Sutro Biopharma cuts workforce ~33%; extends cash runway to mid-2027

SUTRO BIOPHARMA, INC.

Workforce reduction of approximately one-third to prioritize three preclinical ADC programs.
Expected cash runway extended into at least mid-2027 due to restructuring and milestone payments.
Initial clinical data from STRO-004 (Tissue Factor-targeting exatecan ADC) expected in 2026.
Restructuring costs estimated at $4.1-4.3 million, with majority paid in Q4 2025.
Company plans to initiate clinical studies for at least one additional ADC program beyond STRO-004.

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