First Tracks Biotherapeutics (NASDAQ: TRAX) subleases 45,057 sq ft in San Diego

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

First Tracks Biotherapeutics, Inc. entered into a new sublease on June 15, 2026 with AnaptysBio, Inc. for approximately 45,057 rentable square feet at 10770 Wateridge Circle in San Diego, California.

The initial sublease term runs for 12 months, with an option to extend for up to an additional period ending no later than April 4, 2028, if the company gives at least three months’ prior written notice. The company may also terminate the sublease at any time during the term with three months’ prior written notice.

Monthly payments under the sublease equal the Basic Rent and Additional Rent AnaptysBio owes under the existing master lease, and the company is responsible for charges for services it requests. The sublease is subordinate to the master lease and will end if AnaptysBio’s lease or right to possess the premises terminates.

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

Premises size: 45,057 rentable square feet Initial sublease term: 12 months Latest possible renewal end: April 4, 2028 +2 more

5 metrics

Premises size 45,057 rentable square feet Space subleased at 10770 Wateridge Circle, San Diego

Initial sublease term 12 months From June 15, 2026 commencement date

Latest possible renewal end April 4, 2028 End of potential renewal period if option exercised

Notice period for extension 3 months Written notice required before initial term expiration

Notice period for early termination 3 months Prior written notice required during sublease term

Key Terms

Material Definitive Agreement, Sublease Agreement, Master Lease, Additional Rent, +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.

Sublease Agreement financial

"entered into a Sublease Agreement (the “Sublease”) with AnaptysBio, Inc."

Master Lease financial

"pursuant to the Lease dated May 4, 2020, as amended ... (collectively, the “Master Lease”)."

A master lease is a single, overarching lease agreement that covers multiple properties or assets and sets the main terms for how they will be used, paid for, and maintained—like a master key that opens many doors at once. It matters to investors because it shapes where cash flows come from, who bears operating costs and risks, and how easy it is to sell, finance, or change the assets; a strong master lease can make income more predictable, while a restrictive one can limit flexibility and increase risk.

Additional Rent financial

"plus Additional Rent (as defined in the Master Lease) due under the Master Lease"

Termination Option financial

"other than in connection with the exercise of its Termination Option (as defined in the Master Lease)"

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Understanding 8-K Material Events →

Available on EDGAR 06/22/2026 - 04:06 PM Accepted by SEC EDGAR 06/22/2026 - 04:05 PM

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     Date of Report (Date of earliest event reported): June 15, 2026

    

FIRST TRACKS BIOTHERAPEUTICS, INC.

(Exact name of Registrant as Specified in Its Charter)


Delaware	001-43177	39-5003207
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

10770 Wateridge Circle, Suite 210
San Diego, California		92121
(Address of Principal Executive Offices)		(Zip Code)

     Registrant’s Telephone Number, Including Area Code: 858 362-6295

    

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $0.001 per share	TRAX	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On June 15, 2026, First Tracks Biotherapeutics, Inc. (the “Company”), entered into a Sublease Agreement (the “Sublease”) with AnaptysBio, Inc., a Delaware corporation (“AnaptysBio”), pursuant to which AnaptysBio agreed to sublease to the Company approximately 45,057 rentable square feet of space located at 10770 Wateridge Circle, San Diego, California 92121 (the “Premises”). The Premises are currently leased by AnaptysBio from Wateridge Property Owner, LP, a Delaware limited partnership (the “Master Landlord”), pursuant to the Lease dated May 4, 2020, as amended by the First Amendment to Lease Agreement dated April 5, 2021 (collectively, the “Master Lease”).

The term of the Sublease commenced on June 15, 2026, and continues for a period of twelve (12) months from commencement (the “Sublease Term”). The Company has the option to extend the Sublease Term for a renewal period commencing on the first day following the expiration of the initial Sublease Term and continuing until the earlier of (a) April 4, 2028, or (b) twelve months from the commencement of the renewal term, subject to delivery of written notice to AnaptysBio at least three months prior to the expiration of the initial Sublease Term. The Company also has the right to terminate the Sublease at any time during the Sublease Term upon at least three months’ prior written notice to AnaptysBio.

Under the Sublease, the Company is obligated to pay as monthly rent an amount equal to the monthly Basic Rent (as designated in the Master Lease) owed by AnaptysBio under the Master Lease, plus Additional Rent (as defined in the Master Lease) due under the Master Lease, payable in advance on the first day of each month during the Sublease Term. The Company is also responsible for any charges actually incurred for services requested by the Company that AnaptysBio is liable to the Master Landlord for under the Master Lease. AnaptysBio remains responsible for the timely payment of Basic Rent and Additional Rent under the Master Lease and for otherwise complying with its obligations under the Master Lease except to the extent assumed by the Company.

The Sublease is subordinate to the Master Lease, and the Company has agreed to comply with the applicable terms and provisions of the Master Lease as incorporated into the Sublease.

AnaptysBio has covenanted that it will not surrender or terminate the Master Lease prior to its scheduled expiration date without the consent of the Company (other than in connection with the exercise of its Termination Option (as defined in the Master Lease)), and will not amend or modify the Master Lease in any manner that would materially and adversely affect the Company’s rights or obligations under the Sublease. If AnaptysBio’s tenancy or right to possession under the Master Lease terminates for any reason, the Sublease will immediately cease and terminate.

The foregoing description of the Sublease does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Sublease, a copy of which will be filed with the Company’s quarterly report on Form 10-Q for the three month period ending June 30, 2026.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			FIRST TRACKS BIOTHERAPEUTICS, INC.

Date:	June 22, 2026	By:	/s/ Ajim Tamboli
			Name: Ajim Tamboli Title: Chief Financial Officer

Source: View Original Filing on SEC EDGAR

FAQ

What agreement did First Tracks Biotherapeutics (TRAX) enter into on June 15, 2026?

First Tracks Biotherapeutics entered into a sublease agreement with AnaptysBio, Inc. on June 15, 2026. The sublease covers space at 10770 Wateridge Circle in San Diego and incorporates terms from AnaptysBio’s existing master lease with the property owner.

How large is the San Diego space subleased by First Tracks Biotherapeutics (TRAX)?

First Tracks Biotherapeutics subleased approximately 45,057 rentable square feet in San Diego. The space is located at 10770 Wateridge Circle, San Diego, California 92121, and is currently subject to a master lease between AnaptysBio and Wateridge Property Owner, LP.

What is the initial term of the First Tracks Biotherapeutics (TRAX) sublease?

The initial term of the sublease is twelve months starting June 15, 2026. During this period, First Tracks Biotherapeutics occupies the premises under terms tied to AnaptysBio’s master lease, including responsibility for rent and certain service-related charges.

Can First Tracks Biotherapeutics (TRAX) extend the sublease beyond the initial term?

First Tracks Biotherapeutics can extend the sublease for a renewal period ending no later than April 4, 2028. To do so, the company must deliver written notice to AnaptysBio at least three months before the initial twelve-month term expires.

Under what conditions can First Tracks Biotherapeutics (TRAX) terminate the sublease early?

First Tracks Biotherapeutics may terminate the sublease at any time during the term by giving at least three months’ prior written notice to AnaptysBio. The sublease also ends automatically if AnaptysBio’s tenancy or right to possession under the master lease terminates.

Filing Exhibits & Attachments

1 document