{"id":525197,"date":"2021-08-09T07:08:12","date_gmt":"2021-08-09T11:08:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\/"},"modified":"2021-08-09T07:08:12","modified_gmt":"2021-08-09T11:08:12","slug":"sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\/","title":{"rendered":"Sutro Biopharma Reports Second Quarter 2021 Financial Results, Business Highlights and Anticipated Second Half 2021 Milestones"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">&#8211; Additional follow-up data on STRO-002 from the Phase 1 dose-escalation cohort were presented at ASCO June 2021; enrollment for the Phase 1 dose-expansion cohort is ongoing<\/h2>\n<h2 class=\"xn-hedline\">&#8211;  Milestone payment earned from Merck for initiation of IND-enabling study and from EMD Serono for Phase 1 patient enrollment achievement<\/h2>\n<h2 class=\"xn-hedline\">&#8211; Cash, cash equivalents and marketable securities of $283.4 million as of June 30, 2021 and projected cash runway into the second half of 2023<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">SOUTH SAN FRANCISCO, Calif.<\/span>, <span class=\"xn-chron\">Aug. 9, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company focused on the application of precise protein engineering and rational design to create next-generation cancer and autoimmune therapeutics, today reported its financial results for the quarter ended <span class=\"xn-chron\">June 30, 2021<\/span>, its recent business highlights, and provided a preview of anticipated selected milestones in the second half of 2021.<\/p>\n<p>&#8220;Additional follow-up data from our STRO-002 dose-escalation data were presented at ASCO and these data continue to demonstrate meaningful clinical benefit for women with advanced ovarian cancer. Enrollment in the dose-expansion cohort is ongoing and we look forward to providing an update later this year,&#8221; said <span class=\"xn-person\">Bill Newell<\/span>, Sutro&#8217;s Chief Executive Officer. &#8220;Our ADC collaborations with\u00a0Bristol Myers Squibb\u00a0and EMD Serono continue to make progress in the clinic. We are also encouraged by the strength of the Merck cytokine collaboration, with the first product candidate in IND-enabling studies and additional potential product candidates under development. These high-value partnerships\u00a0add\u00a0to the breadth of Sutro&#8217;s\u00a0accomplishments\u00a0in developing novel therapeutics to expand much-needed treatment options for cancer patients.&#8221;<\/p>\n<p>\n        <b>Recent Business Highlights and Anticipated Second Half 2021 Milestones <\/b>\n      <\/p>\n<p>\n        <b>STRO-002,\u00a0FolR\u03b1-Targeting ADC:\u00a0<\/b><br \/>\n        <i>Enrollment continues in\u00a0the Phase 1 dose-expansion cohort for\u00a0patients with advanced ovarian cancer.<\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>The dose-escalation cohort of the Phase\u00a01 trial completed enrollment as of <span class=\"xn-chron\">August 31, 2020<\/span>, and updated data were reported in <span class=\"xn-chron\">May 2021<\/span> and presented as a poster at the American Society of Clinical Oncology (ASCO) Virtual Annual Meeting in <span class=\"xn-chron\">June 2021<\/span>. <\/li>\n<li>The enrollment for the dose-expansion cohort of the Phase 1 trial is ongoing, with additional sites activated in the US and a CTA approved to initiate the study in <span class=\"xn-location\">Spain<\/span>. <\/li>\n<li>Sutro is expected to report initial data for the dose-expansion cohort in the second half of 2021; the data are expected to inform regulatory interactions and registration strategy as well as enable the identification of the broadest patient population that may benefit from STRO\u2013002. <\/li>\n<\/ul>\n<p>\n        <b>STRO-001, CD74-Targeting ADC: <\/b><br \/>\n        <i>Enrollment is ongoing in the Phase 1 dose-escalation for patients with B-cell malignancies, including patients with lymphoma and multiple myeloma.<\/i>\n      <\/p>\n<p>\n        <b>STRO-003: <\/b><br \/>\n        <i>Preclinical development is underway and a product candidate is expected to be unveiled in the second half of 2021.<\/i>\n      <\/p>\n<p>\n        <b>Merck Collaboration:\u00a0<\/b><br \/>\n        <i>First product candidate\u00a0is in IND-enabling studies. <\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>In <span class=\"xn-chron\">April 2021<\/span>, Merck initiated IND-enabling toxicology studies for the first program under the <span class=\"xn-chron\">July 2018<\/span> cytokine derivatives collaboration, for which Sutro earned a <span class=\"xn-money\">$15 million<\/span> milestone payment. <\/li>\n<li>Additionally, research on the second cytokine derivative program is continuing. <\/li>\n<\/ul>\n<p>\n        <b>BMS Collaboration<\/b>: <i>Phase 1 trial for CC-99712, BCMA-targeting ADC for patients with multiple myeloma, is ongoing.