Sutro Biopharma Q3 2024: revenue $8.5M, cash $388.3M, luvelta registrational trial underway

SUTRO BIOPHARMA, INC.

2024-Q3 EPS reported -$2.07 revenue$47,234,000

Cash, equivalents, and marketable securities $388.3M as of September 30, 2024.
Revenue $8.5M for Q3 2024, down from $16.9M in Q3 2023 (49.7% decrease).
Total operating expenses $76.4M, up from $60.9M in Q3 2023; R&D $62.1M, G&A $14.3M.
Realized gain of $32.1M from sale of Vaxcyte shares; no remaining Vaxcyte holdings.
Initiated registrational trial for luvelta in pediatric leukemia; IND for STRO-004 expected H2 2025.

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