ROCKET PHARMACEUTICALS, INC.
For the period ended Jun 30, 2026. Filed Aug 10, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Operating Leases
During the year ended December 31, 2025, the Company was negotiating a sublease of the ESB lease and determined that the changes in the intended use of the lease represented an impairment indicator as negotiations indicated that the carrying value of the right-of-use asset may not be recoverable. This resulted in a right-of-use asset impairment charge of approximately $0.3 million in 2025. The ESB sublease was completed in April 2026. In conjunction with the completion of the sublease, the Company received a security deposit of approximately $0.1 million. Rental income received under the sublease agreement was less than $0.1 million for thethree and six months ended June 30, 2026.
The Company has a certificate of deposit of $0.8 million with a bank as collateral for the ESB Lease Agreement letter of credit which is classified as part of restricted cash in the Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025.
In connection with the acquisition of Renovacor, the Company added operating leases for space at facilities in Hopewell, New Jersey. The Company intends to sublease the facilities in Hopewell, New Jersey and signed the first agreement to sublease one of these facilities in January 2024. Rental income received under sublease agreements was less than $0.1 million for thethree and six months ended June 30, 2026 and 2025, respectively.
Rent expense excluding rental income was $0.3 million and $0.5 million for thethree and six months ended June 30, 2026, respectively. Rent expense excluding rental income was $0.3 million and $0.6 million for the three and six months ended June 30, 2025, respectively.
The total restricted cash balance for the Company’s operating and finance leases as of June 30, 2026 and December 31, 2025 was $0.8 million.
The following table summarizes lease cost for thesix months ended June 30, 2026 and 2025:
| Six Months Ended June 30, | ||
|---|---|---|
| Lease cost | 2026 | 2025 |
| Operating lease cost | $454 | $523 |
| Finance lease cost: | ||
| Amortization of right of use asset | 1,077 | 1,077 |
| Interest on lease liabilities | 946 | 945 |
| Total lease cost | $2,477 | $2,545 |
The following table summarizes the future lease payments of the Company’s operating lease liabilities on an undiscounted cash flow basis:
| Fiscal Year Ending December 31, | Amounts |
|---|---|
| 2026 (six months) | $513 |
| 2027 | 872 |
| 2028 | 638 |
| 2029 | 627 |
| 2030 | 557 |
| Thereafter | 1,323 |
| Total lease payments | $4,530 |
| Less: interest | (1,003) |
| Total operating lease liabilities | $3,527 |
The following table summarizes the future lease payments of the Company’s finance lease liability on an undiscounted cash flow basis:
| Fiscal Year Ending December 31, | Amounts |
|---|---|
| 2026 (six months) | $963 |
| 2027 | 1,969 |
| 2028 | 2,028 |
| 2029 | 2,089 |
| 2030 | 2,152 |
| Thereafter | 36,763 |
| Total lease payments | $45,964 |
| Less: interest | (24,693) |
| Total finance lease liability | $21,271 |
The following table summarizes the operating and financing lease liabilities and right-of-use assets as of June 30, 2026 and December 31, 2025:
| Leases | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Operating right-of-use assets | $3,190 | $3,210 |
| Operating current lease liabilities | $1,039 | $1,003 |
| Operating noncurrent lease liabilities | 2,488 | 2,600 |
| Total operating lease liabilities | $3,527 | $3,603 |
| Finance right-of-use assets | $39,132 | $40,209 |
| Finance current lease liability | $1,940 | $1,912 |
| Finance noncurrent lease liability | 19,331 | 19,362 |
| Total finance lease liability | $21,271 | $21,274 |
| Six Months Ended June 30, | ||
|---|---|---|
| Other Information | 2026 | 2025 |
| Cash paid for amounts included in the measurement of lease liabilities: | ||
| Operating cash flows from operating leases | $510 | $500 |
| Cash flows from finance lease | $948 | $921 |
| As of June 30, | ||
| 2026 | 2025 | |
| Weighted-average remaining lease term - operating leases | 5.7 years | 6.4 years |
| Weighted-average remaining lease term - finance lease | 18.2 years | 19.2 years |
| Weighted-average discount rate - operating leases | 8.94% | 8.83% |
| Weighted-average discount rate - finance lease | 8.96% | 8.96% |
OK
Commitments and Contingencies
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.