Almost correct - but Angioblast's offices were originally on Madison Avenue, the move to 505 Fifth Avenue occurred after the merger.
But essentially you're right, this is nothing new. And if I recall correctly the original sub-lease was on very favourable terms due to desperation on the part of the original lessee. The new lease would likely be even more favourable!
So I'd not be getting too concerned about this - it is not too expensive, it is in the centre of the universe as far as institutional investors go, and it is a great place to recruit clin and reg people - all in all a great positive!!
Australian Newspaper MSB trial failure, page-42
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