---
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"
generated_at: "2026-05-22T03:42:18.897926+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Sutro Q1 revenue $17.4M, cash $249M; restructures to focus on next-gen ADCs, headcount cut ~50%

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-067061
- JSON: https://secwatch.observer/filing/0000950170-25-067061.json
- Plain text: https://secwatch.observer/filing/0000950170-25-067061.txt

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