secwatch.observer — SEC 8-K summary
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Issuer:     SUTRO BIOPHARMA, INC. (STRO)
CIK:        0001382101
Form:       8-K
Filed at:   2022-06-28T23:59:59+00:00
Accession:  0000950170-22-012215
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sutro Biopharma enters $90M upfront license deal with Astellas for ADCs up to 3 targets
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- Astellas pays $90M upfront; Sutro eligible for up to $422.5M in milestones plus tiered royalties (low double-digit to mid-teen %).
- Sutro can elect US cost/profit sharing on any product candidate, replacing royalties in the US.
- Deal covers up to 3 biological targets selected by Astellas; Sutro handles preclinical development.
- Termination includes Astellas' convenience termination on 30 days' notice and mutual termination for material breach.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1382101/000095017022012215/0000950170-22-012215-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1382101/000095017022012215/stro-20220627.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-012215

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer