Every 10-Q that Sutro Biopharma, Inc. (STRO) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow STRO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full STRO filings page.
Sutro Biopharma is a clinical-stage oncology company developing site-specific antibody drug conjugates using its XpressCF and XpressCF+ platforms. For the quarter ended June 30, 2026, the company reported revenue of $9.8 million, down from $63.7 million a year earlier, primarily reflecting the absence of Ipsen-related revenue. Operating expenses fell to $39.7 million from $67.1 million, following 2025 restructuring plans that reduced the workforce by about two-thirds and exited internal GMP manufacturing.
Quarterly net loss widened to $38.5 million from $11.5 million, driven by lower collaboration revenue and continued non-cash interest expense of $9.9 million on a deferred royalty obligation tied to Vaxcyte product royalties. For the first six months of 2026, net loss was $77.0 million, compared with $87.5 million in the prior-year period.
As of June 30, 2026, Sutro had $54.3 million in cash and cash equivalents and $110.0 million in marketable securities, totaling $164.3 million of unrestricted liquidity. Management states this should fund operations for at least 12 months from the reporting date. A February 2026 underwritten offering raised $110.0 million gross ($102.7 million net), but the balance sheet also includes a substantial $239.1 million deferred royalty obligation and a stockholders’ deficit of $103.3 million, underscoring ongoing dependence on external funding and successful advancement of its ADC pipeline, led by STRO-004.
Sutro Biopharma reported first-quarter 2026 results showing a smaller loss and a strengthened balance sheet as it refocuses on its ADC pipeline. Revenue was $14.5M, down from $17.4M a year earlier, mainly from its collaboration with Astellas. Operating expenses fell sharply to $44.2M from $85.9M, reflecting completion of major restructuring and lower R&D and G&A costs.
Net loss improved to $38.5M (net loss per share $2.94) from $76.0M (net loss per share $9.08). Cash, cash equivalents and marketable securities totaled $202.6M as of March 31, 2026, boosted by a February underwritten offering of 7.87M shares that generated about $110M in gross proceeds. Management believes this cash position can fund operations for at least 12 months.
The company continues to carry a significant $229.1M deferred royalty obligation tied to the sale of future Vaxcyte royalties, which generated $9.5M in non-cash interest expense this quarter. Sutro is prioritizing its TF-targeting ADC STRO-004, now in a Phase 1 trial, and advancing preclinical candidates STRO-006 and dual-payload STRO-227 while maintaining key collaborations with Astellas and Vaxcyte.
Sutro Biopharma (STRO) filed its Q3 2025 report, showing revenue of $9.7 million, up from $8.5 million a year ago. For the nine months, revenue reached $90.8 million versus $47.2 million, driven by collaboration activity including accelerated recognition tied to changes in partner programs. Q3 net loss was $56.9 million compared to $48.8 million, reflecting restructuring charges of $9.6 million in the quarter and $49.0 million year-to-date.
Unrestricted cash, cash equivalents and marketable securities totaled $167.6 million as of September 30, 2025, and management expects this to fund operations for at least 12 months after filing. Total assets were $209.7 million; the company reported a stockholders’ deficit of $87.3 million, largely due to an accumulated deficit of $931.2 million and a deferred royalty obligation of $209.9 million. Deferred revenue declined to $12.7 million from $82.3 million as obligations were satisfied. Sutro is prioritizing three preclinical ADC programs, exiting its internal GMP facility by year-end, and has announced workforce reductions that cumulatively approximate two-thirds. The company received a Nasdaq minimum bid price notice with a compliance period through December 17, 2025.