Sutro Biopharma(US:STRO) Globenewswire·2025-11-06 21:30Core Insights - Sutro Biopharma, Inc. has received U.S. FDA clearance for its Investigational New Drug (IND) application for STRO-004, a potential best-in-class Tissue Factor ADC, and plans to dose the first patient before the end of 2025 [1][3] - The company presented new preclinical data at industry conferences, showcasing advancements in dual-payload ADCs aimed at overcoming resistance and delaying progression [1][2] - Sutro's financial position includes cash, cash equivalents, and marketable securities totaling $167.6 million as of September 30, 2025, providing a cash runway into at least mid-2027 [1][10] Company Developments - STRO-004 is on track for its first-in-human trial, with a favorable safety profile observed in preclinical studies [3] - The company is advancing its dual-payload ADC program, with an IND submission targeted for 2027 [4] - Sutro's collaboration with Astellas is progressing, focusing on dual-payload immunostimulatory ADCs, with one program entering IND-enabling toxicology studies [5] Financial Performance - Revenue for Q3 2025 was $9.7 million, an increase from $8.5 million in Q3 2024, primarily driven by the Astellas collaboration [11] - Total R&D and G&A expenses for Q3 2025 were $48.6 million, down from $76.4 million in Q3 2024, reflecting cost reductions from recent restructuring [12] - The company reported a net loss of $56.9 million for Q3 2025, compared to a net loss of $48.8 million in Q3 2024 [18] Upcoming Events - Sutro will host a virtual R&D Day on November 12, 2025, to provide updates on its ADC programs [1][14] - The company will participate in the 37th Annual Piper Sandler Healthcare Conference from December 2-4, 2025 [8]