SUTRO BIOPHARMA, INC.

Sutro Biopharma, Inc. reported a significant reduction in its net loss for the first quarter of 2026, decreasing to $38.5 million from $76.0 million in the prior year, primarily due to lower operating expenses following its 2025 restructuring plans. The company also successfully completed a public offering in February 2026, raising approximately $110.0 million in gross proceeds by selling 7.87 million shares of common stock. This capital raise substantially improved its cash position, with unrestricted cash, cash equivalents, and marketable securities increasing to $202.6 million, providing liquidity for at least 12 months, despite an accumulated deficit of over $1 billion.

Sutro Biopharma reported a net loss of $38.48 million for Q1 2026, an improvement from $75.97 million in Q1 2025, with revenue at $14.5 million. The company strengthened its balance sheet through a $110.0 million capital raise, boosting cash, cash equivalents, and marketable securities to $202.6 million, extending its cash runway into at least Q2 2028. Key pipeline programs, including STRO-004, STRO-006, and STRO-227, are progressing, with initial STRO-004 data expected mid-2026 and IND submissions for STRO-006 and STRO-227 planned for 2026.