OnKure Therapeutics, Inc. Leases Disclosure
5. Leases
The Company’s headquarters are located in Boulder, Colorado, where it leases 14,790 square feet of office and lab facilities under operating leases that expire in , with rights to extend for a five-year period. In the Merger with Reneo, the Company assumed the lease in Irvine, California, where it leases office space under a lease agreement that expires in November 2026 (“Irvine lease”). In January 2025, the Company entered into a sublease on the Irvine lease for all of the leased square footage, which expires in November 2026. Payments received under the sublease for the year ended December 31, 2025 were $231 thousand and were netted against operating lease costs in the Statement of Operations.
Right-of-use assets and lease liabilities for operating leases as included in the Company’s consolidated financial statements are as follows (in thousands):
|
|
December 31, |
|
|
December 31, 2024 |
|
||
Operating lease right-of-use assets |
|
$ |
387 |
|
|
$ |
770 |
|
Current operating lease liabilities |
|
|
549 |
|
|
|
536 |
|
Noncurrent operating lease liabilities |
|
|
— |
|
|
|
549 |
|
Total lease liabilities |
|
$ |
549 |
|
|
$ |
1,085 |
|
Lease expense for operating leases, net of sublease receipts, as included in the Company’s consolidated financial statements are as follows (in thousands):
|
December 31, |
|
|||||
|
2025 |
|
|
2024 |
|
||
Operating lease cost |
$ |
187 |
|
|
$ |
236 |
|
Variable lease expense |
|
162 |
|
|
|
187 |
|
Lease term, discount rates, and additional information for operating leases are as follows (in thousands):
|
|
As of December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Weighted-average remaining lease term - operating leases (years) |
|
0.87 |
|
|
1.87 |
|
||
Weighted-average discount rate - operating leases |
|
|
4.5 |
% |
|
|
4.5 |
% |
Cash paid for amounts included in the measurement of |
|
|
|
|
|
|
||
Operating cash flows for operating leases |
|
$ |
571 |
|
|
$ |
315 |
|
The aggregate maturities of the Company’s operating lease liabilities were as follows as of December 31, 2025 (in thousands):
2026 |
$ |
560 |
|
Total future minimum lease payments |
|
560 |
|
Less: imputed interest |
|
(11 |
) |
Less: current portion |
|
(549 |
) |
Operating lease liability, net of current portion |
$ |
— |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 12, 2026 | Showing above |
| 2024 | Mar 10, 2025 | |
| 2023 | Mar 28, 2024 | |
| 2022 | Mar 27, 2023 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.