)
Sutro Biopharma (STRO) investor relations material
Sutro Biopharma Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Focus shifted to three wholly-owned preclinical ADC programs, with STRO-004 as the lead candidate; FDA IND clearance for STRO-004 received, with first patient dosing expected before year-end 2025.
Two major restructuring plans in 2025 resulted in a workforce reduction of about two-thirds and the exit from internal GMP manufacturing by year-end, prioritizing high-potential programs.
Ipsen partnership for STRO-003 was terminated in August 2025, leading to derecognition of $53.2 million in deferred revenue.
Presented new preclinical data on dual-payload ADCs at major conferences, highlighting innovation in overcoming resistance.
No products approved for commercial sale; revenue is derived from collaborations and licensing.
Financial highlights
Revenue for the nine months ended September 30, 2025 was $90.8 million, up 92% year-over-year, mainly due to the derecognition of deferred revenue from the Ipsen agreement.
Cash, cash equivalents, and marketable securities totaled $167.6 million as of September 30, 2025.
Net loss for the nine months ended September 30, 2025 was $144.3 million, compared to $155.0 million in the prior year period.
Research and development expenses decreased 28% year-over-year to $129.8 million, reflecting cost reductions from restructuring.
General and administrative expenses fell 18% year-over-year to $32.4 million.
Outlook and guidance
Management expects existing capital resources to fund operations for at least 12 months from the filing date, with cash runway potentially extending into mid-2027 due to cost reductions and anticipated milestone payments.
STRO-006 expected to enter clinical development in 2026; dual-payload ADC IND submission targeted for 2027.
Initial clinical data from STRO-004 and at least one other ADC program anticipated before mid-2027.
Additional capital will be needed to support ongoing R&D and operations beyond the current runway.
Operating expenses are expected to decrease as a result of restructuring, but may rise if clinical development advances.
Next Sutro Biopharma earnings date
Next Sutro Biopharma earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)