SUTRO BIOPHARMA INC

For the period ended Dec 31, 2023. Filed Mar 25, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 25, 2024

STRO$10.61+10.3%Stored close · as of Nov 9, 2026

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Contents

Statements of Cash Flows

(in thousands)

	Year Ended December 31,
2023 · 2022 · 2021
Operating activities
Net loss		$(106,793)		$(119,204)		$(105,538)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		6,816		5,690		4,844
(Accretion of discount) amortization of premium on marketable securities		(9,075)		(364)		2,781
Stock-based compensation		24,908		26,304		23,241
Non-cash lease expenses		3,628		2,598		4,929
Realized gain on equity securities		-		(4,074)		-
Unrealized (gain) loss on equity securities		(9,917)		(12,130)		4,454
Non-cash interest expense on deferred royalty obligation		12,570		-		-
Other		622		324		1,230
Changes in operating assets and liabilities:
Accounts receivable		(28,956)		5,341		(6,895)
Prepaid expenses and other assets		109		(3,544)		(3,959)
Accounts payable		4,812		(1,225)		2,708
Accrued compensation		1,544		1,725		2,594
Accrued expenses and other liabilities		25,300		6,562		5,866
Deferred revenue		(32,599)		93,648		(15,207)
Change in operating lease liability		(4,585)		1,898		(2,727)
Net cash provided by (used in) operating activities		(111,616)		3,549		(81,679)
Investing activities
Purchases of marketable securities		(460,301)		(216,671)		(248,727)
Maturities of marketable securities		434,966		127,960		148,250
Sales of marketable securities		25,726		32,799		18,476
Proceeds from sale of equity securities, net		-		28,739		-
Purchases of equipment and leasehold improvements		(4,315)		(7,858)		(15,323)
Proceeds from exercise of options for Vaxcyte shares		-		9		9
Net cash (used in) provided by investing activities		(3,924)		(35,022)		(97,315)
Financing activities
Proceeds from sales of common stock, net of issuance costs		11,971		56,270		-
Payments of debt		(12,500)		(9,375)		-
Proceeds from the sale of future royalties, net of issuance costs		136,208		-		-
Proceeds from exercise of common stock options		314		268		2,485
Taxes paid related to net share settlement of restricted stock units		(490)		(463)		(987)
Return and retirement of common stock		-		-		(7)
Proceeds from employee stock purchase plan		2,051		1,613		1,765
Net cash provided by financing activities		137,554		48,313		3,256
Net increase (decrease) in cash, cash equivalents and restricted cash		22,014		16,840		(175,738)
Cash, cash equivalents and restricted cash at beginning of year		48,126		31,286		207,024
Cash, cash equivalents and restricted cash at end of year		$70,140		$48,126		$31,286
Supplemental disclosure of cash flow information
Cash paid for interest		$1,126		$1,869		$2,046
Income tax paid		$379	$	-		$103
Supplemental Disclosures of Non-cash Investing and Financing Information
Purchase of property and equipment included in accounts payable		$214		$280		$370
Remeasurement of operating lease right-of-use assets for lease modification	$	-	$	-		$4,227
Financing component associated with program fees		$9,836		$5,079		$610
Value of 167,780 shares of Vaxcyte common stock received under the Vaxcyte Agreement	$	-		$7,500	$	-

SUTRO BIOPHARMA, Inc.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.