STRO on Nasdaq

Sutro Biopharma

Logo: Sutro Biopharma, Public domain, via Wikimedia Commons5

Biotechnology company based in South San Francisco, California

Sutro Biopharma, Inc. is a publicly traded biotechnology company headquartered in South San Francisco, California focused on clinical-stage drug discovery, development and manufacturing.3 From Wikipedia, CC BY-SA 4.0

$11.28 up 0.76 (7.22%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 18, 2026.

Overview

2003Founded1

Compare with Century Therapeutics (United States), ImmunityBio, Inc. or Acceleron Pharma, or pick any stock.

  • TickerSTRO on Nasdaq1
  • Industrybiotechnology1
  • HeadquartersSouth San Francisco1
  • Websitewww.sutrobio.com
  • Legal formprivately held company1
  • Business address111 Oyster Point Blvd., South San Francisco, Ca 940806
  • Filer categoryNon-accelerated filer, Smaller reporting company6

See how the biggest companies compare on our leaderboards

111 Oyster Point Blvd
Photo: Coolcaesar, CC BY 4.0, via Wikimedia Commons8

Sutro Biopharma, Inc. is a publicly traded biotechnology company headquartered in South San Francisco, California focused on clinical-stage drug discovery, development and manufacturing. Using a proprietary cell-free protein synthesis platform, Sutro is working on oncology therapeutics using protein engineering and rational design. Founded in 2003 under the name Fundamental Applied Biology, the company name changed to Sutro Biopharma in 2009. William Newell, CEO as of 2024, joined Sutro in January 2009.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-154.5%Operating margin9
-186.5%Net margin9
65.2%Revenue growth, 20259

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development100¢$166.4M
  • Income tax0¢$93.0K

Out of $102.5M in revenue.9 The company lost money this year.

Financial statements

Revenue101112139$102.5M in 2025+140% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $42.7M$42.7M20192020: $42.7M$42.7M2020−0%2021: $61.9M$61.9M2021+45%2022: $67.8M$67.8M2022+10%2023: $153.7M$153.7M2023+127%2024: $62.0M$62.0M2024−60%2025: $102.5M$102.5M2025+65%
Operating income101112139-$158.4M in 2025+186% since 2019
-$300.0M-$200.0M-$100.0M02019: -$55.5M-$55.5M20192020: -$71.1M-$71.1M2020+28%2021: -$98.5M-$98.5M2021+39%2022: -$128.9M-$128.9M2022+31%2023: -$89.3M-$89.3M2023−31%2024: -$238.5M-$238.5M2024+167%2025: -$158.4M-$158.4M2025−34%
Net income1112139-$191.1M in 2025+60% since 2019
-$300.0M-$200.0M-$100.0M02019: -$119.2M-$119.2M20192020: -$32.1M-$32.1M2020−73%2021: -$105.5M-$105.5M2021+228%2022: -$119.2M-$119.2M2022+13%2023: -$106.8M-$106.8M2023−10%2024: -$227.5M-$227.5M2024+113%2025: -$191.1M-$191.1M2025−16%

Every line of the income statement as filed: the last 2 fiscal years, latest first.9

Period ending2025-12-312024-12-31
Revenue$102.5M$62.0M
Research and development$166.4M$252.0M
General and administrative$41.0M$48.5M
Restructuring and related costs$53.4M
Total operating expenses$260.9M$300.5M
Loss from operations-$158.4M-$238.5M
Interest income$9.3M$18.6M
Non-cash interest expense related to the sale of future royalties-$38.2M-$31.1M
Interest and other income (expense), net-$3.9M$25.8M
Loss before provision for income taxes-$191.2M-$225.1M
Provision for income taxes-$93.0K$2.4M
Net loss-$191.1M-$227.5M
Net loss per share, basic-$22.49-$29.40
Net loss per share, diluted-$22.49-$29.40
Weighted-average shares used in computing basic net loss per share8.5M shares7.7M shares
Weighted-average shares used in computing diluted net loss per share8.5M shares7.7M shares

Compare Sutro Biopharma with another company

Leadership

Who has led Sutro Biopharma, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. William J. Newell2018–2025
  2. Jane Chung2025–now

President

  1. William J. Newell2018
  2. Jane Chung2023–2025

Chief financial officer

  1. Edward C. Albini2018–2025
  2. Gregory K. Chow2025–now

Chief operating officer

  1. Jane Chung2023–2025
20052010201520202025
Board members and other officers (27)

Products and brands

Sutro's Xpress CF Platform is based on Stanford Professor James R. Swartz's patented Open Cell-Free Synthesis (OCFS) technology. XpressCF technology enables the parallel expression of hundreds of protein variants in less than 24 hours, providing a platform for the discovery and development of a wide variety of protein classes including cytokines, vaccine carrier-proteins, antibodies, and novel antibody-based proteins. The XpressCF+ platform allows for precise incorporation of non-natural amino acids into a protein sequence, and Sutro is using this technology to develop homogeneous site-specific antibody-drug conjugates (ADCs). Once identified, production of protein drug candidates can be scaled in Sutro's cGMP manufacturing facility located in San Carlos, CA.

