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Insmed Incorporated Message Board

  • zake1 zake1 Jan 3, 2014 4:41 PM Flag

    This is big news

    New research facility.
    Item 1.01. Entry into a Material Definitive Agreement.



    On December 31, 2013, Insmed Incorporated (the “Company”) and Denver Road, LLC entered into a lease of laboratory and office space totaling approximately 27,435 square feet in Bridgewater, New Jersey. The lease term ends November 30, 2019. Under the lease, the Company is obligated to pay base rent of $438,960 per year in the initial year of the lease, which base rent rises annually and equally until it reaches $507,547 in the final year of the lease. The Company also is obligated to pay for certain utilities, taxes and other expenses incurred by the landlord in excess of specified levels. The lease provides the Company with certain options to lease additional space in the same building. The Company will relocate its operations to the Bridgewater facility during 2014. A copy of the lease is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference

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    • Guess you missed this part (bwd)

      With options to lease the whole building. A current tenant's lease expires in February and if not renewed, Insmed has an option to pick up the space. Why would they specifically opt for this space? We are not talking about several months out but rather a few weeks. I think it reasonable to expect positive news soon.

      Sentiment: Strong Buy

    • We're moving ourselves to a larger building... Guess why? Not a decision made overnight!

      Sentiment: Strong Buy

    • mitchcarr@verizon.net mitchcarr Jan 3, 2014 8:30 PM Flag

      16 bucks a square foot growing to 18.50 a square foot in 2019 is a good deal by any measure. Rents in the biotech corridor on 270 in Maryland start at 25 bucks a foot triple net.

    • Very pleasantly surprised. When I first saw *SEC Filing 8 K...* filed after hours on a Friday, I was expecting something slimy and dilutive. This is much better. Proactive move considering the current space and lease is up this year...guessing we had to buy-out the last months of the current lease. The options, including renting additional space could just be boiler-plate but still very positive that language is in the lease.
      So, will we get NTM news before we hear Managements objectives for the new space?

    • Any significance that this is after the Settlement date of 2018? Other than they probably won't be sold until after then?

      Thanks

    • [ We currently lease a facility totaling 27,035 square feet of laboratory and office space at 9 Deer Park Drive in Monmouth Junction, New Jersey. The lease expires in December 2014. We also lease approximately 1,350 sq. ft. of lab space at 11 Deer Park Drive, which also expires in December 2014. The additional space at 11 Deer Park Drive is utilized to support the manufacturing process of ARIKACE for our clinical programs. ]

      [ On December 31, 2013, Insmed Incorporated (the "Company") and Denver Road, LLC entered into a lease of laboratory and office space totaling approximately 27,435 square feet in Bridgewater, New Jersey. The lease term ends November 30, 2019. }

      [ The lease provides the Company with certain options to lease additional space in the same building. ]

      [ Tenant, subject to and in accordance with the provisions of this Lease, shall use the Premises for general office use and related laboratory use and for no other purpose. ]

      One interpretation is that the Company doesn't anticipate any more Arikace clinical trials for the moment - supporting the long-standing guidance that the Company intends to seek FDA and EMEA approved uses of Arikace based upon the totality of the data from the clinical trials in Cystic Fibrosis and NTM, the Expanded Access program, and the Non-CF bronchiectasis study.

    • lux19insm@rocketmail.com lux19insm Jan 3, 2014 6:00 PM Flag

      wouldn't it be nice to see something more on monday morning?

    • lux19insm@rocketmail.com lux19insm Jan 3, 2014 5:16 PM Flag

      how far away is this from merck?

    • I will visit the site. Lease starts in June. Triple net lease. Interesting but this does not mean we will not be sold. This is another confidence builder though.

      27k sq ft on a second floor mostly office space along with lab space. Option to lease almost the entire 3rd floor and part of the first floor to near double capacity.

      All good!!!!

      Sentiment: Strong Buy

    • INSM isn't going to be for sale for a while..This looks like someone setting up shop for the next five years while
      they build their business.
      Building . The building in which the Premises are located (herein called the “ Building ”) is located on the land (herein called the “ Land ”) described in Exhibit A attached hereto and made a part hereof. The Building is part of the multi-building complex (the “ Complex ”) known as 10 Finderne Avenue, Bridgewater, New Jersey. The Building is commonly known as Building 10, 10 Finderne Avenue, Bridgewater, New Jersey. The Building, together with the other buildings comprising the Complex, the Land, and the other improvements thereon, including, without limitation, the Public Areas, and such other facilities as are part of each building or buildings which may now or hereafter be constructed and developed on the Land, and all improvements, fixtures, facilities, machinery and equipment comprising a part of, or located in or used in the operation of, the all such buildings and facilities (including without limitation all improvements and betterments of tenants), as well as all personal property located in each such building or facility which is used in the operation thereof, the curbs, sidewalks and plazas immediately adjoining the Land, and all easements, air rights, development rights and other appurtenances to all such buildings and facilities and/or the Land, are referred to herein as the “ Real Property

 
INSM
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