---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-009548"
form_type: "8-K"
ticker: null
cik: "0000819050"
company_name: "Fresh Tracks Therapeutics, Inc."
filed_at: "2024-03-07T23:59:59+00:00"
generated_at: "2026-06-05T02:10:28.300656+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Fresh Tracks Therapeutics terminates exclusive license agreement with Carna Biosciences for STING inhibitors

## Summary
- Terminated Exclusive License Agreement with Carna Biosciences effective March 1, 2024, returning worldwide rights to STING inhibitors.
- Initial $2.0M cash payment already made; all future contingent milestone payments (up to $258M) and royalties (up to 10%) are terminated.
- Survival of certain provisions: indemnification, confidentiality, dispute resolution, audit rights, record retention, taxes, and ownership of inventions.
- Company had acquired exclusive rights to research, develop, and commercialize Carna's STING inhibitor portfolio in February 2022.
- No new financial terms or costs disclosed for the termination; the agreement is nullified except for surviving clauses.

## SEC filing metadata
- accession: 0001628280-24-009548
- form_type: 8-K
- cik: 0000819050
- company_name: Fresh Tracks Therapeutics, Inc.
- filed_at: 2024-03-07T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/819050/000162828024009548/0001628280-24-009548-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/819050/000162828024009548/frtx-20240305.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-009548
- JSON: https://secwatch.observer/filing/0001628280-24-009548.json
- Plain text: https://secwatch.observer/filing/0001628280-24-009548.txt

## Key facts
- Material Agreements
  Fresh Tracks Therapeutics, Inc. terminated Termination Agreement with Carna Biosciences, Inc. (effective 2024-03-05).
  - Action: termination
  - Agreement: license
  - Counterparty: Carna Biosciences, Inc.
  - Effective: 2024-03-05
  source text: On March 5, 2024, Fresh Tracks Therapeutics, Inc. (the “Company”) and Carna Biosciences, Inc. (“Carna”) entered into a Termination of License Agreement (the “Termination Agreement”), pursuant to which the parties agreed to terminate, effective as of March 1, 2024, that certain Exclusive License Agreement, dated as of February 2, 2022, by and between Carna and the Company (the “Carna License Agreement”), subject to the survival of certain provisions regarding indemnification, confidentiality, dispute resolution, record retention, audit rights, taxes and ownership of inventions.
  evidence_url: https://www.sec.gov/Archives/edgar/data/819050/000162828024009548/0001628280-24-009548-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.