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Sep 30, 2021
Sutro Q3 2021 Earnings Report
Sutro Biopharma reported financial results for the third quarter of 2021, highlighted business updates, and previewed anticipated milestones for the remainder of 2021.
Key Takeaways
Sutro Biopharma reported revenue of $8.5 million for the third quarter of 2021. The company's cash, cash equivalents, and marketable securities totaled $254.2 million as of September 30, 2021, projecting a cash runway into the second half of 2023.
Patient enrollment has been completed for the STRO-002 Phase 1 ovarian cancer dose-expansion cohort, with an interim data update expected in the second half of 2021.
STRO-001 Phase 1 dose escalation for non-Hodgkin’s lymphoma and multiple myeloma is ongoing to achieve a recommended Phase 2 dose.
Cash, cash equivalents and marketable securities totaled $254.2 million as of September 30, 2021, with projected cash runway into the second half of 2023.
Merck has extended the first cytokine derivative research program by up to two years.
Sutro
Sutro
Forward Guidance
Sutro Biopharma is advancing its pipeline, including STRO-002 and STRO-001, and expects to report initial data for the STRO-002 dose-expansion cohort in the second half of 2021.
Positive Outlook
- STRO-002 patient enrollment completed for ovarian cancer dose-expansion cohort.
- STRO-002 study in combination with bevacizumab has cleared protocol, with the first patient expected later this year.
- STRO-001 dose escalation is ongoing to achieve a recommended phase 2 dose.
- Sutro entered into a collaboration with BioNova Pharmaceuticals Limited to assess the therapeutic potential for STRO-001.
- Merck extended the first cytokine derivative research program by up to two years.