SUTRO BIOPHARMA Reports Second Quarter Earnings Results for FY2023
August 12, 2023
🌥️Earnings Overview
On August 10 2023, SUTRO BIOPHARMA ($NASDAQ:STRO) reported their second quarter results for FY2023 ending June 30 2023 with total revenue of USD 10.4 million, a decrease of 63.0% from last year’s same quarter. Net income was reported at USD -38.5 million, significantly lower than the prior year’s figure of -26.0 million.
Stock Price
The stock opened at $4.2 and closed at $4.3, representing a 2.8% increase from the prior closing price of 4.2. They also reported that they were continuing to make progress on their clinical trials, with the results from their most recent trial expected to be released in the fourth quarter of this fiscal year. Overall, SUTRO BIOPHARMA had a successful second quarter and their financial outlook for the rest of the year looks promising. They are continuing to invest in research and development as well as expanding their portfolio of drugs, treatments, and medical devices – all of which should lead to continued growth in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sutro Biopharma. More…
| Total Revenues | Net Income | Net Margin |
| 56.87 | -142.66 | -268.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sutro Biopharma. More…
| Operations | Investing | Financing |
| -50.2 | 17.69 | 188.49 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sutro Biopharma. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 464.9 | 310.18 | 2.56 |
Key Ratios Snapshot
Some of the financial key ratios for Sutro Biopharma are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.3% | – | -235.1% |
| FCF Margin | ROE | ROA |
| -100.0% | -49.1% | -18.0% |
Analysis
GoodWhale has conducted an analysis of SUTRO BIOPHARMA’s wellbeing. According to our Star Chart, SUTRO BIOPHARMA is classified as a ‘cheetah’. This type of company is characterized by high revenue or earnings growth but is considered less stable due to lower profitability. Investors looking for potentially high returns with a higher risk-return profile are likely to be interested in SUTRO BIOPHARMA. Our assessment of the company’s health score is 4/10, which indicates that it has an intermediate level of financial health considering its cashflows and debt. This suggests that SUTRO BIOPHARMA is likely to be able to pay off its debt and fund future operations. In terms of assets, SUTRO BIOPHARMA is strong. However, its growth, dividend, and profitability indicators are all rated as medium or weak. It is important for investors to consider these factors when making a decision to invest in SUTRO BIOPHARMA. More…
Peers
The competition between Sutro Biopharma Inc and its competitors is fierce. Each company is vying for a piece of the pie, and each is hoping to be the one to come out on top. There is no clear winner at this point, and it remains to be seen who will come out on top in the end.
– Can Fite Biofarma Ltd ($NYSEAM:CANF)
Can Fite Biofarma Ltd is a pharmaceutical company that focuses on the development of small molecule drugs. The company’s market cap as of 2022 is 22.77M and its ROE is -68.32%. Can Fite’s main products are CF101 and CF102, which are in clinical trials for the treatment of autoimmune and inflammatory diseases.
– Caribou Biosciences Inc ($NASDAQ:CRBU)
Caribou Biosciences Inc is a company that focuses on the development of CRISPR-based technologies. As of 2022, the company has a market capitalization of 594.41M and a return on equity of -15.07%. The company’s focus on the development of CRISPR-based technologies allows it to provide customers with a way to edit genes in a precise and efficient manner.
– Aptevo Therapeutics Inc ($NASDAQ:APVO)
Aptevo Therapeutics Inc. is a biotechnology company that focuses on the discovery, development, and commercialization of novel oncology and hematology therapeutics to address the needs of patients with cancer and blood disorders. The company’s market cap is $15.22 million and its ROE is -159.96%. Aptevo’s lead product candidates are ADAPT-222, a CD33-targeted antibody-drug conjugate (ADC), and ADAPT-232, a CD123-targeted ADC. The company is also developing ADAPT-458, an anti-CD19 monoclonal antibody (mAb), as well as other mAbs and ADCs in various stages of development.
Summary
SUTRO BIOPHARMA reported their second quarter FY2023 earnings on August 10, 2023, showing a decrease in total revenue of 63.0%, from USD 10.4 million to USD -38.5 million, compared to the same quarter in the prior year. This indicates a substantial drop in profits, with investors likely to take a cautious stance on the company’s long-term prospects in light of the sharp decline. Nevertheless, SUTRO BIOPHARMA has taken steps to address cost-cutting strategies and has made investments in research and development to improve their competitive edge. Investors should monitor the company’s progress closely to assess the potential for long-term growth.
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