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Sep 30, 2020
Sutro Q3 2020 Earnings Report
Sutro Biopharma reported financial results for the third quarter of 2020 and provided business highlights and developments.
Key Takeaways
Sutro Biopharma reported revenue of $17.8 million and a net income of $17.1 million for the third quarter of 2020. The company's cash, cash equivalents, and marketable securities totaled $202.4 million as of September 30, 2020.
Continued progress on STRO-002, folate receptor-alpha (FolRα) targeting ADC for development in ovarian cancer
Dose escalation continues in STRO-001, a CD74 targeting ADC for development in B-cell malignancies
Phase 1 trial for CC-99712, an ADC targeting BCMA, is continuing to enroll with 3.0 mg/kg in the last reported dose level
Earned a milestone payment from EMD Serono collaboration on MUC1-EGFR bispecific ADC
Sutro
Sutro
Forward Guidance
Sutro's internal product candidates are advancing in clinical development, and additional general and administrative expenses are expected to be incurred as a public company.