Sutro Biopharma Q1 2023: Revenue $12.7M, cash $251.5M, runway into H2 2024

SUTRO BIOPHARMA, INC.

2023-Q1 EPS reported -$0.85 revenue$12,674,000

Cash and investments $251.5M plus Vaxcyte shares valued at $25.0M; cash runway into second half of 2024.
Revenue of $12.7M for Q1 2023 up from $5.9M in Q1 2022, primarily from Astellas, Merck, BMS collaborations.
Total Q1 operating expenses $54.9M ($39.4M R&D, $15.5M G&A) vs $45.0M in Q1 2022.
Luvelta Phase 1 dose-expansion data to be oral presentation at ASCO 2023; REFRaME registration trial initiation in Q2 2023.
Leadership changes: Venkatesh Srinivasan promoted to CTOO; Trevor Hallam stepping down as President/CSO effective May 31, 2023.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

SUTRO BIOPHARMA, INC. reported financial results for the quarter ended March 31, 2023.

Period: the quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 15, 2023, Sutro Biopharma, Inc. (the “ Company ”) issued a press release announcing its financial results for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0000950170-23-021973

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