Quarterly ResultAug 12, 2026, 07:22 AM
Sutro Biopharma Q2 Net Loss $(38.5)M; STRO-004 Shows Early Clinical Activity
AI Summary
Sutro Biopharma reported a net loss of $(38.5) million for Q2 2026, compared to $(11.5) million in Q2 2025, with revenue at $9.8 million. The company announced encouraging early clinical activity for STRO-004, its TF-targeting ADC, in a Phase 1 study, including partial responses and favorable tolerability. Sutro also highlighted pipeline progress, with STRO-006 expected to enter the clinic in Q3 2026 and STRO-227 on track for IND submission in 2026. The company maintains a strong balance sheet with $164.3 million in cash, supporting operations into at least Q2 2028.
Key Highlights
- Q2 2026 net loss was $(38.5) million, compared to $(11.5) million in Q2 2025.
- Q2 2026 revenue was $9.8 million, down from $63.7 million in Q2 2025.
- Cash, cash equivalents, and marketable securities totaled $164.3 million as of June 30, 2026.
- Cash runway expected to support operations into at least the second quarter of 2028.
- STRO-004 Phase 1 study showed early clinical activity with confirmed/unconfirmed partial responses.
- STRO-006 is on track to enter the clinic in the third quarter of 2026.
- STRO-227, a dual-payload ADC, is on track for IND submission in 2026.
- Astellas collaboration's second iADC program expected to enter clinic in H2 2026.
Price Impact
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