Sutro Biopharma Inc
sutrobio.comWhat Do They Do?
Develops antibody-drug conjugates for cancer treatment and uses its cell-free protein-making and conjugation platforms in collaborations with pharmaceutical and biotechnology companies.
10-K for FY2025, filed Mar 23, 2026
How Do They Make Money?
Partners pay for licenses upfront, milestone fees when development or regulatory targets are reached, and royalties on approved product sales; research and development services earn revenue as Sutro performs the work.
10-K for FY2025, filed Mar 23, 2026Collaboration Revenue: The Company derives revenue from collaboration arrangements, under which the Company may grant licenses to its…View ↗
License Grants: For collaboration arrangements that include a grant of a license to the Company’s intellectual property, the Company…View ↗
Milestone and Contingent Payments: At the inception of the arrangement and at each reporting date thereafter, the Company assesses whether…View ↗
Research and Development Services: For amounts allocated to the Company’s research and development obligations in a collaboration…View ↗
$102.5M
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10-K for FY2025, filed Mar 23, 2026
$102.5M ↗
Who Are Their Customers?
Pharmaceutical and biotechnology companies work with Sutro through product-focused oncology collaborations; Vaxcyte uses its platforms for vaccine development and receives technical support.
10-K for FY2025, filed Mar 23, 2026Enabled through our proprietary XpressCF® and XpressCF+® platforms, we have entered into multitarget, product-focused collaborations with…View ↗
Our XpressCF® and XpressCF+® platforms have also supported Vaxcyte, Inc., or Vaxcyte, focused on discovery and development of vaccines for…View ↗
Our XpressCF® and XpressCF+® platforms have also supported Vaxcyte, focused on discovery and development of vaccines for the treatment and…View ↗
Do Revenues Turn Into Profits?
No. It lost $191.1M in FY2025.
10-K for FY2025, filed Mar 23, 2026
How Are They Changing?
Growing. Revenue grew 66% in 4 years, from $61.9M in FY2021 to $102.5M in FY2025, about 13% a year.
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