Sutro Biopharma, Inc. logo

Sutro Biopharma, Inc.

STRO

NASDAQHealthcareBiotechnology

Latest quote

$20.96

−$0.12 · -0.57%

Aug 21, 3:59 PM ET

STRO company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

74

Undervalued

Momentum

57

Neutral

Sentiment

76

Bullish

Risk resilience

39

High Risk

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Company profile

Company website

Sutro Biopharma, Inc. is a clinical-stage biotechnology company focused on the discovery, development, and manufacturing of innovative therapeutic products. Its primary objective is to create protein-based treatments for challenging conditions like cancer and autoimmune disorders. The company achieves this through its proprietary XpressCF+ platform, a unique technology that integrates cell-free protein synthesis with precise, site-specific drug conjugation. Currently, Sutro's pipeline features two lead antibody-drug conjugate (ADC) candidates, both undergoing Phase 1 clinical evaluation. STRO-001 targets the CD74 protein, designed for individuals with multiple myeloma and non-Hodgkin lymphoma. The second candidate, STRO-002, is engineered to bind to folate receptor-alpha, intended for the treatment of ovarian and endometrial cancers. Strategic alliances are also a key part of its strategy, including collaborations and licensing agreements. A partnership with Merck aims to advance research programs involving cytokine derivatives for both oncological and autoimmune applications. Additionally, an agreement with Celgene Corporation focuses on identifying and developing bispecific antibodies and/or ADCs specifically within the immuno-oncology domain. Founded in 2003, the company initially operated under the name Fundamental Applied Biology, Inc. Its corporate headquarters are located in South San Francisco, California.

Industry
Biotechnology
Sector
Healthcare
Headquarters
US
CEO
Jane Chung
Listed since
Sep 27, 2018
Employees
128

Market position

Volume
194.68K
0.58× average
Average volume
333K
Average daily volume
Market cap
203.61M USD
Beta
1.52
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
55.86M USD
P/E (TTM)
-1.21×
P/B (TTM)
-3.37×
P/S (TTM)
4.46×
EV / EBITDA
-0.38×
Earnings yield
-194.35%
Free cash flow yield
-181.98%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
97.20%
Operating margin
-309.87%
Net margin
-395.25%
Return on equity
144.27%
Return on assets
-109.93%
Return on invested capital
-98.52%

Financial health

Debt / equity
-0.1×
Current ratio
2.01×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends144%-48%-240%-432%Gross margin, FY2021: 84.21%Gross margin, FY2022: 87.77%Gross margin, FY2023: 95.57%Gross margin, FY2024: 88.37%Gross margin, FY2025: 92.85%Operating margin, FY2021: -159.22%Operating margin, FY2022: -190.26%Operating margin, FY2023: -58.07%Operating margin, FY2024: -384.34%Operating margin, FY2025: -102.41%Net margin, FY2021: -170.55%Net margin, FY2022: -175.89%Net margin, FY2023: -69.47%Net margin, FY2024: -366.62%Net margin, FY2025: -186.45%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 84.21%. Gross margin FY2022 87.77%. Gross margin FY2023 95.57%. Gross margin FY2024 88.37%. Gross margin FY2025 92.85%. Operating margin FY2021 -159.22%. Operating margin FY2022 -190.26%. Operating margin FY2023 -58.07%. Operating margin FY2024 -384.34%. Operating margin FY2025 -102.41%. Net margin FY2021 -170.55%. Net margin FY2022 -175.89%. Net margin FY2023 -69.47%. Net margin FY2024 -366.62%. Net margin FY2025 -186.45%.

