Sutro Biopharma reports FY2025 revenue $102.5M; cash runway extended into Q2 2028

SUTRO BIOPHARMA, INC.

Cash $141.4M at Dec 31, 2025; $110M underwritten offering extends runway into Q2 2028.
Revenue $102.5M (FY2025) vs $62.0M in 2024; R&D+G&A expenses reduced to $207.4M from $300.5M.
Terminated ATM Sales Agreement with Jefferies effective March 23, 2026.
STRO-004 Phase 1 dosed three cohorts; initial data mid-2026. STRO-227 IND submission on track for 2026.
Astellas TROP2 iADC program entered clinic; $10M milestone expected Q2 2026. Second program triggers $7.5M milestone.

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