Highest-materiality recent filing
Sutro Q1 cash $202.6M; revenue $14.5M; luvelta closed; STRO-004 data mid-2026
Cash $202.6M as of Mar 31, 2026 (vs $141.4M Dec 2025); $110M stock offering extends runway into Q2 2028.
Sutro Biopharma reports FY2025 revenue $102.5M; cash runway extended into Q2 2028
Cash $141.4M at Dec 31, 2025; $110M underwritten offering extends runway into Q2 2028.
Sutro Biopharma raises $110M in underwritten public offering of 7.87M shares at $13.98/share
Offering of 7,868,383 shares at $13.98 per share; gross proceeds approximately $110.0 million.
Sutro Biopharma regains Nasdaq minimum bid price compliance after prior deficiency
Received Nasdaq notice on Dec 17, 2025 confirming compliance with Listing Rule 5450(a)(1) after 10 consecutive business days with closing bid at or above $1.00.
Sutro Biopharma announces 1-for-10 reverse stock split effective Dec 3 to regain Nasdaq compliance
Reverse stock split at 1-for-10, effective 12:01 a.m. ET on December 3, 2025.
Sutro Biopharma Q3 revenue $9.7M, cash $167.6M; IND cleared for STRO-004
FDA cleared IND for STRO-004 (Tissue Factor ADC); first patient dosing expected before year-end.
Sutro Biopharma cuts workforce ~33%; extends cash runway to mid-2027
Workforce reduction of approximately one-third to prioritize three preclinical ADC programs.
Sutro Q2 revenue $63.7M; cash $205.1M; STRO-004 IND on track for H2 2025
Q2 revenue $63.7M, up 148% YoY, driven by Astellas collaboration and Ipsen deferred revenue recognition.
Sutro Biopharma receives Nasdaq minimum bid price deficiency notice; has until Dec 17, 2025 to cure
Nasdaq notified Sutro on June 20, 2025 of non-compliance with $1.00 minimum bid price rule.
Sutro Biopharma stockholders approve reverse stock split at 1:5 to 1:25 ratio
Reverse stock split authorized at ratio between 1:5 and 1:25, board to set exact ratio.
Sutro Q1 revenue $17.4M, cash $249M; restructures to focus on next-gen ADCs, headcount cut ~50%
Revenue of $17.4M vs $13.0M Q1 2024; cash $249M down from $316.9M Dec 2024; runway into early 2027.
Jane Chung appointed CEO, replaces Bill Newell effective March 13, 2025; CFO and CMO also transitioning.
Sutro selects luvelta dose for registrational ovarian cancer trial; 32% ORR in Part 1
Selected dose: 5.2 mg/kg with prophylactic pegfilgrastim for 2 cycles then 4.3 mg/kg for subsequent cycles.
Sutro reports Q2 revenue $25.7M, cash $426M; luvelta trials advancing
Revenue $25.7M (up from $10.4M YoY) driven by Astellas collaboration and Vaxcyte agreement.
Sutro Biopharma Q1 2024: Revenue $13.0M, Cash $267.6M; IND cleared for NSCLC trial
Q1 2024 revenue of $13.0M (vs $12.7M YoY); total operating expenses $69.6M ($56.9M R&D, $12.7M G&A).
Sutro licenses STRO-003 ADC to Ipsen for up to $900M; $50M upfront plus equity
Exclusive global license to Sutro's STRO-003 (ROR1-targeting ADC) to Ipsen; total potential $900M.
Sutro Biopharma launches $75M common stock offering at $5.18/share
14,478,764 shares offered at $5.18/share; gross proceeds ~$75M.
Sutro Biopharma reports FY2023 revenue of $153.7M and $333.7M cash, runway into H2 2025
Revenue $153.7M in FY2023 vs $67.8M in FY2022, driven by Vaxcyte option exercise and collaborations.
Sutro Biopharma adds $100M to at-the-market equity program via new shelf registration
Filed prospectus supplement to 2023 Form S-3 shelf, increasing shares available under existing Sales Agreement with Jefferies by $100M.
Sutro Biopharma reports ~$333M cash, luvelta data in ovarian cancer, AML, NSCLC trials planned
Preliminary cash, equivalents, marketable securities ~$333M as of Dec 31, 2023; 0.7M shares of Vaxcyte stock valued ~$42M, funding into 2H2025.
Vaxcyte exercises option, pays Sutro $50M; manufacturing rights agreement effective
Vaxcyte exercised option on Nov 21, 2023, paying $50M cash as first installment.
Sutro Biopharma Q3 2023: Revenue $16.9M, cash runway into H1 2025; luvelta data and new CSO
Cash and investments $321.1M plus Vaxcyte shares valued at $34.0M projecting runway into first half 2025.
Sutro Biopharma and Vaxcyte finalize agreement triggering $5M payment; license amended
Vaxcyte agrees to pay Sutro $5.0M upon mutual agreement on Form Definitive Agreement, reached Sept 28, 2023.
Sutro Q2 2023: cash $358M, revenue $10.4M, initiates pivotal luvelta trial, Blackstone deal
Cash, equivalents and marketable securities $358.3M; Vaxcyte shares valued at $33.3M; runway into H1 2025.
