---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-119844"
form_type: "8-K"
ticker: "STRO"
cik: "0001382101"
company_name: "SUTRO BIOPHARMA, INC."
filed_at: "2026-03-23T23:59:59+00:00"
generated_at: "2026-05-15T09:21:14.853053+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "medium"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-119844
- form_type: 8-K
- ticker: STRO
- cik: 0001382101
- company_name: SUTRO BIOPHARMA, INC.
- filed_at: 2026-03-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: medium
- sec_items: 1.02, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1382101/000119312526119844/0001193125-26-119844-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1382101/000119312526119844/stro-20260323.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-119844
- JSON: https://secwatch.observer/filing/0001193125-26-119844.json
- Plain text: https://secwatch.observer/filing/0001193125-26-119844.txt

## Key facts
- Earnings Releases
  SUTRO BIOPHARMA, INC. reported financial results for the full year 2025.
  - Period: the full year 2025
  - Result: reported results
  source text: On March 23, 2026, the Company issued a press release announcing its financial results for the year ended December 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1382101/000119312526119844/0001193125-26-119844-index.htm
- Material Agreements
  SUTRO BIOPHARMA, INC. terminated Sales Agreement with Jefferies LLC (effective 2026-03-23).
  - Action: termination
  - Agreement: atm program
  - Counterparty: Jefferies LLC
  - Effective: 2026-03-23
  source text: On March 23, 2026, the Company and Agent mutually agreed to terminate the Sales Agreement effective immediately as of March 23, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1382101/000119312526119844/0001193125-26-119844-index.htm

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