---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-309137"
form_type: "8-K"
ticker: "PCVX"
cik: "0001649094"
company_name: "Vaxcyte, Inc."
filed_at: "2022-12-20T23:59:59+00:00"
generated_at: "2026-06-21T01:47:57.735086+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Vaxcyte in option deal with Sutro for cell-free extract; $22.5M upfront

## Summary
- Upfront consideration of $22.5M: $10M cash, $7.5M stock (due within 5-7 days), $5M after Form Definitive Agreement.
- Option exercise price of $75M cash in two installments plus up to $60M in regulatory milestone payments.
- Vaxcyte gains right to directly source cell-free extract from CMOs and option for exclusive internal manufacture/improvements.
- Option period is five years, subject to acceleration upon change of control of Vaxcyte.
- Agreement supports Vaxcyte's vaccine pipeline by securing supply and development rights for extract.

## SEC filing metadata
- accession: 0001193125-22-309137
- form_type: 8-K
- ticker: PCVX
- cik: 0001649094
- company_name: Vaxcyte, Inc.
- filed_at: 2022-12-20T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649094/000119312522309137/0001193125-22-309137-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649094/000119312522309137/d432914d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-309137
- JSON: https://secwatch.observer/filing/0001193125-22-309137.json
- Plain text: https://secwatch.observer/filing/0001193125-22-309137.txt

## Key facts
- Material Agreements
  Vaxcyte, Inc. entered into Option Agreement with Sutro Biopharma, Inc. valued at $22.5 million (effective 2022-12-19).
  - Action: entry
  - Agreement: license
  - Counterparty: Sutro Biopharma, Inc.
  - Value: $22.5 million
  - Effective: 2022-12-19
  source text: On December 19, 2022 (the “Effective Date”), Vaxcyte, Inc. (“Vaxcyte”) entered into an option grant agreement (the “Option Agreement”) with Sutro Biopharma, Inc. (“Sutro,” and together with Vaxcyte, the “Companies”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649094/000119312522309137/0001193125-22-309137-index.htm

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