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Instil Bio Signs Lease With AstraZeneca Pharmaceuticals at California Facility; Shares Rise After Hours
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Instil Bio Signs Lease With AstraZeneca Pharmaceuticals at California Facility; Shares Rise After Hours
Jul 11, 2024 3:13 PM

05:51 PM EDT, 07/11/2024 (MT Newswires) -- Instil Bio ( TIL ) said Thursday its Complex Therapeutics unit signed AstraZeneca's ( AZN ) AstraZeneca Pharmaceuticals as a tenant at its facility in Tarzana, California.

The lease has a 15-year initial term ending July 31, 2039, according to a regulatory filing. AstraZeneca Pharmaceuticals has two consecutive options to extend the term for a five-year period each.

Instil Bio ( TIL ) said the initial base rent is $627,276 per month, set to increase by 3% annually.

The company's shares rose 5.2% in after-hours activity.

Price: 10.20, Change: +0.50, Percent Change: +5.15

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