---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-021973"
form_type: "8-K"
ticker: "STRO"
cik: "0001382101"
company_name: "SUTRO BIOPHARMA, INC."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:50:44.231502+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Sutro Biopharma Q1 2023: Revenue $12.7M, cash $251.5M, runway into H2 2024

## Summary
- Cash and investments $251.5M plus Vaxcyte shares valued at $25.0M; cash runway into second half of 2024.
- Revenue of $12.7M for Q1 2023 up from $5.9M in Q1 2022, primarily from Astellas, Merck, BMS collaborations.
- Total Q1 operating expenses $54.9M ($39.4M R&D, $15.5M G&A) vs $45.0M in Q1 2022.
- Luvelta Phase 1 dose-expansion data to be oral presentation at ASCO 2023; REFRaME registration trial initiation in Q2 2023.
- Leadership changes: Venkatesh Srinivasan promoted to CTOO; Trevor Hallam stepping down as President/CSO effective May 31, 2023.

## SEC filing metadata
- accession: 0000950170-23-021973
- form_type: 8-K
- ticker: STRO
- cik: 0001382101
- company_name: SUTRO BIOPHARMA, INC.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1382101/000095017023021973/0000950170-23-021973-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1382101/000095017023021973/stro-20230515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-021973
- JSON: https://secwatch.observer/filing/0000950170-23-021973.json
- Plain text: https://secwatch.observer/filing/0000950170-23-021973.txt

## Key facts
- Earnings Releases
  SUTRO BIOPHARMA, INC. reported financial results for the quarter ended March 31, 2023.
  - Period: the quarter ended March 31, 2023
  - Result: reported results
  source text: On May 15, 2023, Sutro Biopharma, Inc. (the “ Company ”) issued a press release announcing its financial results for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1382101/000095017023021973/0000950170-23-021973-index.htm

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