Sutro Biopharma, Inc.
1.0500-0.06 (-4.98%)
Oct 29, 4:00:00 PM EDT · NasdaqGM · STRO · USD
Key Stats
Market Cap
89.01MP/E (TTM)
-Basic EPS (TTM)
-2.51Dividend Yield
0%Recent Filings
8-K
Restructuring extends cash runway
Sutro Biopharma announced an organizational restructuring on September 29, 2025, slashing its workforce by about one-third to sharpen focus on three preclinical ADC programs and R&D collaborations. This move, paired with expected milestone payments, stretches the cash runway into mid-2027, past initial STRO-004 clinical data in 2026. Restructuring costs hit $4.1 million to $4.3 million, mostly in Q4 2025. Yet actual outcomes hinge on assumptions. 
10-Q
Q2 FY2025 results
Sutro Biopharma's Q2 FY2025 revenue surged 148% y/y to $63.7M, driven by $56.1M from Ipsen after their decision to halt STRO-003 development, while Astellas revenue dipped 70% y/y to $7.4M amid ongoing R&D services. Operating loss narrowed sharply to $3.3M from $48.7M y/y, thanks to 38% lower R&D spend and $18.4M in restructuring costs tied to deprioritizing luvelta and exiting internal manufacturing by year-end. Net loss improved to $11.5M ($0.14/share) from $48.0M ($0.59/share) y/y, with EPS aligning to 84.6M diluted shares. Cash and equivalents fell to $64.0M from $190.3M at year-end, but $205.1M total liquidity supports operations through at least 12 months; free cash flow not disclosed in the 10-Q. Restructuring should extend runway, yet Nasdaq delisting risk looms if shares stay below $1.00. 
8-K
Sutro Q2 revenue jumps, cash holds
Sutro Biopharma reported Q2 2025 results, posting $63.7 million in revenue from Astellas collaboration and Ipsen's STRO-003 decision, while slashing R&D expenses to $38.4 million amid luvelta program cuts that incurred $18.4 million in restructuring costs. Cash stood at $205.1 million, funding operations into early 2027. Pipeline advances include STRO-004's first-in-human trial starting H2 2025. Greg Chow joined as CFO in June. 
8-K
NASDAQ bid price noncompliance
Sutro Biopharma received a NASDAQ notice on June 20, 2025, for failing the $1.00 minimum bid price rule, triggering a 180-day compliance window ending December 17, 2025. The biotech must lift its stock price above $1 for ten straight business days to stay listed, or face potential transfer to the Capital Market for extra time. It eyes a reverse stock split if needed. Delisting looms without action. 
8-K
Stockholders approve reverse split
Sutro Biopharma's stockholders approved the election of Heidi Hunter, Jon Wigginton, and Michael Dybbs as Class I directors at the June 6, 2025 Annual Meeting, each for a three-year term. They ratified Ernst & Young LLP as auditors for 2025 and endorsed executive compensation on an advisory basis. Crucially, they greenlit a reverse stock split amendment, allowing a 1-for-5 to 1-for-25 ratio at board discretion. This move aims to boost share price compliance. 
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