secwatch.observer — SEC 8-K summary
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Issuer:     SUTRO BIOPHARMA, INC. (STRO)
CIK:        0001382101
Form:       8-K
Filed at:   2023-06-26T23:59:59+00:00
Accession:  0000950170-23-029731
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Sutro Biopharma sells 4% royalty on Vaxcyte products to Blackstone for $140M upfront
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- Sold 4% royalty interest in Vaxcyte's future net sales (including VAX-24) to Blackstone Life Sciences.
- Received $140M upfront payment on June 23, 2023 from Blackstone.
- Eligible for up to $250M additional payments upon achieving return thresholds.
- Retains rights to discover and develop vaccines for non-infectious diseases, including cancer.
- Agreed to covenants on amending, assigning, and terminating the License Agreement with Vaxcyte.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1382101/000095017023029731/0000950170-23-029731-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1382101/000095017023029731/stro-20230621.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-029731

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