Sutro Q2 revenue $63.7M; cash $205.1M; STRO-004 IND on track for H2 2025

SUTRO BIOPHARMA, INC.

2025-Q2 EPS reported -$1.04 revenue$81,144,000

Q2 revenue $63.7M, up 148% YoY, driven by Astellas collaboration and Ipsen deferred revenue recognition.
Cash, equivalents and marketable securities $205.1M; cash runway into early 2027.
R&D and G&A expenses $48.7M (down 35% YoY); restructuring costs $18.4M from luvelta deprioritization.
STRO-004 FIH trial on track for H2 2025; STRO-006 clinical in 2026; dual-payload ADC IND filing in 2027.
Astellas milestone triggered $7.5M payment; Ipsen terminates STRO-003; Greg Chow appointed CFO.

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