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Pipeline (4 active programs)

Technology platforms

Discontinued (2)

• luveltamab tazevibulin — undisclosed · strategic decision to deprioritize additional investment; development has since been terminated
• STRO-003 — undisclosed · Ipsen decided not to advance STRO-003 program following review of new data and ROR1 landscape; license terminated August 2025

Capital (as filed)

Cash

$54.3M cash and cash equivalents · Jun 30, 2026 (10-Q)

Short-term investments

$110M Jun 30, 2026

Operating cash flow

−$38.3M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)

As stated in coverage

$164M cash, runway at least Q2 2028 per the update of Aug 12, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (2)

• 2026-08-13 UPDATE: Sutro Biopharma (STRO) - The Binary Event Landed 🔒 Paid
• 2026-04-27 Sutro Biopharma (STRO) - Scientific Deep Dive for Lead and Pipeline Products 🔒 Paid

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (2 calls)

Every verdict Biotech Distilled has published on Sutro Biopharma, oldest first — the full history, never a selection. How calls are scored: the track record.

1. 2026-04-27 Speculative buy speculative Sutro Biopharma (STRO) - Scientific Deep Dive for Lead and Pipeline Products High-risk, high-reward platform turnaround with a make-or-break mid-2026 STRO-004 Phase 1 binary catalyst; balance sheet stabilized post-offering but CMO tech transfer and clinical translation remain key risks.
2. 2026-08-13 Buy core UPDATE: Sutro Biopharma (STRO) - The Binary Event Landed STRO-004 Phase 1 data confirmed the safety hypothesis in humans — 12% epistaxis vs. ~70% with Tivdak, 98% DAR8 retention, and CMO execution validated — upgrading from speculative to core buy despite efficacy remaining unquantified and next readout a year away.

• Long call · opened Apr 27, 2026 at $33.59 · -71.4% vs XBI +14.4% (Nov 6, 2026)

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (6 quotes from 3 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

• 2026-08-12 10-Q in filings ↓

  • “We expect to provide the next update on STRO-004 development in the first half of 2027.”

    matched to STRO-004 · topline data · read as first half of 2027

  • “We expect to initiate a Phase 1 clinical trial in connection with STRO-006 in the third quarter of 2026.”

    matched to STRO-006 · regulatory submission · read as third quarter of 2026
• 2026-08-12 8-K in filings ↓

  • “The next STR IV E-01 study update is targeted for the first half of 2027.”

    matched to STRO-227 · regulatory submission · read as first half of 2027
• 2026-08-12 10-Q in filings ↓

  • “We expect to provide the next update on STRO-004 development in the first half of 2027.”

    matched to STRO-004 · readout other · read as first half of 2027

  • “We expect to initiate a Phase 1 clinical trial in connection with STRO-006 in the third quarter of 2026.”

    matched to STRO-006 · regulatory submission · read as third quarter of 2026

  • “The next STR IV E-01 study update is targeted for the first half of 2027.”

    matched to STRO-227 · regulatory submission · read as first half of 2027

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (17)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Aug 12, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

• Nov 4, 2026ReleaseSutro Biopharma to Participate in Upcoming Investor Conferencesvia aggregator
• Oct 21, 2026ReleaseSutro Biopharma Announces First Patient Dosed in Phase 1 Trial of STRO-006, a Next-Generation ITGB6-Targeting ADC, in Advanced Solid Tumorsvia aggregatorSTRO-006 just dosed its first patient — Sutro's second ADC in the clinic in under a year, right on the catalyst timeline I published in August, even as the stock has been cut in half since that update.BD extracted 1 program update from this document → STRO pipeline
• Oct 14, 2026Release17th Annual World ADC Conference – Presentations
• Oct 12, 2026ReleaseSutro Biopharma Announces Participation at the 17th Annual World ADC Conferencevia aggregator
• Sep 29, 2026ReleaseSutro Biopharma Appoints Lucas Donigian as Senior Vice President, Business Developmentvia aggregator
• Aug 12, 2026ReleaseSutro Biopharma Reports Second Quarter 2026 Financial Results and Provides Early Update on STRO-004 Phase 1 Studyvia aggregatorBD extracted 1 program update from this document → STRO pipeline
• Aug 12, 20268-KCurrent report: results of operations, Reg FD disclosure · EX-99.1
• Aug 12, 202610-QQuarterly report
• Jun 8, 20268-KCurrent report: shareholder vote
• May 14, 20268-KCurrent report: results of operations · EX-99.1
• May 14, 202610-QQuarterly report
• Apr 22, 2026DEFA14AProxy soliciting material
• Apr 22, 2026DEF 14AProxy statement
• Apr 1, 2026424B3Prospectus (resale / update)
• Mar 23, 2026S-3Shelf registration
• Mar 23, 20268-KCurrent report: agreement terminated, results of operations · EX-99.1
• Mar 23, 202610-KAnnual report