SUTRO BIOPHARMA INC

For the period ended Dec 31, 2024. Filed Mar 13, 2025.

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.

FY2024 · Filed Mar 13, 2025

STRO$10.17-4.1%Stored close · as of Nov 10, 2026

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Contents

Statements of Cash Flows

(in thousands)

	Year Ended December 31,
2024 · 2023 · 2022
Operating activities
Net loss		$(227,461)		$(106,793)		$(119,204)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization		7,218		6,816		5,690
Accretion of discount on marketable securities		(9,719)		(9,075)		(364)
Stock-based compensation		24,687		24,908		26,304
Non-cash lease expenses		5,138		3,628		2,598
Realized gain on sale of equity securities		(32,139)		-		(4,074)
Unrealized gain on equity securities		-		(9,917)		(12,130)
Non-cash interest expense on deferred royalty obligation		31,070		12,570		-
Other		766		622		324
Changes in operating assets and liabilities:
Accounts receivable		27,462		(28,956)		5,341
Prepaid expenses and other assets		(11,558)		109		(3,544)
Accounts payable		706		4,812		(1,225)
Accrued compensation		(1,781)		1,544		1,725
Accrued expenses and other liabilities		(7,354)		25,300		6,562
Deferred revenue		7,845		(32,599)		93,648
Change in operating lease liability		(6,420)		(4,585)		1,898
Net cash (used in) provided by operating activities		(191,540)		(111,616)		3,549
Investing activities
Purchases of marketable securities		(461,521)		(460,301)		(216,671)
Maturities of marketable securities		538,925		434,966		127,960
Sales of marketable securities		70,155		25,726		32,799
Proceeds from sale of equity securities, net		74,047		-		28,739
Purchases of equipment and leasehold improvements		(3,098)		(4,315)		(7,858)
Proceeds from exercise of options for Vaxcyte shares		-		-		9
Net cash provided by (used in) investing activities		218,508		(3,924)		(35,022)
Financing activities
Proceeds from sales of common stock, net of issuance costs		71,527		11,971		56,270
Proceeds from sales of common stock to Ipsen Biopharmaceuticals, Inc. (USA)		25,000		-		-
Payments of debt		(4,083)		(12,500)		(9,375)
Proceeds from the sale of future royalties, net of issuance costs		-		136,208		-
Proceeds from exercise of common stock options		271		314		268
Taxes paid related to net share settlement of restricted stock units		(509)		(490)		(463)
Proceeds from employee stock purchase plan		1,848		2,051		1,613
Net cash provided by financing activities		94,054		137,554		48,313
Net increase in cash, cash equivalents and restricted cash		121,022		22,014		16,840
Cash, cash equivalents and restricted cash at beginning of year		70,140		48,126		31,286
Cash, cash equivalents and restricted cash at end of year		$191,162		$70,140		$48,126
Supplemental disclosure of cash flow information
Cash paid for interest		$310		$1,126		$1,869
Income tax paid		$17,520		$379	$	-
Supplemental Disclosures of Non-cash Investing and Financing Information
Purchase of property and equipment included in accounts payable		$673		$214		$280
Value of 167,780 shares of Vaxcyte common stock received under the Vaxcyte Agreement	$	-	$	-		$7,500
Financing component associated with program fees		$6,289		$9,836		$5,079
Premium on common stock issued to Ipsen Biopharma, Inc. (USA)		$429	$	-	$	-

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.