secwatch.observer — SEC 8-K summary
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Issuer:     SUTRO BIOPHARMA, INC. (STRO)
CIK:        0001382101
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0000950170-23-021973
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1382101/000095017023021973/0000950170-23-021973-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1382101/000095017023021973/stro-20230515.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-021973

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