Sutro Biopharma Q3 revenue $9.7M, cash $167.6M; IND cleared for STRO-004

SUTRO BIOPHARMA, INC.

2025-Q3 EPS reported -$1.71 revenue$90,837,000

FDA cleared IND for STRO-004 (Tissue Factor ADC); first patient dosing expected before year-end.
Cash, cash equivalents and marketable securities were $167.6M at Sept. 30, 2025, down from $388.3M a year earlier.
Revenue was $9.7M (vs $8.5M Q3 2024), primarily from Astellas collaboration.
R&D and G&A expenses totaled $48.6M, down from $76.4M in Q3 2024.
Organizational restructuring expected to extend cash runway into at least mid-2027; restructuring costs estimated at $4.1M–$4.3M.

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