NASDAQ$STRO
Sutro Biopharma Inc · Q1 2025 earnings
Q1 2025 earnings · · After market close · Investor relations
Briefing
Sutro Biopharma, Inc. reports a net loss of $75.968 million for Q1 2025, with total revenue increasing by 34% year-over-year, primarily driven by the Astellas Agreement.
Sutro Biopharma, Inc. experienced a net loss of $75.968 million in Q1 2025, an increase from the $58.213 million loss in Q1 2024. Total revenue grew by 34% to $17.399 million, largely due to increased revenue from the Astellas Agreement. Operating expenses rose by 23% to $85.913 million, primarily due to restructuring costs.
- Total revenue increased by 34% to $17.399 million in Q1 2025, primarily driven by the Astellas Agreement.
- Net loss for Q1 2025 was $75.968 million, compared to $58.213 million in Q1 2024, reflecting increased operating expenses.
- Operating expenses rose by 23% to $85.913 million, with significant restructuring and related costs of $21.043 million.
- The company had $249.0 million in unrestricted cash, cash equivalents, and marketable securities as of March 31, 2025, which is expected to fund operations for at least the next 12 months.
Headline financials
Revenue & EPS history
Sutro · Revenue · Quarterly
$17.4M
Revenue by segment
Sutro · $14.5M total across 2 segments · Q1 2026
- Astellas Pharma Inc.$14.5M—99.9%
- Vaxcyte, Inc.$15K—0.1%
Forward guidance
Sutro Biopharma, Inc. anticipates continued substantial losses due to ongoing research and development activities, with operating expenses expected to increase as product candidates advance through clinical development. The company will need to raise additional capital to support future operations.
Tailwinds
- The company's unrestricted cash, cash equivalents, and marketable securities of $249.0 million are expected to fund operations for at least the next 12 months.
- The company continues to advance its wholly-owned preclinical programs, including STRO-004 and STRO-006, with an IND filing for STRO-004 anticipated in H2 2025.
- The company plans to file three INDs over the next three years, including for STRO-004 and STRO-006.
- The company earned a $7.5 million contingent payment from Astellas for the initiation of an IND-enabling toxicology study.
- The company continues to explore outlicensing opportunities for luvelta.
Headwinds
- The company has incurred significant losses and negative cash flows from operations, with an accumulated deficit of $862.8 million as of March 31, 2025.
- Management expects to continue to incur additional substantial losses in the foreseeable future.
- The company will need to raise additional capital to support the completion of its research and development activities and operations.
- Operating expenses are anticipated to increase if product candidates advance through clinical development.
- The company intends to exit its internal GMP manufacturing facility by year-end 2025, relying on an external manufacturing strategy, which could pose transition risks.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2025
-0.8%
Avg return
Earnings day
-1.3%
Avg return
5 days after
+3.4%
Avg return
30 days after
42%
13 / 31 earnings
Positive
+22.2%
Q4 2023
Best reaction
-29.4%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +2.8% | -1.6% | — | |
| Q1 2026 | -3.1% | -20.2% | -27.0% | |
| Q3 2025 | -15.8% | -13.8% | -7.9% | |
| Q2 2025 | -2.1% | -4.9% | +29.3% | |
| Q1 2025 | -3.8% | -1.1% | -3.3% | |
| Q4 2024 | -11.7% | -20.3% | +21.6% | |
| Q3 2024 | -15.4% | -32.6% | -48.0% | |
| Q2 2024 | +10.8% | +29.9% | +37.3% | |
| Q1 2024 | +4.6% | -3.4% | -6.0% | |
| Q4 2023 | +22.2% | +65.2% | +1.5% | |
| Q3 2023 | +13.9% | +29.3% | +88.9% | |
| Q2 2023 | +0.9% | +1.2% | +7.1% | |
| Q1 2023 | +1.6% | -4.1% | -5.3% | |
| Q4 2022 | -3.1% | -9.6% | -10.7% | |
| Q3 2022 | -2.5% | -3.7% | +4.6% | |
| Q2 2022 | +14.6% | +23.1% | -2.4% | |
| Q1 2022 | -6.8% | -19.6% | -19.2% | |
| Q4 2021 | -2.5% | -8.0% | -8.3% | |
| Q3 2021 | -5.3% | -11.3% | -32.2% | |
| Q2 2021 | -0.2% | +2.3% | +12.4% | |
| Q1 2021 | +8.3% | +9.7% | -0.5% | |
| Q4 2020 | +4.2% | -3.7% | -16.5% | |
| Q3 2020 | +17.8% | +12.4% | +62.7% | |
| Q2 2020 | +1.7% | +1.0% | +48.9% | |
| Q1 2020 | -9.8% | -8.1% | +0.4% | |
| Q4 2019 | -29.4% | -19.9% | -3.4% | |
| Q3 2019 | -1.1% | -1.2% | -7.5% | |
| Q2 2019 | -7.0% | -3.8% | +19.6% | |
| Q1 2019 | -7.6% | -7.9% | +1.8% | |
| Q4 2018 | +5.4% | -1.2% | -12.6% | |
| Q3 2018 | -5.0% | -13.1% | -23.2% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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