secwatch.observer — SEC 8-K summary
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Issuer:     SUTRO BIOPHARMA, INC. (STRO)
CIK:        0001382101
Form:       8-K
Filed at:   2026-03-23T23:59:59+00:00
Accession:  0001193125-26-119844
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.02, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1382101/000119312526119844/0001193125-26-119844-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1382101/000119312526119844/stro-20260323.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-119844

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer