Sutro Biopharma Prices $110M Stock Offering at $13.98 Per Share
Sutro Biopharma has priced an underwritten offering of 7,868,383 common shares at $13.98 each, raising about $110.0 million before expenses. Proceeds will fund general corporate purposes including research, clinical and process development, manufacturing and potential acquisitions.
1. Offering Details
Sutro Biopharma offered 7,868,383 shares of common stock at $13.98 per share in an underwritten deal, targeting gross proceeds of approximately $110.0 million. The transaction is set to close on or about February 11, 2026, subject to customary closing conditions.
2. Use of Proceeds
Net proceeds, combined with existing cash and marketable securities, will support general corporate purposes, including funding research, clinical and process development, scaling manufacturing operations, and exploring potential acquisitions or investments.
3. Investor Participation
The offering drew participation from both new and existing investors such as BVF Partners L.P., Samsara BioCapital, Coastlands Capital, Eventide Asset Management, Perceptive Advisors, RA Capital Management, ADAR1 Capital Management, Affinity Asset Advisors, and Acuta Capital Partners.
4. Underwriters and Conditions
Leerink Partners, TD Cowen and LifeSci Capital acted as joint bookrunning managers. The closing remains subject to the satisfaction of customary conditions and registration requirements under a previously declared effective Form S-3.