$STRO
SUTRO BIOPHARMA, INC.

2024 Q4 Form 10-Q Financial Statement

#000095017024126407 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $8.520M
YoY Change -49.66%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.33M
YoY Change -6.15%
% of Gross Profit
Research & Development $62.11M
YoY Change 36.0%
% of Gross Profit
Depreciation & Amortization $1.799M
YoY Change 3.39%
% of Gross Profit
Operating Expenses $76.44M
YoY Change 25.44%
Operating Profit -$67.92M
YoY Change 54.31%
Interest Expense $27.04M
YoY Change 977.37%
% of Operating Profit
Other Income/Expense, Net -$7.910M
YoY Change 33.16%
Pretax Income -$48.79M
YoY Change 2.83%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$48.79M
YoY Change -1.01%
Net Earnings / Revenue -572.62%
Basic Earnings Per Share -$0.59
Diluted Earnings Per Share -$0.59
COMMON SHARES
Basic Shares Outstanding 82.46M 81.96M
Diluted Shares Outstanding 82.04M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $388.3M
YoY Change 9.31%
Cash & Equivalents $174.6M
Short-Term Investments $213.7M
Other Short-Term Assets $10.87M
YoY Change 14.42%
Inventory
Prepaid Expenses
Receivables $6.655M
Other Receivables $0.00
Total Short-Term Assets $405.8M
YoY Change 6.43%
LONG-TERM ASSETS
Property, Plant & Equipment $19.00M
YoY Change -14.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.172M
YoY Change 119.46%
Total Long-Term Assets $46.05M
YoY Change -8.77%
TOTAL ASSETS
Total Short-Term Assets $405.8M
Total Long-Term Assets $46.05M
Total Assets $451.8M
YoY Change 4.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.216M
YoY Change 12.51%
Accrued Expenses $13.18M
YoY Change 15.9%
Deferred Revenue $72.56M
YoY Change 202.55%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $131.3M
YoY Change 78.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $1.694M
YoY Change -99.31%
Total Long-Term Liabilities $1.694M
YoY Change -99.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $131.3M
Total Long-Term Liabilities $1.694M
Total Liabilities $340.6M
YoY Change 6.65%
SHAREHOLDERS EQUITY
Retained Earnings -$714.4M
YoY Change 20.98%
Common Stock $825.5M
YoY Change 17.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $111.2M
YoY Change
Total Liabilities & Shareholders Equity $451.8M
YoY Change 4.66%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$48.79M
YoY Change -1.01%
Depreciation, Depletion And Amortization $1.799M
YoY Change 3.39%
Cash From Operating Activities -$64.52M
YoY Change 92.59%
INVESTING ACTIVITIES
Capital Expenditures $828.0K
YoY Change 158.75%
Acquisitions
YoY Change
Other Investing Activities $148.1M
YoY Change -230.28%
Cash From Investing Activities $147.3M
YoY Change -229.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.017M
YoY Change -117.72%
NET CHANGE
Cash From Operating Activities -64.52M
Cash From Investing Activities 147.3M
Cash From Financing Activities 1.017M
Net Change In Cash 83.79M
YoY Change -154.67%
FREE CASH FLOW
Cash From Operating Activities -$64.52M
Capital Expenditures $828.0K
Free Cash Flow -$65.34M
YoY Change 93.21%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Central Index Key
EntityCentralIndexKey
0001382101
CY2024Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
stro Proceeds From Sale Of Future Royalties Net Of Issuance Costs
ProceedsFromSaleOfFutureRoyaltiesNetOfIssuanceCosts
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
stro Premium On Common Stock Issued
PremiumOnCommonStockIssued
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-38662
dei Entity Registrant Name
EntityRegistrantName
SUTRO BIOPHARMA, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-0926186
dei Entity Address Address Line1
EntityAddressAddressLine1
111 Oyster Point Blvd
dei Entity Address City Or Town
EntityAddressCityOrTown
South San Francisco
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94080
dei City Area Code
CityAreaCode
650
dei Local Phone Number
LocalPhoneNumber
881-6500
dei Security12b Title
Security12bTitle
Common stock, $0.001 par value
dei Trading Symbol
TradingSymbol
STRO
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2024Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
82458725
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
174579000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69268000
CY2024Q3 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
213675000
CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
264413000
CY2024Q3 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
0
CY2023Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
41937000
CY2024Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
6655000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
36078000
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10870000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9846000
CY2024Q3 us-gaap Assets Current
AssetsCurrent
405779000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
421542000
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18997000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21940000
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19027000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22815000
CY2024Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7172000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3567000
CY2024Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
857000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
872000
CY2024Q3 us-gaap Assets
Assets
451832000
CY2023Q4 us-gaap Assets
Assets
470736000
CY2024Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
6216000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
9440000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13177000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14686000
CY2024Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
72560000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
20666000
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7203000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6420000
CY2023Q4 us-gaap Debt Current
DebtCurrent
4061000
CY2024Q3 stro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
32135000
CY2023Q4 stro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
38473000
CY2024Q3 us-gaap Liabilities Current
LiabilitiesCurrent
131291000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
93746000
CY2024Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
17999000
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
53379000
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
17661000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
23154000
CY2024Q3 stro Deferred Royalty Obligation Related To Sale Of Future Royalties Noncurrent
DeferredRoyaltyObligationRelatedToSaleOfFutureRoyaltiesNoncurrent
171967000
CY2023Q4 stro Deferred Royalty Obligation Related To Sale Of Future Royalties Noncurrent
DeferredRoyaltyObligationRelatedToSaleOfFutureRoyaltiesNoncurrent
149114000
CY2024Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1694000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1694000
CY2024Q3 us-gaap Liabilities
Liabilities
340612000
CY2023Q4 us-gaap Liabilities
Liabilities
321087000
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
82395350
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
82395350
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
61009829
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
61009829
CY2024Q3 us-gaap Common Stock Value
CommonStockValue
