0001193125-26-201751
SEC filingOlema Pharmaceuticals entered into a 7-year lease for 38,176 sq ft of office/lab space starting September/December 2026 to relocate its corporate headquarters, with total base rent of $18.5 million net of abatement.
Olema Pharmaceuticals has secured new premises totaling approximately 38,176 square feet across two phases to consolidate its operations, planning relocation of corporate headquarters by December 2026 as existing San Francisco leases expire shortly thereafter. The lease with KR Oyster Point II, LLC features a 7-year initial term with defined commencement dates—Phase I around September 15, 2026, and Phase II around December 1, 2026—accompanied by total base rent of $18,506,651.76 net of abatements. Financial commitments include a $427,546.80 security deposit and a substantial $1.72 million termination fee for early exit after 60 months, providing flexibility while imposing costs. Landlord-funded improvements ensure the space meets requirements prior to occupancy. Additional options for a 5-year extension and expansion via right of first offer support potential future growth needs. Customary terms cover operating expenses and remedies for breaches, aligning with standard commercial real estate practices for biotech firms scaling operations.