SUTRO BIOPHARMA, INC.
STRO evidence brief
What we can confirm
- BioSniper Score:
- 4.6 / 10
- Market Cap:
- $316.7M
- Lead Asset:
- STRO-001 (Phase 1)
What it means
What to watch
Prepared research question
What matters most for STRO—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · STRO
Sutro Biopharma, Inc. (STRO) is a clinical-stage oncology company developing site-specific and novel-format antibody-drug conjugates (ADCs), with a pipeline including STRO-002, STRO-004, STRO-006, and STRO-227, and reported cash & equivalents of $54.3M as of 2026-06-30 [sec].
Key risk: Cash burn rate
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$316.7M
Cash Runway
—
Lead Asset
STRO-001 (Phase 1)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates for SUTRO BIOPHARMA, INC..
Sutro Biopharma, Inc. (STRO) is a clinical-stage oncology company developing site-specific and novel-format antibody-drug conjugates (ADCs), with a pipeline including STRO-002, STRO-004, STRO-006, and STRO-227, and reported cash & equivalents of $54.3M as of 2026-06-30 [sec].
- Cash & equivalents of $54.3M as of 2026-06-30 [sec].
- Total revenue of $9.8M and net loss of -$38.5M as of 2026-06-30 [sec].
- Shareholders' equity of -$103.3M as of 2026-06-30 [sec].
- Phase 1 study of STRO-004 (Tissue Factor ADC) dosed first cohort in December 2025; initial clinical data expected mid-2026 [news · published 2025-12-03].
- STRO-006, a next-generation integrin 6 (ITGB6)-targeting ADC, is on track to enter the clinic in Q3 2026 [news · published 2026-08-12].
What works
- Encouraging early clinical activity including confirmed and ongoing unconfirmed partial responses with favorable tolerability observed in the STRO-004 Phase 1 study [news · published 2026-08-12].
- Rapid enrollment of initial dose escalation cohorts for STRO-004 within 7 months [news · published 2026-08-12].
- Pipeline includes multiple next-generation ADC programs (STRO-004, STRO-006, STRO-227) with novel mechanisms such as dual-payload and targeting integrin alpha v beta 6 [pipeline].
- Operational restructuring in September 2025 intended to extend cash runway into at least mid-2027 [news · published 2025-09-29].
What to weigh
- Net loss of -$38.5M as of 2026-06-30 [sec].
- Negative shareholders' equity of -$103.3M as of 2026-06-30 [sec].
- Cash & equivalents declined from $205.1M as of June 30, 2025 to $54.3M as of June 30, 2026 [news · published 2025-08-07] [sec].
- STRO-002 (luveltamab tazevibulin) faces a competitive landscape with 54 competitors in ovarian cancer, including multiple Phase 2 programs [pipeline].
From the filings
Quoted directly from source documents.
STRO-004 Phase 1 early clinical activity
“Encouraging early clinical activity including confirmed and ongoing unconfirmed partial responses with favorable tolerability, and pharmacokinetics (PK) observed in ongoing STRO-004 Phase 1 study”
News · August 12, 2026
STRO-006 on track to enter clinic in Q3 2026
“STRO-006, next-generation integrin 6 (ITGB6)-targeting ADC, is on track to enter the clinic in the third quarter of 2026”
News · August 12, 2026
Catalyst timeline
- 2019-02-01 · Phase 1 Start for STRO-002 (FolRα ADC) in ovarian/endometrial cancers — Initiated Phase 1 open-label study of STRO-002 as monotherapy in advanced epithelial ovarian and endometrial cancers.
- 2022-03-22 · Phase 1 Start for STRO-002 in combination with bevacizumab — Initiated Phase 1 study of STRO-002 combined with bevacizumab in advanced epithelial ovarian cancer.
- 2023-07-12 · Phase 2 Start for REFRaME-O1 (STRO-002) — Initiated Phase 2/3 open-label study evaluating STRO-002 (luveltamab tazevibulin) in ovarian cancer.
Risks & what to watch (4)›
Key risks
- Cash burn rate — Cash & equivalents dropped from $205.1M (Jun 2025) to $54.3M (Jun 2026), indicating high cash burn [news · published 2025-08-07] [sec].
- Negative equity — Shareholders' equity of -$103.3M as of 2026-06-30 indicates accumulated losses exceed assets [sec].
- Clinical execution risk — STRO-004 initial clinical data expected mid-2026; any delay or negative readout could impact pipeline value [news · published 2025-12-03].
- Competitive landscape — STRO-002 faces 54 competitors in ovarian cancer, including multiple Phase 2 programs from larger firms [pipeline].
What to watch
- Initial clinical data from STRO-004 Phase 1 study expected mid-2026 [news · published 2025-12-03].
- STRO-006 entering the clinic in Q3 2026 [news · published 2026-08-12].
- Cash runway and any further restructuring or financing events to sustain operations beyond mid-2027 [news · published 2025-09-29].
- Progress of STRO-002 (luveltamab tazevibulin) in Phase 2 for ovarian cancer and head & neck squamous cell carcinoma [pipeline].
Sources: Catalysts · News · Pipeline · Generated October 11, 2026 · How we verify sources →
Run SUTRO BIOPHARMA, INC. through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
Your protocol can:
- Turn available SUTRO BIOPHARMA, INC. facts into screen rules or deeper checks
- Show cited findings, blockers, and unresolved evidence together
- Save the logic and rerun it as the company evidence changes
Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
Net income -$39M
Lead: Phase 2
3 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
71
Total value held
$342.7M
| Holder | Shares | Value |
|---|---|---|
| bvf inc/il | 1,251,788 | $31.2M |
| affinity asset advisors, llc | 1,069,519 | $26.6M |
| samsara biocapital, llc | 1,062,872 | $26.5M |
| kynam capital management, lp | 872,558 | $21.7M |
| orbimed advisors llc | 801,144 | $20.0M |
| vanguard capital management llc | 720,442 | $17.9M |
| eventide asset management, llc | 715,307 | $17.8M |
| perceptive advisors llc | 715,307 | $17.8M |
| ra capital management, l.p. | 715,307 | $17.8M |
| point72 asset management, l.p. | 692,111 | $17.2M |
Showing top 10 of 71 institutional holders of SUTRO BIOPHARMA, INC.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 3.9%
- Days to cover
- 3.1
- Shares short
- 639,714
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
STRO short interestGovernance
Frequently asked questions
What is the AI investment thesis for SUTRO BIOPHARMA, INC.?
Sutro Biopharma, Inc. (STRO) is a clinical-stage oncology company developing site-specific and novel-format antibody-drug conjugates (ADCs), with a pipeline including STRO-002, STRO-004, STRO-006, and STRO-227, and reported cash & equivalents of $54.3M as of 2026-06-30 [sec].
What is SUTRO BIOPHARMA, INC.'s lead drug candidate?
SUTRO BIOPHARMA, INC.'s most advanced tracked candidate is STRO-001 (Phase 1) for Head & Neck Squamous Cell Carcinoma.
Who is the CEO of SUTRO BIOPHARMA, INC.?
Ms. Jane Chung R.Ph. is the chief executive officer of SUTRO BIOPHARMA, INC. (STRO).
Where is SUTRO BIOPHARMA, INC. headquartered?
SUTRO BIOPHARMA, INC. (STRO) is headquartered in South San Francisco, CA, United States.
What therapeutic areas does SUTRO BIOPHARMA, INC. focus on?
SUTRO BIOPHARMA, INC. develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.