYARRO Divestiture, KAKEN assumed the Morristown Lease. The Company has entered into a short-term sublease for six months with KAKEN and has elected the short-term lease exemption under ASC 842. As such, this lease is not recorded on the balance sheet. Lease payments made are recognized on a straight-line basis over the lease term in the income statement.The following table summarizes information related to the Company’s leases (in thousands):March 31, 2025December 31, 2024Assets:Operating lease right-of-use assets$— $787 Liabilities:Operating lease liabilities, current$— $268 Operating lease liabilities, non-current— 565 Total operating lease liabilities$— $833 

15

Rent expense for the three months ended March 31, 2025 and 2024 is presented on the following table (in thousands):Three Months Ended March 31,20252024Operating lease rent expense$74 $115 Cash paid for leases and included in operating cash flows for the three months ended March 31, 2025 and 2024 is presented on the following table (in thousands):Three Months Ended March 31,20252024Cash paid included in operating cash flows$99 $126 

7. License Agreements

Former 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