82000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
61000
CY2024Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
825458000
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
708975000
CY2024Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
106000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
21000
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-714426000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-559408000
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
111220000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
149649000
CY2024Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
451832000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
470736000
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8520000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16924000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
47234000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
40010000
CY2024Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
62108000
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
45669000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
181006000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
126660000
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14331000
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15269000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
39423000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
45780000
CY2024Q3 us-gaap Operating Expenses
OperatingExpenses
76439000
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
60938000
us-gaap Operating Expenses
OperatingExpenses
220429000
us-gaap Operating Expenses
OperatingExpenses
172440000
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-67919000
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-44014000
us-gaap Operating Income Loss
OperatingIncomeLoss
-173195000
us-gaap Operating Income Loss
OperatingIncomeLoss
-132430000
CY2024Q3 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
4875000
CY2023Q3 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
4550000
us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
13882000
us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
9952000
CY2024Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0
CY2023Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
694000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
2023000
CY2024Q3 stro Non Cash Interest Expense Related To The Sale Of Future Royalties
NonCashInterestExpenseRelatedToTheSaleOfFutureRoyalties
7910000
CY2023Q3 stro Non Cash Interest Expense Related To The Sale Of Future Royalties
NonCashInterestExpenseRelatedToTheSaleOfFutureRoyalties
5936000
stro Non Cash Interest Expense Related To The Sale Of Future Royalties
NonCashInterestExpenseRelatedToTheSaleOfFutureRoyalties
22380000
stro Non Cash Interest Expense Related To The Sale Of Future Royalties
NonCashInterestExpenseRelatedToTheSaleOfFutureRoyalties
6378000
CY2024Q3 stro Interest And Other Income Expense Net
InterestAndOtherIncomeExpenseNet
22167000
CY2023Q3 stro Interest And Other Income Expense Net
InterestAndOtherIncomeExpenseNet
-2739000
stro Interest And Other Income Expense Net
InterestAndOtherIncomeExpenseNet
26683000
stro Interest And Other Income Expense Net
InterestAndOtherIncomeExpenseNet
-8640000
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-48787000
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-47445000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-155010000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-135473000
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1839000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2385000
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-48787000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-49284000
us-gaap Net Income Loss
NetIncomeLoss
-155018000
us-gaap Net Income Loss
NetIncomeLoss
-137858000
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.59
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.59
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.81
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.81
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.3
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.3
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82043671
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82043671
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60599025
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60599025
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74934737
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74934737
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59894181
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59894181
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-48787000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-49284000
us-gaap Net Income Loss
NetIncomeLoss
-155018000
us-gaap Net Income Loss
NetIncomeLoss
-137858000
CY2024Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
269000
CY2023Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-9000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
85000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
625000
CY2024Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-48518000
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-49293000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-154933000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-137233000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
149649000
CY2024Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
117000
CY2024Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
911000
CY2024Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
374000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6068000
CY2024Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-134000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-58213000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
98024000
CY2024Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
37000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6159000
CY2024Q2 stro Stock Issued During Period Value Through The Underwritten Offerings
StockIssuedDuringPeriodValueThroughTheUnderwrittenOfferings
71527000
CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
24571000
CY2024Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-50000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-48018000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
152176000
CY2024Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
154000
CY2024Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
937000
CY2024Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
74000
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6545000
CY2024Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
269000
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-48787000
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
111220000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
217048000
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
314000
CY2023Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1097000
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
451000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6021000
CY2023Q1 stro Stock Issued During Period Value Through At The Market Sale
StockIssuedDuringPeriodValueThroughAtTheMarketSale
10923000
CY2023Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