<\/i><\/p>\n<p>\n        <b>EMD Serono Collaboration<\/b>: <i>Phase 1 trial for M1231, a first-in-class bispecific ADC targeting MUC1\u2013EGFR for development in solid tumors, is ongoing.<\/i><\/p>\n<ul type=\"disc\">\n<li>Merck KGaA, EMD Serono (EMD Serono) began enrolling patients in the first quarter of 2021 in the dose-escalation portion of a Phase 1 trial of M1231 for treatment of metastatic solid tumors, including non-small cell lung cancer (NSCLC) and esophageal squamous cell carcinoma. <\/li>\n<li>Sutro earned a milestone payment based on a patient enrollment achievement in the M1231 in the second quarter of 2021. <\/li>\n<\/ul>\n<p>\n        <b>Vaxcyte Relationship: <\/b><br \/>\n        <i>Partnership with Vaxcyte is exploring the potential of conjugated vaccines utilizing the power of Sutro&#8217;s cell-free technology.<\/i>\n      <\/p>\n<p>\n        <b>Leadership Updates<\/b>: <i>Sutro continues to strengthen leadership through the addition of a Chief Commercial Officer, promotion of a Chief Portfolio Strategy &amp; Alliance Officer, and additions to the Scientific Advisory Board.<\/i><\/p>\n<ul type=\"disc\">\n<li>\n          <span class=\"xn-person\">Jane Chung<\/span> joins the company as the Chief Commercial Officer and will provide patient, provider, thought leader and reimbursement insights as Sutro&#8217;s clinical programs advance. Ms. Chung has more than 20 years of pharmaceutical and biotechnology experience, having most recently served as President of AstraZeneca Canada, as well as previous roles at Onyx Pharmaceuticals and Genentech, and is a registered pharmacist. <\/li>\n<li>\n          <span class=\"xn-person\">Nicki Vasquez<\/span>, Ph.D., has been promoted to Chief Portfolio Strategy &amp; Alliance Officer and will provide continued support of portfolio strategy development, execution, and alliance leadership. Dr. Vasquez has led Alliance and Portfolio Management since 2015. Prior to Sutro, she was VP of Program &amp; Portfolio Management at StemCells, Inc. and was previously at Elan Pharmaceuticals. Dr. Vasquez obtained her doctoral degree in immunology from the <span class=\"xn-org\">University of California, San Diego<\/span>, and received her post-doctoral training at Genentech. <\/li>\n<li>\n          <span class=\"xn-person\">Robert Abraham<\/span>, Ph.D., joined the Sutro Scientific Advisory Board in <span class=\"xn-chron\">July 2021<\/span>. Dr. Abraham is currently Chief Scientific Officer at Vividion Therapeutics and also an Adjunct Professor in Pharmacology at the <span class=\"xn-org\">University of California, San Diego<\/span>, and is at the Sanford Burnham Prebys Medical Discovery Institute. Previously, he was Senior Vice President and Group Leader of the Oncology R&amp;D Group at Pfizer. <\/li>\n<li>\n          <span class=\"xn-person\">Stanley R. Frankel<\/span>, M.D., joined the Sutro Scientific Advisory Board in <span class=\"xn-chron\">June 2021<\/span>. Dr. Frankel is currently Chief Medical Officer at Cytovia Therapeutics and is also an Adjunct Associate Professor of Medicine at the Vagelos <span class=\"xn-org\">College of Physicians and Surgeons at Columbia University<\/span>, <span class=\"xn-location\">New York<\/span>.<\/li>\n<\/ul>\n<p>\n        <b>Second Quarter 2021 Financial Highlights <\/b>\n      <\/p>\n<p>\n        <i>Cash, Cash Equivalents and Marketable Securities <\/i>\n      <\/p>\n<p>As of\u00a0June 30, 2021, Sutro had cash, cash equivalents and marketable securities of\u00a0$283.4 million, as compared to <span class=\"xn-money\">$326.5 million<\/span> as of <span class=\"xn-chron\">December 31, 2020<\/span>, with projected runway into the second half of 2023, based on current business plans and assumptions. This does not include the value associated with Sutro&#8217;s holdings of approximately 1.6 million shares of Vaxcyte common stock. As of <span class=\"xn-chron\">June 30, 2021<\/span>, the fair value of the Vaxcyte common stock held by Sutro was <span class=\"xn-money\">$35.3 million<\/span>. <\/p>\n<p>\n        <i>Unrealized Gain (Loss) from Decrease in Value of Vaxcyte Common Stock<\/i>\n      <\/p>\n<p>The non-operating, unrealized gain of <span class=\"xn-money\">$4.3 million<\/span> and unrealized loss of <span class=\"xn-money\">$6.4 million<\/span> for the three and six months ended <span class=\"xn-chron\">June 30, 2021<\/span> were due to the increase since <span class=\"xn-chron\">March 31, 2021<\/span> and the decrease since <span class=\"xn-chron\">December 31, 2020<\/span>, respectively, in the estimated fair value of Sutro&#8217;s holdings of Vaxcyte common stock. Vaxcyte common stock held by Sutro will be remeasured at fair value based on the closing price of Vaxcyte&#8217;s common stock on the last trading day of each reporting period, with any non-operating, unrealized gains and losses recorded in Sutro&#8217;s statements of operations.