Sutro Q1 cash $202.6M; revenue $14.5M; luvelta closed; STRO-004 data mid-2026

SUTRO BIOPHARMA, INC.

2026-Q1 EPS reported -$2.94 revenue$14,523,000

Cash $202.6M as of Mar 31, 2026 (vs $141.4M Dec 2025); $110M stock offering extends runway into Q2 2028.
Q1 revenue $14.5M (down from $17.4M YoY); total R&D+G&A $44.1M (down from $64.9M YoY).
STRO-004 Phase 1 dose-escalation ongoing; initial safety, PK, activity data expected mid-2026.
Astellas collaboration: first TROP2 dual-payload iADC in clinic; $10M milestone received April 2026.
Luvelta program closed; no further investment or business development efforts.

item 2.02item 9.01

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