SUTRO BIOPHARMA, INC.

Listed Company

STROCIK 0001382101NasdaqNon-AcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)FY ends Dec 31

Period

FY 2025

Revenue

$102.48M

Net Income

$-191.09M

Total Assets

$173.83M

Equity

$-132.45M

Shares Out

16.57M

Op. Cash Flow

$-177.23M

STRO$23.52+152.03% · past yearDBEQ Basic

Daily closing prices

Business

Sutro Biopharma is a clinical-stage oncology company developing antibody-drug conjugates (ADCs) and next-generation ADC modalities enabled by its proprietary XpressCF® cell-free protein synthesis platform and XpressCF+® site-specific conjugation platform. The company's lead product candidate, STRO-004, is a tissue-factor-targeting ADC in Phase 1 trials for solid tumors, with preclinical candidates STRO-006 and STRO-227 in development. Sutro monetizes its platform through multitarget collaborations with companies including Astellas, Merck, BMS, and EMD Serono, and holds a licensing relationship with Vaxcyte for vaccine development.

Summary from 10-K filed 2026-03-23

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	102	62	154	68	62
Research and development	166	252	180	137	104
General and administrative	41	48	63	60	56
Restructuring and related costs	53	—	—	—	—
Total operating expenses	261	300	243	197	160
Loss from operations	−158	−238	−89	−129	−99
Interest income	9	19	15	3	577,000
Non-cash interest expense related to the sale of future royalties	−38	−31	−13	—	—
Interest and other income (expense), net	−4	26	−11	−3	−3
Loss before provision for income taxes	−191	−225	−89	−117	−106
Provision for income taxes	−100,000	2	18	3	—
Net loss	−191	−227	−107	−119	−106
Net loss per share, basic	−22.49	−29.4	−1.78	−2.35	−2.29
Net loss per share, diluted	−22.49	−29.4	−1.78	−2.35	−2.29
Weighted-average shares used in computing basic net loss per share	8	8	60	51	46
Weighted-average shares used in computing diluted net loss per share	8	8	60	51	46

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	58	190	69	47	30
Marketable securities	83	127	264	255	130
Accounts receivable	4	9	36	7	12
Prepaid expenses and other current assets	6	18	10	12	8
Total current assets	151	343	422	353	219
Property and equipment, net	11	18	22	25	23
Operating lease right-of-use assets	11	18	23	26	29
Other non-current assets	495,000	7	4	2	2
Restricted cash	900,000	900,000	900,000	872,000	872,000
Total assets	174	387	471	407	341
Accounts payable	8	10	9	5	6
Accrued compensation	15	13	15	13	11
Deferred revenue-current	11	70	21	17	5
Operating lease liability - current	8	7	6	5	1
Accrued expenses and other current liabilities	35	31	38	15	8
Total current liabilities	75	132	94	67	42
Deferred revenue, non-current	2	13	53	90	—
Operating lease liability - non-current	8	16	23	30	31
Deferred royalty obligation related to the sale of future royalties	220	181	149	—	—
Other non-current liabilities	2	2	2	119,000	146,000
Total liabilities	306	343	321	190	89
Commitments and contingencies (Note 7)	—	—	—	—	—
Preferred stock, $0.001 par value - 10,000,000 shares authorized as of December 31, 2025 and December 31,2024; no shares issued and outstanding as of December 31, 2025 and December 31,2024	—	—	—	—	—
Common stock, $0.001 par value - 300,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 8,584,309 and 8,306,398 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	9,000	8,000	61,000	58,000	46,000
Additional paid-in-capital	845	831	709	670	586
Accumulated other comprehensive income	19,000	39,000	21,000	−618,000	−314,000
Accumulated deficit	−978	−787	−559	−453	−333
Total stockholders' equity (deficit)	−132	45	150	217	253
Total Liabilities and Stockholders' Equity (Deficit)	174	387	471	407	341

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−191	−227	−107	−119	−106
Depreciation and amortization	7	7	7	6	5
Accretion of discount on marketable securities	−3	−10	−9	−364,000	3
Stock-based compensation	14	25	25	26	23
Non-cash lease expenses	6	5	4	3	5
Impairment charges	2	0	—	—	—
Realized gain on sale of equity securities	0	−32	0	−4	—
Unrealized gain on equity securities	0	0	—	—	—
Non-cash interest expense on deferred royalty obligation	38	31	13	0	—
Other	571,000	766,000	622,000	324,000	1
Accounts receivable	5	27	−29	5	−7
Prepaid expenses and other assets	19	−12	109,000	−4	−4
Accounts payable	−2	706,000	5	−1	3
Accrued compensation	2	−2	2	2	3
Accrued expenses and other liabilities	4	−7	25	7	6
Deferred revenue	−70	8	−33	94	−15
Change in operating lease liability	−7	−6	−5	2	−3
Net cash used in operating activities	−177	−192	−112	4	−82
Purchases of marketable securities	−265	−462	−460	−217	−249
Maturities of marketable securities	254	539	435	128	148
Sales of marketable securities	58	70	26	33	18
Proceeds from sale of equity securities, net	0	74	0	29	—
Purchases of equipment and leasehold improvements	−2	−3	−4	−8	−15
Net cash provided by (used in) investing activities	45	219	−4	−35	−97
Proceeds from sales of common stock, net of issuance costs	0	72	12	56	—
Proceeds from sales of common stock to Ipsen Biopharmaceuticals, Inc. (USA)	0	25	0	0	—
Payments of debt	0	−4	−13	−9	—
Proceeds from exercise of common stock options	4,000	271,000	314,000	268,000	2
Taxes paid related to net share settlement of restricted stock units	−332,000	−509,000	−490,000	−463,000	−987,000
Proceeds from employee stock purchase plan	372,000	2	2	2	2
Net cash provided by financing activities	44,000	94	138	48	3
Net increase in cash, cash equivalents and restricted cash	−132	121	22	17	−176
Cash paid for interest	0	310,000	1	2	2
Income tax paid	−75,000	−18	379,000	0	103,000
Purchase of property and equipment included in accounts payable	11,000	673,000	214,000	280,000	370,000
Financing Component Associated with Program Fees	3	6	10	5	610,000
Premium on common stock issued to Ipsen Biopharma, Inc. (USA)	—	429,000	0	0	—

Filings

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Frequently asked questions

What is SUTRO BIOPHARMA, INC.'s CIK number?

SUTRO BIOPHARMA, INC.'s SEC CIK number is 0001382101 (1382101). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find SUTRO BIOPHARMA, INC.'s SEC filings?

All of SUTRO BIOPHARMA, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did SUTRO BIOPHARMA, INC. last report earnings?

SUTRO BIOPHARMA, INC. (STRO) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-224065). This is SUTRO BIOPHARMA, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is SUTRO BIOPHARMA, INC.'s most recent earnings 8-K?

SUTRO BIOPHARMA, INC.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001193125-26-224065. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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