<\/p>\n<p>\n        <i>Revenue<\/i>\n      <\/p>\n<p>Revenue was\u00a0$28.0 million\u00a0and <span class=\"xn-money\">$42.7 million<\/span> for the three and six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, respectively, compared to <span class=\"xn-money\">$9.5 million<\/span> and <span class=\"xn-money\">$16.6 million<\/span> for the same periods in 2020, related principally to the Merck, BMS, and EMD Serono collaborations. Future collaboration revenue from Merck, BMS, and EMD Serono, and from any future collaboration partners, will fluctuate as a result of the amount and timing of revenue recognition of upfront, milestones, and other collaboration agreement payments.\u00a0 <\/p>\n<p>\n        <i>Operating Expenses<\/i>\n      <\/p>\n<p>Total operating expenses for the three and six months ended <span class=\"xn-chron\">June 30, 2021<\/span> were <span class=\"xn-money\">$37.9 million<\/span> and <span class=\"xn-money\">$71.5 million<\/span>, respectively, compared to <span class=\"xn-money\">$25.9 million<\/span> and <span class=\"xn-money\">$52.2 million<\/span> for the same periods in 2020, including non-cash stock-based compensation of <span class=\"xn-money\">$5.9 million<\/span> and <span class=\"xn-money\">$3.0 million<\/span>, and depreciation and amortization expense of <span class=\"xn-money\">$1.1 million<\/span> and <span class=\"xn-money\">$1.1 million<\/span>, in the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> and 2020, respectively. Total operating expenses for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> were comprised of research and development expenses of <span class=\"xn-money\">$25.3 million<\/span> and general and administrative expenses of <span class=\"xn-money\">$12.5 million<\/span>, which are expected to increase in 2021 as Sutro&#8217;s internal product candidates advance in clinical development and additional general and administrative expenses are incurred as a public company.<\/p>\n<p>\n        <b>About Sutro Biopharma <\/b>\n      <\/p>\n<p>Sutro Biopharma, Inc., located in <span class=\"xn-location\">South San Francisco<\/span>, is a clinical-stage drug discovery, development and manufacturing company. Using precise protein engineering and rational design, Sutro is advancing next-generation oncology therapeutics.<\/p>\n<p>Sutro&#8217;s proprietary and integrated cell-free protein synthesis platform XpressCF<sup>\u00ae<\/sup> and site-specific conjugation platform XpressCF+\u2122 led to the discovery of STRO-001 and STRO-002, Sutro&#8217;s first two internally-developed ADCs. STRO-001 is a CD74-targeting ADC currently being investigated in a Phase 1 clinical trial of patients with advanced B-cell malignancies, including multiple myeloma and non-Hodgkin lymphoma. STRO-001 was granted Orphan Drug Designation by the FDA for multiple myeloma in <span class=\"xn-chron\">October 2018<\/span>. STRO-002 is a folate receptor alpha (FolR\u03b1)-targeting ADC, currently being investigated in a Phase 1 clinical trial of patients with ovarian and endometrial cancers. A third product candidate, CC-99712 (BCMA-targeting ADC), which is part of Sutro&#8217;s collaboration with Bristol Myers Squibb (formerly Celgene Corporation), is enrolling patients for its Phase 1 clinical trial of patients with multiple myeloma and has received Orphan Drug Designation from the FDA for multiple myeloma. A fourth product candidate, M1231, (MUC1-EGFR, first-in-class bispecific ADC), which is part of Sutro&#8217;s collaboration with Merck KGaA, Darmstadt, <span class=\"xn-location\">Germany<\/span> is enrolling patients for its Phase 1 clinical trial of patients with metastatic solid tumors, non-small cell lung cancer (NSCLC) and esophageal squamous cell carcinoma.\u00a0 The four product candidates above being evaluated in clinical trials resulted from Sutro&#8217;s XpressCF<sup>\u00ae<\/sup> and XpressCF+\u2122 technology platforms. Bristol <span class=\"xn-person\">Myers Squibb<\/span> and Merck KGaA, Darmstadt, <span class=\"xn-location\">Germany<\/span> have worldwide development and commercialization rights for CC-99712 and M1231, respectively, for which Sutro is entitled to milestone or contingent payments and tiered royalties.<\/p>\n<p>Sutro is dedicated to transforming the lives of cancer patients by creating medicines with improved therapeutic profiles for areas of unmet need. To date, Sutro&#8217;s platform has led to cytokine-based immuno-oncology therapies, ADCs, vaccines and bispecific antibodies directed at precedented targets in clinical indications where the current standard of care is suboptimal.<\/p>\n<p>The platform allows it to accelerate discovery and development of potential first-in-class and best-in-class molecules through rapid and systematic evaluation of protein structure-activity relationships to create optimized homogeneous product candidates.<\/p>\n<p>In addition to developing its own oncology pipeline, Sutro is collaborating with select pharmaceutical and biotech companies to discover and develop novel, next-generation therapeutics. As the pace of clinical development accelerates, Sutro and its partners are developing therapeutics designed to more efficiently kill tumors without harming healthy cells.