secwatch.observer — SEC 8-K summary
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Issuer:     SUTRO BIOPHARMA, INC. (STRO)
CIK:        0001382101
Form:       8-K
Filed at:   2022-08-08T23:59:59+00:00
Accession:  0000950170-22-015573
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sutro Biopharma Q2 revenue $28.1M; Astellas collaboration adds $90M cash, cash runway into H1 2024
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- Q2 revenue $28.1M (flat YoY); operating expenses $47.5M vs $37.9M in Q2 2021.
- Cash $191.6M at June 30; plus $90M Astellas upfront in July, providing runway into H1 2024.
- Entered iADC collaboration with Astellas for up to 3 targets; $90M upfront, $422.5M milestones per candidate.
- Merck triggered $10M milestone upon first patient dosed in Phase 1 of MK-1484 (IL-2 agonist).
- FDA signaled accelerated approval pathway possible for STRO-002 in platinum-resistant ovarian cancer; data expected H2 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1382101/000095017022015573/0000950170-22-015573-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1382101/000095017022015573/stro-20220808.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-015573

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