Sutro's technology has also contributed to the formation of SutroVax, a vaccine spin off founded in 2015 that has raised over US$170 million in capital.

From Wikipedia’s article on Sutro Biopharma, shared under CC BY-SA 4.0.7

Former names

  • SUTRO BIOPHARMA INCMar 11, 2009 to Nov 8, 20186
  • Fundamental Applied Biology IncNov 8, 2006 to Oct 24, 20076

Timeline

  1. Apr 8, 2025New chief executive Jane Chung becomes CEO17
  2. Sep 26, 2018New chief executive William J. Newell becomes CEO18
  3. 2003Founded Founded1

Filings

350 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 57 major events, 182 insider forms, 48 large holders, 43 other. The latest 20:

  1. Sep 22, 20264 EDGAR
  2. Aug 14, 2026SCHEDULE 13G/A EDGAR
  3. Aug 14, 2026SCHEDULE 13G/A EDGAR
  4. Aug 12, 202610-Q EDGAR
  5. Aug 12, 20268-K EDGAR
  6. Jul 30, 2026SCHEDULE 13G EDGAR
  7. Jun 9, 20264 EDGAR
  8. Jun 9, 20264 EDGAR
  9. Jun 9, 20264 EDGAR
  10. Jun 9, 20264 EDGAR
  11. Jun 9, 20264 EDGAR
  12. Jun 9, 20264 EDGAR
  13. Jun 9, 20264 EDGAR
  14. Jun 9, 20264 EDGAR
  15. Jun 8, 20268-K EDGAR
  16. Jun 2, 20264 EDGAR
  17. May 15, 2026SCHEDULE 13G/A EDGAR
  18. May 15, 2026SCHEDULE 13G EDGAR
  19. May 14, 202610-Q EDGAR
  20. May 14, 20268-K EDGAR

The 350 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 48 such filings since October 2021, the latest 10:

  1. Aug 14, 2026SCHEDULE 13G/A
  2. Aug 14, 2026SCHEDULE 13G/A
  3. Jul 30, 2026SCHEDULE 13G
  4. May 15, 2026SCHEDULE 13G/A
  5. May 15, 2026SCHEDULE 13G
  6. May 14, 2026SCHEDULE 13G/A
  7. May 1, 2026SCHEDULE 13G
  8. Apr 21, 2026SCHEDULE 13G
  9. Apr 21, 2026SCHEDULE 13G/A
  10. Feb 18, 2026SCHEDULE 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 95. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Perceptive Advisors LLC1,304,846$43.3M0.7%+589,539
Bvf Inc/il1,251,788$41.6M1.1%No change
Affinity Asset Advisors, LLC1,172,487$38.9M1.9%+102,968
BlackRock, Inc.1,122,655$37.3M0.0%+889,971
Samsara Biocapital, LLC1,062,872$35.3M2.9%No change
Kynam Capital Management, LP872,558$29.0M1.6%No change
Orbimed Advisors LLC743,944$24.7M0.5%−57,200
Balyasny Asset Management L.P.711,162$23.6M0.0%+245,370
Vanguard Capital Management LLC694,219$23.0M0.0%−26,223
Eventide Asset Management, LLC585,262$19.4M0.3%−130,045
Velan Capital Investment Management LP512,160$17.0M10.4%No change
Woodline Partners LP458,029$15.2M0.0%+588
ADAR1 Capital Management, LLC404,014$13.4M0.6%−120,427
Geode Capital Management, LLC389,692$12.9M0.0%+218,306
Millennium Management LLC365,972$12.2M0.0%+155,594
State Street Corp305,979$10.2M0.0%+253,861
Merck & Co., Inc.272,351$9.0M1.7%New
Acuta Capital Partners, LLC270,251$9.0M6.3%+826
Ameriprise Financial Inc244,669$8.1M0.0%New
Point72 Asset Management, L.P.237,827$7.9M0.0%−454,284
KVP Capital Advisors, LP226,575$7.5M5.5%No change
UBS Group AG208,512$6.9M0.0%−184,359
Two Sigma Investments, LP201,688$6.7M0.0%+136,512
Vanguard Portfolio Management LLC197,562$6.6M0.0%New
Marshall Wace, Llp175,246$5.8M0.0%−47,388

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
    Yahoo FinanceSTRO quote
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46