Sutro FY2021 revenue $61.9M, operating expenses $160.4M; cash $229.5M; Tasly payment at risk

SUTRO BIOPHARMA, INC.

2022-FY EPS reported -$2.29 revenue$61,880,000

Cash, equivalents and marketable securities $229.5M at Dec 31, 2021, down from $326.5M; runway into H2 2023.
Revenue $61.9M (up 45% from $42.7M) from Merck, BMS, EMD Serono collaborations.
Operating expenses $160.4M (up 41% from $113.8M); R&D $104.4M, G&A $56.0M.
STRO-002 Phase 1 dose-expansion enrollment completed Nov 2021; registrational study discussions expected mid-2022.
Tasly seeks to renegotiate STRO-002 Greater China terms; $40M initial payment uncertain; Sutro considering remedies.

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