secwatch.observer — SEC 8-K summary
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Issuer:     SUTRO BIOPHARMA, INC. (STRO)
CIK:        0001382101
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0000950170-24-058701
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1382101/000095017024058701/0000950170-24-058701-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1382101/000095017024058701/stro-20240513.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-058701

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