secwatch.observer — SEC 8-K summary
======================================

Issuer:     Vaxcyte, Inc. (PCVX)
CIK:        0001649094
Form:       8-K
Filed at:   2022-12-20T23:59:59+00:00
Accession:  0001193125-22-309137
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649094/000119312522309137/0001193125-22-309137-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649094/000119312522309137/d432914d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-309137

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