Sutro Biopharma Announces Operational Restructuring Intended to Extend Cash Runway through Key Milestones

Core Insights - Sutro Biopharma, Inc. is undergoing an organizational restructuring to focus on advancing its three antibody drug conjugate (ADC) programs and research collaborations, which is expected to extend its cash runway into at least mid-2027 [2][3] Company Overview - Sutro Biopharma is an oncology company specializing in site-specific and novel-format ADCs, aiming to deliver transformative therapies for cancer patients [2][4] - The company’s ADC platform is designed to optimize the antibody, linker, and payload, improving drug exposure, reducing side effects, and expanding treatable tumor types [4] Financial Outlook - The restructuring, along with anticipated near-term milestone payments, is projected to extend the company's financial runway through critical milestones, including the planned announcement of initial clinical data from STRO-004 in 2026 [2][3] Workforce Changes - The restructuring will involve a planned workforce reduction of approximately one-third of employees to enhance operational efficiencies [2][3]