Sutro Biopharma Reports First Quarter 2026 Financial Results and Business Highlights
Sutro Biopharma reported Q1 2026 revenue of $14.5 million and a net loss of $38.5 million, significantly improved from a $76.0 million net loss in Q1 2025. The improvement was driven by a 49% year-over-year reduction in operating expenses, largely due to the closure of the luvelta program and associated restructuring costs, alongside disciplined R&D execution. The company completed a $110 million public offering at $13.98 per share, bringing its cash position to $202.6 million and extending its runway into at least the second quarter of 2028.
Key figures
- Revenue
- 14523000
- Revenue Yoy
- -16.5%
- Ga expense
- 7584000
- Rd expense
- 36553000
- Offering proceeds
- 110000000
- Shares outstanding
- 13082355
- Cash and securities
- 202558000
AI analysis
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