Boundless Bio, Inc. 8-K

What Happened Boundless Bio, Inc. (BOLD) announced it entered into an Agreement for Termination of Lease and Voluntary Surrender of Premises with ARE-10933 North Torrey Pines, LLC, terminating its lease for approximately 80,168 rentable sq. ft. of lab and office space at 10955 Alexandria Way, San Diego. The original lease—dated Dec. 20, 2021 and amended Nov. 1, 2024—was set to expire Oct. 31, 2034; under the termination agreement the lease will end effective May 31, 2026. The termination became effective after the landlord satisfied a condition precedent related to leasing the premises to a new tenant.

Key Details

• Lease termination effective date: May 31, 2026.
• Lease space: ~80,168 rentable square feet at 10955 Alexandria Way (Building 5 at One Alexandria Square), San Diego, CA.
• Cash consideration: $10.0 million lease modification payment by the company.
• Security deposit: landlord will draw down and retain the company’s security deposit (~$0.5 million).
• The company will file the full Lease Termination Agreement as an exhibit to its Form 10-Q for the quarter ending June 30, 2026.

Why It Matters This is a material real-estate decision that creates a near-term cash outflow ($10.0M plus loss of ~$0.5M deposit) and ends the company’s long-term occupancy commitment through 2034. Investors should note the immediate impact on cash and obligations and look for the full termination agreement in the upcoming 10-Q for any additional terms or contingencies.