{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-25-067061","form_type":"8-K","ticker":"STRO","cik":"0001382101","company_name":"SUTRO BIOPHARMA, INC.","filed_at":"2025-05-08T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.111953+00:00","generated_at":"2026-05-22T03:42:18.897926+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Sutro Q1 revenue $17.4M, cash $249M; restructures to focus on next-gen ADCs, headcount cut ~50%","bullets":["Revenue of $17.4M vs $13.0M Q1 2024; cash $249M down from $316.9M Dec 2024; runway into early 2027.","Restructuring: headcount reduced ~50%, manufacturing facility decommissioned by year-end 2025; luvelta deprioritized.","Lead candidate STRO-004 (Tissue Factor ADC) IND expected 2H 2025; STRO-006 IND 2026; dual-payload ADC IND 2027.","Astellas collaboration triggers $7.5M milestone from IND-enabling tox study for iADC program.","Restructuring cost $21M in Q1; expects further significant costs in 2025 for wind-down of luvelta trials."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-25-067061","json":"https://secwatch.observer/filing/0000950170-25-067061.json","markdown":"https://secwatch.observer/filing/0000950170-25-067061.md","text":"https://secwatch.observer/filing/0000950170-25-067061.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1382101/000095017025067061/0000950170-25-067061-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1382101/000095017025067061/stro-20250508.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T03:42:18.897926+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}