Sutro Q2 2023: cash $358M, revenue $10.4M, initiates pivotal luvelta trial, Blackstone deal

SUTRO BIOPHARMA, INC.

2023-Q2 EPS reported -$1.49 revenue$23,086,000

Cash, equivalents and marketable securities $358.3M; Vaxcyte shares valued at $33.3M; runway into H1 2025.
Revenue $10.4M (down from $28.1M YoY); total operating expenses $56.6M (up from $47.5M).
Initiated REFRaME Phase 2/3 pivotal study for luvelta in platinum-resistant ovarian cancer; enrollment underway.
Received $140M upfront from Blackstone royalty monetization; eligible for up to $250M milestone payments.
Luvelta endometrial cancer data to be presented at ESMO 2023; updated ovarian data expected H2 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SUTRO BIOPHARMA, INC. reported financial results for the second quarter of 2023.

Period: the second quarter of 2023
Result: reported results

Exact text from the filing

On August 10, 2023, Sutro Biopharma, Inc. (the “ Company ”) issued a press release announcing its financial results for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0000950170-23-041404

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