Sutro Biopharma sells 4% royalty on Vaxcyte products to Blackstone for $140M upfront
Sold 4% royalty interest in Vaxcyte's future net sales (including VAX-24) to Blackstone Life Sciences.
BMS terminates collaboration on CC-99712; Sutro regains full rights
BMS notified Sutro on June 9, 2023 of termination of Amended Collaboration and License Agreement for CC-99712.
Sutro Biopharma Q1 2023: Revenue $12.7M, cash $251.5M, runway into H2 2024
Cash and investments $251.5M plus Vaxcyte shares valued at $25.0M; cash runway into second half of 2024.
Cash and investments of $302.3M plus Vaxcyte stock valued at $32.0M provide cash runway into H2 2024.
STRO-002 (luvelta) Phase 1 dose-expansion: 43.8% ORR, median DOR 5.4 mo, median PFS 6.6 mo at 5.2 mg/kg in FolRα-selected (TPS>25%) patients.
Sutro grants Vaxcyte option to manufacture and source extract for vaccines; receives $22.5M upfront
Upfront payment of $22.5M: $7.5M in Vaxcyte common stock, $15M in cash.
Sutro BioPharma Q3 revenue $25.1M, cash $287.3M; STRO-002 data at ASH, Phase 2 design by year end
Revenue $25.1M (up from $8.5M YoY); total operating expenses $46.4M.
Sutro Biopharma CMO Arturo Molina resigns; effective Nov 4, 2022
Dr. Arturo Molina notified Sutro on Oct 18, 2022 of his resignation as Chief Medical Officer.
Sutro Biopharma Q2 revenue $28.1M; Astellas collaboration adds $90M cash, cash runway into H1 2024
Q2 revenue $28.1M (flat YoY); operating expenses $47.5M vs $37.9M in Q2 2021.
Sutro Biopharma enters $90M upfront license deal with Astellas for ADCs up to 3 targets
Astellas pays $90M upfront; Sutro eligible for up to $422.5M in milestones plus tiered royalties (low double-digit to mid-teen %).
Sutro Biopharma Q1 2022 revenue $5.9M; cash $192.1M; STRO-002 data expected H2 2022
Revenue $5.9M vs $14.7M YoY; operating expenses $45.0M vs $33.7M; net loss not stated directly.
Sutro Biopharma amends Tasly license for STRO-002; gets $25M initial, up to $350M in milestones
Amendment to Tasly license for STRO-002 in Greater China (China, HK, Macau, Taiwan).
Sutro FY2021 revenue $61.9M, operating expenses $160.4M; cash $229.5M; Tasly payment at risk
Cash, equivalents and marketable securities $229.5M at Dec 31, 2021, down from $326.5M; runway into H2 2023.
On June 2, 2025 Sutro Biopharma, Inc. (the “Company”) announced the appointment of Gregory K. Chow as its Chief Financial Officer, principal financial officer and principal accounting officer, effective as of June 2, 2025.
John Freund, M.D., a member of the Board of Directors (the “Board”) of Sutro Biopharma, Inc., a Delaware corporation (the “Company”) since 2014, informed the Board of his decision to not stand for re-election to the Board.
resigned as a director of the Board, effective as of the Newell Separation Date
Mr. Newell ceased his role as the Company’s President and CEO, effective March 13, 2025
The Board also appointed Ms. Chung as a Class II Director of the Company, effective as of the Newell Separation Date.
Effective as of the Newell Separation Date, the Board appointed Jane Chung, the Company’s President and Chief Operating Officer, to succeed Mr. Newell as Chief Executive Officer.
On August 8, 2024, the board of directors (the “ Board ”) of Sutro Biopharma, Inc. (the “ Company ”) appointed Sukhi Jagpal, as a Class III director, effective as of August 8, 2024, and as a member of the Audit Committee, effective as of August 15, 2024.
On November 21, 2023, Sutro Biopharma, Inc. (the “Company”) announced the appointment of Jane Chung, currently the Company’s Chief Commercial Officer since August 2021, to the position of President and Chief Operating Officer of the Company, effective as of December 1, 2023.
On April 24, 2023, Dr. Trevor Hallam notified Sutro Biopharma, Inc. (the “ Company ”) that he will resign from his role as President of Research and Chief Scientific Officer of the Company, effective May 31, 2023.
On April 10, 2023, Shalini Sharp notified the Board of Directors (the “Board”) of Sutro Biopharma, Inc. (the “Company”) of her resignation as a Class III director and as the Chair of the Audit Committee of the Board (the “Audit Committee”), effective immediately (the “Resignation”).
On October 18, 2022, Dr. Arturo Molina notified Sutro Biopharma, Inc. (the “ Company ”) that he will resign from his role as Chief Medical Officer of the Company, effective November 4, 2022.
On November 12, 2021, the board of directors (the “ Board ”) of Sutro Biopharma, Inc. (the “ Company ”) appointed Heidi Hunter, as a Class I director and member of the Audit Committee and Science and Technology Committee, effective as of November 19, 2021.
Max materiality 0.85 · Median 0.65 · Most common event other_material