Sutro Biopharma, Inc. (STRO), a clinical-stage oncology company, reported its financial results for the full year 2025, reflecting a narrower net loss, backed by revenue from collaborations.
In addition, the firm provided upcoming milestones and presentation-related details for its investigational pipeline.
Company Profile
Sutro Biopharma advances its antibody-drug conjugate (ADC) platform to deliver single- and dual-payload ADCs for cancer. Its ADCs are engineered to improve drug exposure, reduce side effects, and expand the range of treatable tumour types. The company's wholly owned ADC pipeline includes,
- STRO-004, an ADC targeting Tissue Factor (TF), which is currently in a Phase 1 trial.
-STRO-006, a DAR 8 Topo1 ADC targeting integrin ß6, is expected to enter clinical development in 2026 for the treatment of multiple solid tumours.
-STRO-227, a PTK7-targeting dual-payload ADC, for which an IND submission is planned.
FY25 results
For the full year of 2025, the firm's net loss narrowed to $191.18 million, or $22.49 per share, from $225.10 million, or $29.40 per share, in the prior year.
Revenue increased to $102.48 million from $62.04 million in the prior year, primarily driven by collaborations with Astellas and Ipsen.
As of December 31, 2025, Sutro had cash, cash equivalents and marketable securities of $141.43 million. Also, with gross proceeds from the recent financing totalling $110 million, the company expects its cash runway to last at least into the second quarter of 2028.
Milestone's Ahead
Sutro has dosed three cohorts in the Phase 1 trial of STRO-004, a Tissue Factor (TF) ADC and is on track to report initial data in mid-2026.
In addition, the company announced that it is advancing STRO-227, targeting PTK7, towards an IND submission in 2026. Two research and development programs are progressing under Sutro's collaboration with Astellas Pharma, focused on dual-payload immunostimulatory ADCs.
The first program, targeting TROP2, has entered the clinic and is actively dosing patients, potentially triggering a $10 million milestone payment, with receipt expected in the second quarter of 2026.
The second program entered an IND-enabling toxicology study in the fourth quarter of 2025, triggering a $7.5 million milestone payment to Sutro.
Upcoming Presentations in April 2016 Medical Conferences
Sutro's strategic partner, Astellas Pharma, will present preclinical results from its TROP2-targeted iADC program in an oral presentation on Sunday, April 19, 2026 at 4:35-4:50 PM PT.
In addition, Sutro will present an oral presentation and multiple posters highlighting advances across its ADC pipeline and discovery platforms at the American Association for Cancer Research (AACR), April 17-22, 2026, San Diego, California.
Conclusion
"2026 is poised to be a pivotal year, propelled by disciplined clinical execution and initial data that we believe will showcase the vast potential of our proprietary ADC platform," said Jane Chung, Sutro's Chief Executive Officer.
STRO has traded between $5.20 and $26.54 over the last year. The stock closed Monday's trade at $21.33, up 3.14%.
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