Sutro Biopharma ( (STRO) ) has released its Q1 earnings. Here is a breakdown of the information Sutro Biopharma presented to its investors.
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Sutro Biopharma, Inc. is an oncology-focused biotechnology company based in South San Francisco, California, specializing in the development of site-specific and novel-format antibody drug conjugates (ADCs). In its latest earnings report for the quarter ending March 31, 2025, Sutro Biopharma highlighted a strategic restructuring plan and financial performance metrics. The company reported a net loss of $75.97 million, an increase from the previous year’s loss of $58.21 million, despite a rise in revenue to $17.4 million from $13.0 million. This restructuring includes prioritizing its next-generation ADC pipeline, particularly focusing on STRO-004, while deprioritizing other projects and reducing its workforce by approximately 50%. Sutro Biopharma’s cash, cash equivalents, and marketable securities totaled $249.0 million, indicating a need for additional capital to sustain operations and complete ongoing research and development activities. Looking ahead, Sutro Biopharma’s management remains focused on advancing its ADC programs and exploring outlicensing opportunities, with a belief that current financial resources will support operations for at least the next 12 months.