secwatch.observer — SEC 8-K summary
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Issuer:     SUTRO BIOPHARMA, INC. (STRO)
CIK:        0001382101
Form:       8-K
Filed at:   2023-11-27T23:59:59+00:00
Accession:  0000950170-23-066112
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Vaxcyte exercises option, pays Sutro $50M; manufacturing rights agreement effective
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- Vaxcyte exercised option on Nov 21, 2023, paying $50M cash as first installment.
- Vaxcyte must pay an additional $25M within six months of exercise date.
- Up to $60M in additional regulatory milestone payments could be paid to Sutro.
- Manufacturing Rights Agreement grants Vaxcyte exclusive, perpetual, royalty-free license to manufacture extract.
- Sutro can terminate if Vaxcyte breaches confidentiality or fails to pay; Vaxcyte can terminate on 60 days notice.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1382101/000095017023066112/0000950170-23-066112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1382101/000095017023066112/stro-20231121.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-066112

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