secwatch.observer — SEC 8-K summary
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Issuer:     SUTRO BIOPHARMA, INC. (STRO)
CIK:        0001382101
Form:       8-K
Filed at:   2022-12-20T23:59:59+00:00
Accession:  0000950170-22-026823
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Sutro grants Vaxcyte option to manufacture and source extract for vaccines; receives $22.5M upfront
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- Upfront payment of $22.5M: $7.5M in Vaxcyte common stock, $15M in cash.
- Option exercise triggers $75M cash payment in two installments; regulatory milestones up to $60M additional.
- Option period of five years, with potential acceleration on Vaxcyte change of control.
- Vaxcyte gains authorization to source cell-free extract from an independent CMO for its licensed products.
- Economic terms of existing agreements between Sutro and Vaxcyte remain unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1382101/000095017022026823/0000950170-22-026823-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1382101/000095017022026823/stro-20221219.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-026823

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