<\/p>\n<p>Follow Sutro on Twitter, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3252879-1&amp;h=1188598880&amp;u=https%3A%2F%2Fwww.twitter.com%2FSutroBio&amp;a=%40Sutrobio\" rel=\"nofollow noopener\">@Sutrobio<\/a>, and at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3252879-1&amp;h=537827340&amp;u=http%3A%2F%2Fwww.sutrobio.com%2F&amp;a=www.sutrobio.com\" rel=\"nofollow noopener\">www.sutrobio.com<\/a>\u00a0to learn more about our passion for changing the future of oncology.<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>This press release contains forward-looking statements within the meaning of the &#8220;safe harbor&#8221; provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, anticipated preclinical and clinical development activities, timing of announcements of clinical results, potential benefits of the company&#8217;s product candidates and platform, potential future milestone and royalty payments, and potential market opportunities for the company&#8217;s product candidates. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, the company cannot guarantee future events, results, actions, levels of activity, performance or achievements, and the timing and results of biotechnology development and potential regulatory approval is inherently uncertain. Forward-looking statements are subject to risks and uncertainties that may cause the company&#8217;s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the company&#8217;s ability to advance its product candidates, the receipt and timing of potential regulatory designations, approvals and commercialization of product candidates, the impact of the COVID-19 pandemic on the Company&#8217;s business, clinical trial sites, supply chain and manufacturing facilities, the Company&#8217;s ability to maintain and recognize the benefits of certain designations received by product candidates, the timing and results of preclinical and clinical trials, the Company&#8217;s ability to fund development activities and achieve development goals, the Company&#8217;s ability to protect intellectual property, the value of the Company&#8217;s holdings of Vaxcyte common stock, and the Company&#8217;s commercial collaborations with third parties and other risks and uncertainties described under the heading &#8220;Risk Factors&#8221; in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.<\/p>\n<p>\n        <b>Investor Contact<br \/><\/b><br \/>\n        <span class=\"xn-person\">Annie J. Chang<\/span><br \/>\n        <br \/>Sutro Biopharma<br \/>(650) 801-5728<br \/><a target=\"_blank\" href=\"mailto:ajchang@sutrobio.com\" rel=\"nofollow noopener\">ajchang@sutrobio.com<\/a>\u00a0\u00a0<\/p>\n<p>\n        <b>Media Contact<br \/><\/b><br \/>\n        <span class=\"xn-person\">Maggie Beller<\/span><br \/>\n        <br \/>Russo Partners<br \/>(646) 942-5631<br \/><a target=\"_blank\" href=\"mailto:Maggie.beller@russopartnersllc.com\" rel=\"nofollow noopener\">Maggie.beller@russopartnersllc.com<\/a>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"16\" class=\"prngen3\">\n<p class=\"prnews_p\">\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sutro Biopharma, Inc. <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Selected Statements of Operations Financial Data<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(In thousands, except share and per share amounts)<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\u00a0<\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"16\" class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"8\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"6\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Six Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"8\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>June 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"6\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>June 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prnsbts prnsbr1 prnvab prnsbbs prntac prnpl6 prnsbl1 prnpr8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntac prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,049<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,469<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">42,709<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,621<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Research and development<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,309<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,243<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47,871<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">34,862<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">General and