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Dec 31, 2019
Sutro Q4 2019 Earnings Report
Sutro Biopharma reported full year 2019 financial results and recent business highlights and developments.
Key Takeaways
Sutro Biopharma, Inc. reported its financial results for the year ended December 31, 2019. The company had cash, cash equivalents and marketable securities of $133.5 million as of December 31, 2019, and revenue of $42.7 million for the year ended December 31, 2019.
STRO-002 data from an ongoing Phase 1 clinical trial in ovarian and endometrial cancers late-breaking abstract was accepted by AACR; Sutro plans to announce updated data in the second quarter 2020.
STRO-001 Phase 1 clinical trial and dose escalation ongoing in multiple myeloma and lymphoma.
Collaborator Merck extends research term of collaboration’s first cytokine-derivative program.
Sutro unveiled innovative cancer therapy approach using precise tumor targeted immunostimulant antibody drug conjugate at World ADC London.
Forward Guidance
Sutro is focused on advancing its oncology therapeutics and collaborations.
Positive Outlook
- STRO-002 Phase 1 trial data update expected in Q2 2020.
- STRO-001 Phase 1 trial ongoing with additional data expected in the second half of 2020.
- Merck collaboration extended, advancing cytokine-derivative product candidate.
- BMS BCMA-targeting ADC (CC-99712) Phase 1 trial enrolling patients.
- EMD Serono bispecific ADC designated as clinical development candidate.
Challenges Ahead
- Cancellation of AACR Annual Meeting delayed presentation of STRO-002 data.
- Clinical development is subject to inherent uncertainties.
- Potential delays in patient enrollment for clinical trials.
- Dependence on collaborations with third parties.
Historical Earnings Impact
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