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Sep 30, 2024
Sutro Q3 2024 Earnings Report
Sutro Biopharma reported financial results for the third quarter of 2024 and recent business highlights.
Key Takeaways
Sutro Biopharma reported $8.5 million in revenue for Q3 2024, with cash, cash equivalents, and marketable securities totaling $388.3 million as of September 30, 2024. The company is advancing its lead program, luveltamab tazevibulin (luvelta), with ongoing clinical trials and plans for multiple IND filings in the coming years.
Initiated registrational trial for luvelta in rare pediatric leukemia and a clinical trial for non-small cell lung cancer (NSCLC).
Presented Phase 1b data of luvelta with bevacizumab at ESMO 2024, demonstrating a 56% response rate at the recommended Phase 2 dose.
As of September 30, 2024, the company had $388.3 million in cash, cash equivalents and marketable securities.
Expects to deliver three Investigational New Drug (IND) applications in the next three years based on next-generation ADC technology.