Income trends

Revenue

102.48M USD+65.18%

Operating income

−104.95M USD+55.99%

Net income

−191.09M USD+15.99%
Income trends across reported periods192.95M USD36.08M USD−120.8M USD−277.67M USDRevenue, FY2021: 61.88M USDRevenue, FY2022: 67.77M USDRevenue, FY2023: 153.73M USDRevenue, FY2024: 62.04M USDRevenue, FY2025: 102.48M USDOperating income, FY2021: −98.52M USDOperating income, FY2022: −128.94M USDOperating income, FY2023: −89.28M USDOperating income, FY2024: −238.45M USDOperating income, FY2025: −104.95M USDNet income, FY2021: −105.54M USDNet income, FY2022: −119.2M USDNet income, FY2023: −106.79M USDNet income, FY2024: −227.46M USDNet income, FY2025: −191.09M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 61.88M USD. Revenue FY2022 67.77M USD. Revenue FY2023 153.73M USD. Revenue FY2024 62.04M USD. Revenue FY2025 102.48M USD. Operating income FY2021 −98.52M USD. Operating income FY2022 −128.94M USD. Operating income FY2023 −89.28M USD. Operating income FY2024 −238.45M USD. Operating income FY2025 −104.95M USD. Net income FY2021 −105.54M USD. Net income FY2022 −119.2M USD. Net income FY2023 −106.79M USD. Net income FY2024 −227.46M USD. Net income FY2025 −191.09M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue102.48M USD62.04M USD153.73M USD67.77M USD61.88M USD
Cost of goods sold7.32M USD7.22M USD6.82M USD8.29M USD9.77M USD
Gross profit95.16M USD54.83M USD146.92M USD59.48M USD52.11M USD
Research and development166.42M USD252.04M USD180.43M USD137.17M USD104.4M USD
Selling, general, and administrative41.02M USD48.45M USD62.58M USD59.54M USD56M USD
Operating expenses200.11M USD293.28M USD236.19M USD188.43M USD150.63M USD
Interest income9.25M USD44.43M USD14.51M USD3.46M USD577K USD
Interest expense38.21M USD31.07M USD23.75M USD3.35M USD3.14M USD
Depreciation and amortization7.32M USD7.22M USD6.82M USD8.29M USD4.84M USD
Operating income−104.95M USD−238.45M USD−89.28M USD−128.94M USD−98.52M USD
Net income−191.09M USD−227.46M USD−106.79M USD−119.2M USD−105.54M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 7 misses, 0 met estimates
Average EPS surprise
+5.23%
11 comparable reports
Latest EPS result
-2.33
Estimate -2.19 · Miss by 6.39%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates-1.19-4.03-6.87-9.72Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 13, 2025: actual -8.9, estimate -8.3, surprise -7.18%, Miss. Q2 2025, reported May 8, 2025: actual -9.1, estimate -6.3, surprise -44.44%, Miss. Q3 2025, reported Aug 7, 2025: actual -1.4, estimate -3.82, surprise +63.39%, Beat. Q4 2025, reported Nov 6, 2025: actual -6.7, estimate -3.94, surprise -69.85%, Miss. Q1 2026, reported Mar 23, 2026: actual -5.29, estimate -8.16, surprise +35.19%, Beat. Q2 2026, reported May 14, 2026: actual -2.94, estimate -2.32, surprise -26.72%, Miss. Q3 2026, reported Aug 12, 2026: actual -2.33, estimate -2.19, surprise -6.39%, Miss. Q4 2026, reported Nov 5, 2026: actual —, estimate -1.66, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates68.13M47.94M27.75M7.56MQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 13, 2025: actual 14.8M USD, estimate 12.15M USD, surprise +21.79%, Beat. Q2 2025, reported May 8, 2025: actual 17.4M USD, estimate 11.61M USD, surprise +49.83%, Beat. Q3 2025, reported Aug 7, 2025: actual 63.75M USD, estimate 15.84M USD, surprise +302.50%, Beat. Q4 2025, reported Nov 6, 2025: actual 9.69M USD, estimate 10.14M USD, surprise -4.44%, Miss. Q1 2026, reported Mar 23, 2026: actual 11.65M USD, estimate 9.26M USD, surprise +25.82%, Beat. Q2 2026, reported May 14, 2026: actual 14.52M USD, estimate 8.89M USD, surprise +63.32%, Beat. Q3 2026, reported Aug 12, 2026: actual 9.84M USD, estimate 11.96M USD, surprise -17.74%, Miss. Q4 2026, reported Nov 5, 2026: actual —, estimate 13.61M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$51.00

142.40% upside
Past 12 months12-month forecastHigh $60.00Average $51.00Low $43.00

Rating distribution

20 ratings
Strong buy00%
Buy1890%
Hold15%
Sell15%
Strong sell00%

Recent analyst actions

12 institutions
Leerink PartnersmaintainOutperform
Deutsche BankmaintainBuy

Corporate actions

Corporate action history

Stock split

Effective Dec 3, 2025

1:10

STRO peers

ETFs holding STRO

Funds reporting this stock among their holdings, ordered by reported position size.

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