SUTRO BIOPHARMA INC
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
STRO$10.17-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
(In thousands)
| Nine Months Ended | |||
|---|---|---|---|
| September 30, | |||
| 2024 · 2023 | |||
| Operating activities | |||
| Net loss | $(155,018) | $(137,858) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 5,350 | 5,085 | |
| Accretion of discount on marketable securities | (8,180) | (6,022) | |
| Stock-based compensation | 18,772 | 18,685 | |
| Non-cash lease expenses | 3,788 | 2,447 | |
| Realized gain on sale of equity securities | (32,139) | - | |
| Unrealized gain on equity securities | - | (2,023) | |
| Non-cash interest expense on deferred royalty obligation | 22,380 | 6,378 | |
| Other | 610 | 414 | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 29,423 | (9,505) | |
| Prepaid expenses and other assets | (4,629) | 778 | |
| Accounts payable | (3,415) | 755 | |
| Accrued compensation | (1,509) | (1,773) | |
| Accrued expenses and other liabilities | (6,610) | 4,579 | |
| Deferred revenue | 16,085 | (4,507) | |
| Change in operating lease liability | (4,710) | (3,121) | |
| Net cash used in operating activities | (119,802) | (125,688) | |
| Investing activities | |||
| Purchases of marketable securities | (335,490) | (379,728) | |
| Maturities of marketable securities | 360,697 | 390,960 | |
| Sales of marketable securities | 33,796 | 11,231 | |
| Proceed from sale of equity securities | 74,047 | - | |
| Purchases of equipment and leasehold improvements | (2,030) | (2,874) | |
| Net cash provided by investing activities | 131,020 | 19,589 | |
| Financing activities | |||
| Proceeds from sales of common stock, net of issuance costs | 71,527 | 11,971 | |
| Proceeds from sales of common stock to Ipsen Biopharmaceuticals, Inc. (USA) | 25,000 | - | |
| Payment of debt | (4,083) | (9,375) | |
| Proceeds from the sale of future royalties, net of issuance costs | - | 136,208 | |
| Proceeds from exercise of common stock options | 271 | 314 | |
| Taxes paid related to net shares settlement of restricted stock units | (485) | (490) | |
| Proceeds from employee stock purchase plan | 1,848 | 2,051 | |
| Net cash provided by financing activities | 94,078 | 140,679 | |
| Net increase in cash, cash equivalents and restricted cash | 105,296 | 34,580 | |
| Cash, cash equivalents and restricted cash at beginning of period | 70,140 | 48,126 | |
| Cash, cash equivalents and restricted cash at end of period | $175,436 | $82,706 | |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $63 | $971 | |
| Income tax paid | $15,166 | $ | - |
| Supplemental disclosure of non-cash investing and financing information: | |||
| Purchases of equipment included in accounts payable and accrued expense | $676 | $327 | |
| Financing component associated with program fees | $5,186 | $7,531 | |
| Premium on common stock issued to Ipsen Biopharma, Inc. (USA) | $429 | $ | - |
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