administrative<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,545<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,643<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23,652<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,356<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,854<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,886<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71,523<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52,218<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss from operations<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,805)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(16,417)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(28,814)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(35,597)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">175<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">384<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">372<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,025<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Unrealized gain (loss) on equity securities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,325<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">48,860<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,364)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">48,860<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest and other expense, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(847)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,955)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,705)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,011)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net (loss) income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,152)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,872<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(36,511)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,277<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net (loss) income per share, basic<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.13)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.00<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.79)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.39<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net (loss) income per share, diluted<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.13)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.94<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.79)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.36<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"9\" class=\"prngen3\">\n<p class=\"prnews_p\">\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sutro Biopharma, Inc. <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Selected Balance Sheet Financial Data<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Unaudited)<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(In thousands)<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>June 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2021 <sup>(1)<\/sup><\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020 <sup>(2)<\/sup><\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Cash, cash equivalents and marketable securities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">283,430<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">326,493<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Investment in equity securities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,280<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41,644<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accounts receivable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,160<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,559<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Property and equipment, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,669<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,935<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,249<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,480<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">359,788<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">394,111<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Liabilities and Stockholders&#8217; Equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accounts payable and other liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,148<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,815<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Deferred revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,321<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,703<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Debt<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24,819<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24,545<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52,288<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">62,063<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total