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Dec 31, 2023
Sutro Q4 2023 Earnings Report
Sutro reported full year 2023 financial results with business highlights and anticipated milestones.
Key Takeaways
Sutro Biopharma reported its full year 2023 financial results, highlighting the initiation of the REFRαME-O1 study of luvelta and the advancement of earlier stage programs. The company also strengthened its management team and cash position.
Initiated REFRαME-O1, a registration-directed study of luvelta for platinum-resistant ovarian cancer (PROC) patients.
Advanced earlier stage programs.
Strengthened management team with the promotion of Jane Chung to President and Chief Operating Officer.
Bolstered cash position with additional non-dilutive capital.
Forward Guidance
Sutro anticipates continuing momentum in 2024 with the initiation of a second registration-directed trial with luvelta, REFRαME-P1, for pediatric patients with CBF/GLIS AML, and two additional planned INDs.
Positive Outlook
- Initiation of REFRαME-P1 trial for pediatric patients with CBF/GLIS AML planned.
- Two additional INDs planned.
- Continued clinical development planned in combination with bevacizumab for the treatment of ovarian cancer.
- Continued clinical development planned in combination with bevacizumab for the treatment of endometrial cancer.
- IND submission planned for STRO-003, a ROR1-targeting ADC, in 2024.
Challenges Ahead
- Current market conditions provide a challenging financing environment.
- Evaluating programs and spending.
- Potential delays in clinical trial enrollment.
- Uncertainties in regulatory approvals.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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