Sutro Biopharma Q3 revenue rises, extends cash runway to mid-2027

Reuters11-07

Sutro Biopharma Q3 revenue rises, extends cash runway to mid-2027

Overview

Sutro Biopharma Q3 revenue increased to $9.7 mln, primarily from Astellas collaboration
Company received FDA clearance for STRO-004 IND, plans to dose first patient by year-end
Operating expenses decreased significantly due to restructuring, extending cash runway to mid-2027

Outlook

Sutro plans to dose first patient with STRO-004 before year-end
STRO-006 expected to enter clinical development in 2026
Sutro targets IND submission for dual-payload ADC program in 2027

Result Drivers

RESTRUCTURING BENEFITS - Organizational restructuring extends cash runway to mid-2027, supporting ADC focus

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Revenue		$9.69 mln
Q3 Net Income		-$56.86 mln
Q3 Operating Expenses		$58.15 mln
Q3 Operating Income		-$48.46 mln

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Sutro Biopharma Inc is $2.00, about 50.8% above its November 5 closing price of $0.98

Press Release: ID:nGNX2L37Z3

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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