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Mar 31, 2020
Sutro Q1 2020 Earnings Report
Sutro Biopharma reported financial results for the first quarter of 2020 and recent business highlights.
Key Takeaways
Sutro Biopharma reported revenue of $7.2 million for the quarter ended March 31, 2020, compared to $8.6 million in the corresponding 2019 quarter. The company's cash, cash equivalents and marketable securities were $129.6 million as of March 31, 2020, compared to $133.5 million as of December 31, 2019.
STRO-002 Phase 1 clinical trial is currently in dose-escalation, with 30 heavily pre-treated patients enrolled through April 20, 2020, who have recurrent platinum resistant or refractory ovarian cancer
Merck extended by one year the research term of the collaboration’s first program, which included a payment to Sutro.
Sutro unveiled innovative cancer therapy approach using precise tumor targeted immunostimulant antibody-drug conjugate at World ADC London
SutroVax is progressing their broader spectrum pneumococcal conjugate vaccine (SVX-24) through the late stages of preclinical development and is targeting an IND filing for 2021.
Sutro
Sutro
Forward Guidance
Sutro expects both research and development expenses, and general and administrative expenses to increase in 2020.