Aligos extends South SF HQ lease to 2034
Rhea-AI Filing Summary
Aligos Therapeutics, Inc. (ALGS) entered into a First Amendment to its headquarters lease in South San Francisco with Britannia Biotech Gateway Limited Partnership, extending the lease term from March 31, 2027 to March 31, 2034 and updating rent and flexibility terms.
The amendment sets base monthly rent per rentable square foot at $4.650 from April 1, 2027, escalating annually to $5.716 from April 1, 2033 to March 31, 2034, and requires Aligos to pay a specified percentage of certain landlord expenses. Aligos receives a 10‑month rent abatement from April 1, 2027 to January 31, 2028, subject to no material default. The company gains a one-time option to terminate the lease as of March 31, 2031 by giving notice by March 31, 2030 and paying $2,476,429.22 in termination consideration, plus a separate right to terminate without penalty if it signs a qualifying new lease of at least 60,000 rentable square feet with the landlord or its affiliate. The existing extension option is revised to one seven‑year option following the extended term.
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8-K Event Classification
Item 1.01 — Entry into a Material Definitive Agreement
1 item
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Key Figures
Extended lease end date: March 31, 2034
Base rent per square foot (2027–2028): $4.650 per rentable square foot per month
Base rent per square foot (2033–2034): $5.716 per rentable square foot per month
+4 more
7 metrics
Extended lease end date
March 31, 2034
New expiration of headquarters lease term after First Amendment
Base rent per square foot (2027–2028)
$4.650 per rentable square foot per month
From April 1, 2027 to March 31, 2028
Base rent per square foot (2033–2034)
$5.716 per rentable square foot per month
From April 1, 2033 to March 31, 2034
Rent abatement period
10 months
From April 1, 2027 to January 31, 2028, subject to no material default
Termination consideration
$2,476,429.22
Amount payable if Aligos terminates lease effective March 31, 2031 under one-time option
Minimum space for penalty-free new lease
60,000 rentable square feet
Required size of new lease to use penalty-free termination right
Revised extension option length
7 years
One seven-year extension option following the extended term
Key Terms
Material Definitive Agreement, rent abatement, termination consideration, extension option, +1 more
5 terms
Material Definitive Agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement"
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
rent abatement financial
"The Company will also be granted a rent abatement for ten months"
A temporary reduction or suspension of rent a tenant must pay, negotiated into a lease or granted by a landlord for a set period or specific circumstances. It matters to investors because it directly changes a property owner’s rental income and cash flow—like a short-term discount or payment pause—and can affect valuation, debt coverage, and a tenant’s ability to stay in place during repairs, fit-outs, or financial strain.
termination consideration financial
"payment on or before the termination date of $2,476,429.22 in termination consideration"
extension option financial
"The First Amendment revises the existing extension option under the Lease"
rentable square feet financial
"covering no less than 60,000 rentable square feet"
Rentable square feet is the total floor area a landlord charges tenants for, including the tenant’s usable space plus a proportional share of common areas like lobbies, hallways and restrooms. Investors use it to calculate income and compare properties because rent and lease rates are typically quoted per rentable square foot; think of it as the full ticket price that includes your seat plus a share of the theater’s aisles and lobby.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What lease change did Aligos Therapeutics (ALGS) announce on September 10, 2026?
Aligos Therapeutics entered into a First Amendment to its headquarters lease, extending the term from March 31, 2027 to March 31, 2034, and revising rent, expense-sharing, termination options, and the future extension option.
How do base rents change under the new Aligos (ALGS) lease amendment?
Base monthly rent per rentable square foot is $4.650 from April 1, 2027 to March 31, 2028, then increases annually, reaching $5.716 from April 1, 2033 to March 31, 2034, as specified in the amendment.
Does Aligos Therapeutics (ALGS) receive any rent abatement under the amended lease?
Yes. Aligos receives a ten‑month rent abatement from April 1, 2027 to January 31, 2028, provided there is no material default under the lease during that period.
What early termination right does Aligos (ALGS) have in the lease amendment?
Aligos has a one-time option to terminate the lease as of March 31, 2031, if it gives written notice on or before March 31, 2030 and pays $2,476,429.22 in termination consideration by the termination date.
What is the penalty-free termination option described for Aligos (ALGS)?
Aligos may terminate the lease without penalty on at least 30 days’ written notice if it and the landlord or an affiliate fully execute a new lease in the same or another owned project, extending beyond the then-latest lease expiration and covering at least 60,000 rentable square feet.
How was the extension option under the Aligos (ALGS) lease revised?
The existing extension option was changed from one eight‑year option to one seven‑year option, exercisable by written notice for the seven‑year period immediately following the expiration of the extended term ending March 31, 2034.
AI-generated analysis. How Rhea-AI works. Not financial advice.
