Sutro Biopharma Q3 revenue misses estimates on Astellas collaboration
STRO•Sutro Biopharma reported Q3 revenue of $9.1 million, below the $10.34 million consensus estimate, and a net loss of $31.49 million. The company expects clinical updates for STRO-004 in the first half of 2027 and STRO-006 in the second half, with cash runway into the first half of 2028.
1. Revenue and expenses
Q3 revenue was $9.1 million, principally from the Astellas collaboration and including a milestone payment for patient dosing in a partnered program. Total research and development and general and administrative expenses fell from the prior year; Sutro reported a net loss of $31.49 million.
2. Clinical outlook
Sutro expects a STRO-004 clinical update and expansion cohorts in the first half of 2027, followed by an initial STRO-006 Phase 1 data update in the second half of 2027. The company expects its cash runway to support operations into the first half of 2028.
