---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-002316"
form_type: "8-K"
ticker: "STRO"
cik: "0001382101"
company_name: "SUTRO BIOPHARMA, INC."
filed_at: "2022-02-28T23:59:59+00:00"
generated_at: "2026-06-27T03:31:14.409743+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sutro FY2021 revenue $61.9M, operating expenses $160.4M; cash $229.5M; Tasly payment at risk

## Summary
- Cash, equivalents and marketable securities $229.5M at Dec 31, 2021, down from $326.5M; runway into H2 2023.
- Revenue $61.9M (up 45% from $42.7M) from Merck, BMS, EMD Serono collaborations.
- Operating expenses $160.4M (up 41% from $113.8M); R&D $104.4M, G&A $56.0M.
- STRO-002 Phase 1 dose-expansion enrollment completed Nov 2021; registrational study discussions expected mid-2022.
- Tasly seeks to renegotiate STRO-002 Greater China terms; $40M initial payment uncertain; Sutro considering remedies.

## SEC filing metadata
- accession: 0000950170-22-002316
- form_type: 8-K
- ticker: STRO
- cik: 0001382101
- company_name: SUTRO BIOPHARMA, INC.
- filed_at: 2022-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1382101/000095017022002316/0000950170-22-002316-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1382101/000095017022002316/stro-20220228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-002316
- JSON: https://secwatch.observer/filing/0000950170-22-002316.json
- Plain text: https://secwatch.observer/filing/0000950170-22-002316.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.