Sutro reports Q2 revenue $25.7M, cash $426M; luvelta trials advancing

SUTRO BIOPHARMA, INC.

2024-Q2 EPS reported -$1.49 revenue$38,714,000

Revenue $25.7M (up from $10.4M YoY) driven by Astellas collaboration and Vaxcyte agreement.
Cash, equivalents, and securities $375.6M; Vaxcyte stock fair value $50.4M (total $426M).
Operating expenses $74.4M (R&D $62.0M, G&A $12.4M); includes non-cash stock comp and depreciation.
Luvelta Phase 3 REFRαME-O1 randomized portion underway; pediatric AML trial (REFRαME-P1) expected H2 2024.
Appointed Sukhi Jagpal to Board and Barbara Leyman as Chief Business Development Officer.

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