Sutro Biopharma, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Collaboration and License Agreements and Supply Agreements (Tables)

Collaboration and License Agreements and Supply Agreements (Tables)

3 Months Ended

Mar. 31, 2020

Collaboration And License Agreements And Supply Agreements [Abstract]

In accordance with the collaboration agreements, the Company recognized revenue as follows:

	Three Months Ended
	March 31,
	2020		2019
	(in thousands)
Bristol Myers Squibb Company ("BMS") (1)	$	2,045	$	1,575
Merck Sharp & Dohme Corporation (“Merck”)—related party		2,777		4,635
Merck KGaA, Darmstadt, Germany (operating in the United States and Canada under the name “EMD Serono”)		2,294		2,138
SutroVax—related party		36		281
Total revenue	$	7,152	$	8,629

(1)

In January 2019, BMS announced the entry into a definitive agreement to acquire Celgene and the transaction was completed in November 2019.

Summary of Deferred Revenue Balance

The following table presents the changes in the Company’s deferred revenue balance from collaboration agreements during the three months ended March 31, 2020:

	Three Months Ended
	March 31, 2020
	(in thousands)
Deferred revenue—December 31, 2019	$	35,660
Additions to deferred revenue		5,000
Recognition of revenue in current period		(2,674	)
Deferred revenue—March 31, 2020	$	37,986