stockholders&#8217; equity<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">307,500<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">332,048<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Liabilities and Stockholders&#8217; Equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">359,788<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">394,111<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTabled1cc\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvat prnsbtb0 prntar prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td class=\"prnsbtb0 prnrbrb0 prnvat prnsbtb0 prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The condensed balance sheet as of June 30, 2021 was derived from the unaudited financial statements included in the Company&#8217;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the Securities and Exchange Commission on August 9, 2021.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)\u00a0<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The condensed balance sheet as of December 31, 2020 was derived from the audited financial statements included in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on March 18, 2021.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY68415&amp;sd=2021-08-09\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones-301350738.html\">https:\/\/www.prnewswire.com\/news-releases\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones-301350738.html<\/a><\/p>\n<p>SOURCE  Sutro Biopharma<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY68415&amp;Transmission_Id=202108090705PR_NEWS_USPR_____NY68415&amp;DateId=20210809\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8211; Additional follow-up data on STRO-002 from the Phase 1 dose-escalation cohort were presented at ASCO June 2021; enrollment for the Phase 1 dose-expansion cohort is ongoing &#8211; Milestone payment earned from Merck for initiation of IND-enabling study and from EMD Serono for Phase 1 patient enrollment achievement &#8211; Cash, cash equivalents and marketable securities of $283.4 million as of June 30, 2021 and projected cash runway into the second half of 2023 PR Newswire SOUTH SAN FRANCISCO, Calif., Aug. 9, 2021 \/PRNewswire\/ &#8212;\u00a0Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company focused on the application of precise protein engineering and rational design to create next-generation cancer and autoimmune therapeutics, today reported its financial results for &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sutro Biopharma Reports Second Quarter 2021 Financial Results, Business Highlights and Anticipated Second Half 2021 Milestones&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-525197","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sutro Biopharma Reports Second Quarter 2021 Financial Results, Business Highlights and Anticipated Second Half 2021 Milestones - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sutro Biopharma Reports Second Quarter 2021 Financial Results, Business Highlights and Anticipated Second Half 2021 Milestones - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"&#8211; Additional follow-up data on STRO-002 from the Phase 1 dose-escalation cohort were presented at ASCO June 2021; enrollment for the Phase 1 dose-expansion cohort is ongoing &#8211; Milestone payment earned from Merck for initiation of IND-enabling study and from EMD Serono for Phase 1 patient enrollment achievement &#8211; Cash, cash equivalents and marketable securities of $283.4 million as of June 30, 2021 and projected cash runway into the second half of 2023 PR Newswire SOUTH SAN FRANCISCO, Calif., Aug. 9, 2021 \/PRNewswire\/ &#8212;\u00a0Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company focused on the application of precise protein engineering and rational design to create next-generation cancer and autoimmune therapeutics, today reported its financial results for &hellip; Continue reading &quot;Sutro Biopharma Reports Second Quarter 2021 Financial Results, Business Highlights and Anticipated Second Half 2021 Milestones&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-09T11:08:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY68415&amp;sd=2021-08-09\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Sutro Biopharma Reports Second Quarter 2021 Financial Results, Business Highlights and Anticipated Second Half 2021 Milestones\",\"datePublished\":\"2021-08-09T11:08:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\\\/\"},\"wordCount\":2201,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=NY68415&amp;sd=2021-08-09\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sutro-biopharma-reports-second-quarter-2021-financial-results-business-highlights-and-anticipated-second-half-2021-milestones\\\/\",\"name\":\"Sutro Biopharma Reports Second Quarter 2021 Financial Results, Business Highlights and Anticipated Second Half 2021 Milestones - 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