STRO Stock — Sutro Biopharma Inc.: Cash, EV, Pipeline

Share price

$15.34

Market cap

$254.4M

Cash

$164.3M

Enterprise value

$90.1M

Balance sheet

Cash	$164.3M
Debt	$0.0M
Net cash	$164.3M
Enterprise value	$90.1M
Basic shares	16.6M shares
Fully diluted shares	18.9M shares
Fully diluted market cap	$290.2M
Cash per share	$9.90

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 12 - Feb 23	STRO-004	Phase 1	Head and Neck Squamous Cell Carcinoma HNSCC; Non-Small Cell Lung Cancer NSCLC; Esophageal Cancer	—
Mar 14 - Apr 25	STRO-006	Phase 1	Head & Neck Squamous Cell Carcinoma; Non-Small Cell Lung Cancer; Esophageal Cancer	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

STRO-004

Phase 1 · Active Modality: exatecan antibody-drug conjugate

Target Tissue Factor (TF)

Indications

TF-expressing solid tumors (NSCLC, HNSCC, cervical, colorectal, pancreatic, endometrial, bladder) (Phase 1)

Catalysts

— mid-2026

Status note IND cleared October 2025; Phase 1 initiated November 2025; initial data expected mid-2026 per filing.

STRO-006

Preclinical · Active Modality: antibody-drug conjugate

Target integrin alpha v beta 6 (ITG-beta-6)

Indications

solid tumors (Preclinical)

Catalysts

— 2026

Status note IND-enabling activities underway.

STRO-227

Preclinical · Active Modality: dual-payload antibody-drug conjugate

Target PTK7

Indications

solid tumors (Preclinical)

Catalysts

— late 2026 or early 2027

Status note First wholly-owned dual-payload ADC; CMC activities initiated.

STRO-003

Stage not disclosed · Terminated Modality: antibody-drug conjugate

Target ROR1

Partnerships Ipsen (exclusive license; Ipsen declined to advance, agreement terminated August 2025)

Indications

not disclosed (Stage not disclosed)

Status note Ipsen made a strategic decision not to advance the program; no further activities after June 30, 2025.

Luveltamab tazevibulin

Stage not disclosed · Terminated Modality: antibody-drug conjugate

Aliases STRO-002, luvelta

Partnerships Tasly (Greater China license)

Indications

not disclosed (Stage not disclosed)

Status note Development terminated following the March 2025 strategic portfolio review; workforce reduced by two-thirds under the restructuring plans.

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	STRO-004
Lead indication	Head and Neck Squamous Cell Carcinoma HNSCC
Lead phase	Phase 1
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07227168	Phase 1	Recruiting	Sponsor	STRO	—	Head and Neck Squamous Cell Carcinoma HNSCC; Non-Small Cell Lung Cancer NSCLC; Esophageal Cancer	—
NCT07807345	Phase 1	Not yet recruiting	Sponsor	STRO	—	Head & Neck Squamous Cell Carcinoma; Non-Small Cell Lung Cancer; Esophageal Cancer	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Sutro Biopharma, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
OrbiMed Advisors	743,944	-57,200	0.47%	2026-08-14
ADAR1 Capital Management	404,014	-120,427	0.63%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

STRO — Sutro Biopharma Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders