NextCure ends Beltsville lab lease, pays $0.8M
NextCure terminated its Beltsville, Maryland lease early, paying a one-time fee and forfeiting its security deposit to end future rent obligations.
Rhea-AI Filing Summary
NextCure, Inc. (NXTC) entered into a Ninth Amendment to its lease with ARE-8000/9000/10000 Virginia Manor, LLC covering approximately 29,864 rentable square feet of lab and office space in Beltsville, Maryland. The company vacated and surrendered the premises effective August 31, 2026, and the parties agreed to accelerate the lease expiration and terminate NextCure’s future rent obligations effective September 1, 2026, subject to the terms of the amendment.
In connection with this amendment, NextCure paid a one-time termination fee of approximately $0.8 million and forfeited a security deposit of approximately $39,000.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 1.01, 9.01
2 items
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.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Rentable square feet terminated: 29,864 square feet
Termination fee: $0.8 million
Security deposit forfeited: $39,000
+2 more
5 metrics
Rentable square feet terminated
29,864 square feet
Remaining leased laboratory and office space at 8000 Virginia Manor Road, Beltsville, Maryland
Termination fee
$0.8 million
One-time payment in connection with the Ninth Amendment to the Beltsville lease
Security deposit forfeited
$39,000
Security deposit forfeited as part of the lease termination arrangement
Vacate date
August 31, 2026
Date NextCure vacated and surrendered the Beltsville premises
Lease termination effective date
September 1, 2026
Date lease expiration and future rent obligations were accelerated and terminated
Key Terms
Material Definitive Agreement, termination fee, security deposit, vacated and surrendered, +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.
termination fee financial
"the Company paid a one-time termination fee of approximately $0.8 million"
A termination fee is a payment required if one party ends a contract before its agreed-upon end date. It acts like a penalty or compensation to the other party for canceling early, similar to a fee you might pay for breaking a lease or canceling a service contract. For investors, it matters because it can influence a company's decisions and financial obligations related to ending agreements prematurely.
security deposit financial
"forfeited its security deposit of approximately $39,000"
vacated and surrendered regulatory
"the Company vacated and surrendered the premises effective August 31, 2026"
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
What lease change did NextCure (NXTC) disclose in this Form 8-K?
NextCure disclosed a Ninth Amendment to its lease for space at 8000 Virginia Manor Road, Beltsville, Maryland. The company vacated the approximately 29,864 rentable square feet of lab and office space and agreed to terminate future rent obligations effective September 1, 2026.
When did NextCure (NXTC) vacate the Beltsville premises and end rent obligations?
NextCure vacated and surrendered the Beltsville premises effective August 31, 2026. Under the Ninth Amendment, the expiration of the lease and the company’s future rent obligations were accelerated and terminated effective September 1, 2026, subject to the amendment’s terms.
How much did NextCure (NXTC) pay to terminate the Beltsville lease?
In connection with the lease amendment, NextCure paid a one-time termination fee of approximately $0.8 million. This payment was part of the agreement to accelerate the lease expiration and end its future rent obligations for the Beltsville facility.
What happened to NextCure’s security deposit under the lease amendment?
NextCure forfeited its security deposit of approximately $39,000 as part of the Ninth Amendment to the Beltsville lease. This forfeiture occurred in addition to the one-time termination fee paid to end the lease early.
How large was the Beltsville facility that NextCure (NXTC) vacated?
The Beltsville facility covered approximately 29,864 rentable square feet of leased laboratory and office space at 8000 Virginia Manor Road. This remaining space was subject to the Ninth Amendment under which the lease was terminated early.
Who was NextCure’s landlord under the terminated Beltsville lease?
The landlord under the amended Beltsville lease was ARE-8000/9000/10000 Virginia Manor, LLC. NextCure and this landlord entered into the Ninth Amendment to accelerate the lease expiration and terminate the company’s future rent obligations.
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