Sutro Biopharma reports FY2023 revenue of $153.7M and $333.7M cash, runway into H2 2025

SUTRO BIOPHARMA, INC.

Revenue $153.7M in FY2023 vs $67.8M in FY2022, driven by Vaxcyte option exercise and collaborations.
Cash and investments $333.7M plus Vaxcyte stock valued at $41.9M, providing runway into H2 2025.
Total operating expenses $243.0M; R&D $180.4M, G&A $62.6M; includes stock-based comp $24.9M, D&A $6.8M.
Jane Chung promoted to President and COO; enrollment in REFRαME-O1 for PROC ongoing, Part 1 expected complete H1 2024.
Vaxcyte paid $50M for manufacturing rights option, with additional $25M due within six months and up to $60M milestones.

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 the year ended December 31, 2023 results: revenue $153.7 million.

Period: the year ended December 31, 2023
Revenue: $153.7 million
Result: reported results

Exact text from the filing

stock on the last trading day of each reporting period, with any non-operating, unrealized gains and losses recorded in Sutro’s statements of operations. Revenue Revenue was $153.7 million for the year ended December 31, 2023, as compared to $67.8 million for the same period in 2022, with the 2023 amount related principally to the Vaxcyte manufacturing rights

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Source: SEC EDGAR

accession 0000950170-24-035948

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