TuHURA Biosciences, Inc./NV Commitments Disclosure
Note 14—Commitments and contingencies
Lease Commitments – The Company leases facilities under non-cancelable operating leases for the laboratory and offices in Tampa, Florida. The current lease was extended in December 2025 and expires in March 2028. Additionally the Company entered into a finance lease for laboratory equipment in June 2025. Operating leases are included in operating lease right of use assets, lease liability,
current and long term. Finance leases are included in property and equipment, lease liability, current and long term.
Future minimum lease payments under these leases are as follows:
|
Finance |
|
|
Operating |
|
||
Year ending December 31, 2026 |
$ |
51,971 |
|
|
$ |
186,034 |
|
Year ending December 31, 2027 |
|
51,971 |
|
|
|
196,221 |
|
Year ending December 31, 2028 |
|
25,985 |
|
|
|
49,650 |
|
Interest portion of right of use liability |
|
(11,789 |
) |
|
|
(47,375 |
) |
Finance and operating lease liabilities |
$ |
118,138 |
|
|
$ |
384,530 |
|
Operating leases - Total lease expense was approximately $172,000 and $163,000 for the years ended December 31, 2025 and 2024, respectively.
Cash paid for amounts included in the measurement of lease liabilities was approximately $173,000 and $160,000 for the years ended December 31, 2025 and 2024.
For the current lease, the weighted-average lease term is 2.25 years and 1.25 years and the weighted average discount rate is 10.0% as of December 31, 2025 and 2024.
Finance leases- Cash paid for amounts included in the measurement of finance lease liabilities was $54,315 for the year ended December 31, 2025. There were no finance leases for the year ended December 31, 2024. Interest on the finance lease liabilities amounted to approximately $5,000 for the year ended December 31, 2025.
For the current finance lease, the weighted-average lease term is 2.5 years and the weighted average discount rate is 7.5% as of December 31, 2025.
Employment Agreements – The Company maintains employment agreements with its Chief Executive Officer and Chief Financial Officer, each entered into in May 2023 by Legacy TuHURA, as amended and as subsequently assumed by the Company in connection with the closing of the Merger.
Future minimum payments under these employment agreements are as follows:
Year ending December 31, 2026 |
|
|
$ |
874,000 |
|
|
|
|
$ |
874,000 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
About Commitments Disclosures
Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.
Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.