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Sep 30, 2023
Sutro Q3 2023 Earnings Report
Reported financial results for the third quarter of 2023, business highlights, and select anticipated milestones.
Key Takeaways
Sutro Biopharma reported its Q3 2023 financial results, business highlights, and a preview of select anticipated milestones. The company had cash and investments of $321.1 million and shares of Vaxcyte common stock valued at $34.0 million as of September 30, 2023, providing a projected cash runway into the first half of 2025. Revenue for the quarter was $16.9 million, and total operating expenses were $60.9 million.
Luvelta demonstrated encouraging preliminary anti-tumor activity in initial data from the Phase 1 dose-expansion study for patients with endometrial cancer presented at ESMO 2023.
Updated luvelta data from Compassionate Use Access demonstrating anti-leukemic activity in pediatric patients with relapsed/refractory CBF2AT3-GLIS2 AML to be presented in a poster at ASH 2023.
Dr. Hans-Peter Gerber joined Sutro as Chief Scientific Officer in September 2023.
Sutro had cash and investments of $321.1 million and shares of Vaxcyte common stock valued at $34.0 million as of September 30, 2023, which together provide a projected cash runway into the first half of 2025.
Sutro
Sutro
Forward Guidance
Sutro is evaluating its programs and spending as it fully develops its 2024 goals and financial plan.