Sutro Biopharma Q1 2024: Revenue $13.0M, Cash $267.6M; IND cleared for NSCLC trial

SUTRO BIOPHARMA, INC.

2024-Q1 EPS reported -$0.95 revenue$13,008,000

Q1 2024 revenue of $13.0M (vs $12.7M YoY); total operating expenses $69.6M ($56.9M R&D, $12.7M G&A).
Cash and investments $267.6M plus $45.6M in Vaxcyte shares; April added $75M from Ipsen licensing and $75M equity offering.
IND cleared for luvelta in NSCLC; Phase 2 expected to start H2 2024, initial data H1 2025.
REFRαME-O1 registration trial for PROC now enrolling; pediatric AML trial expected to begin H2 2024.
STRO-003 licensed to Ipsen; Sutro eligible for up to $899M in milestones plus tiered royalties.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SUTRO BIOPHARMA, INC. reported the quarter ended March 31, 2024 results: revenue $13.0 million, net income $267.6 million.

Period: the quarter ended March 31, 2024
Revenue: $13.0 million
Net income: $267.6 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 $13.0 million for the quarter ended March 31, 2024, as compared to $12.7 million for the same period in 2023, with the 2024 amount related principally to the Astellas collaboration, and the

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Source: SEC EDGAR

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