511000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-50050000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
185413000
CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
6000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6661000
CY2023Q2 stro Stock Issued During Period Value Through At The Market Sale
StockIssuedDuringPeriodValueThroughAtTheMarketSale
1048000
CY2023Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
123000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-38524000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
154715000
CY2023Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
954000
CY2023Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1000
CY2023Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
33000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6003000
CY2023Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-9000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-49284000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
112432000
us-gaap Profit Loss
ProfitLoss
-155018000
us-gaap Profit Loss
ProfitLoss
-137858000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5350000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5085000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
8180000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
6022000
us-gaap Share Based Compensation
ShareBasedCompensation
18772000
us-gaap Share Based Compensation
ShareBasedCompensation
18685000
stro Noncash Lease Expenses
NoncashLeaseExpenses
3788000
stro Noncash Lease Expenses
NoncashLeaseExpenses
2447000
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
32139000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
2023000
stro Non Cash Interest Expense On Deferred Royalty Obligation
NonCashInterestExpenseOnDeferredRoyaltyObligation
22380000
stro Non Cash Interest Expense On Deferred Royalty Obligation
NonCashInterestExpenseOnDeferredRoyaltyObligation
6378000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-610000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-414000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-29423000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9505000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4629000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-778000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3415000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
755000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1509000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1773000
stro Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
-6610000
stro Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
4579000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
16085000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-4507000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-4710000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-3121000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-119802000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-125688000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
335490000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
379728000
stro Proceeds From Maturities Of Marketable Securities
ProceedsFromMaturitiesOfMarketableSecurities
360697000
stro Proceeds From Maturities Of Marketable Securities
ProceedsFromMaturitiesOfMarketableSecurities
390960000
stro Proceeds From Sales Of Marketable Securities
ProceedsFromSalesOfMarketableSecurities
33796000
stro Proceeds From Sales Of Marketable Securities
ProceedsFromSalesOfMarketableSecurities
11231000
us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
74047000
stro Payments To Acquire Equipment And Leasehold Improvements
PaymentsToAcquireEquipmentAndLeaseholdImprovements
2030000
stro Payments To Acquire Equipment And Leasehold Improvements
PaymentsToAcquireEquipmentAndLeaseholdImprovements
2874000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
131020000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
19589000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
71527000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
11971000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000000
us-gaap Repayments Of Debt
RepaymentsOfDebt
4083000
us-gaap Repayments Of Debt
RepaymentsOfDebt
9375000
stro Proceeds From Sale Of Future Royalties Net Of Issuance Costs
ProceedsFromSaleOfFutureRoyaltiesNetOfIssuanceCosts
136208000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
271000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
314000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
485000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
490000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1848000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
2051000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
94078000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
140679000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
105296000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
34580000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
70140000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
48126000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
175436000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
82706000
us-gaap Interest Paid Net
InterestPaidNet
63000
us-gaap Interest Paid Net
InterestPaidNet
971000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
15166000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
676000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
327000
stro Financing Component Associated With Program Fees
FinancingComponentAssociatedWithProgramFees
5186000
stro Financing Component Associated With Program Fees
FinancingComponentAssociatedWithProgramFees
7531000
stro Premium On Common Stock Issued
PremiumOnCommonStockIssued
429000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">1. Organization and Principal Activities</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Description of Business</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Sutro Biopharma, Inc. (the “Company”), is a clinical-stage oncology company developing site-specific and novel-format antibody drug conjugates, or ADCs. The Company was incorporated on </span><span style="font-size:10pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">April 21, 2003</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">, and is headquartered in </span><span style="font-size:10pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">South San Francisco</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">, </span><span style="font-size:10pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">California</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The Company operates and manages its business as one operating segment. The Company’s Chief Executive Officer reviews financial information on an aggregate basis for the purposes of allocating resources and evaluating financial performance.</span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">All the Company’s long-lived assets are maintained in the United States.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Liquidity</span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The Company has incurred significant losses and has negative cash flows from operations. As of September 30, 2024, there was an accumulated deficit of $</span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">714.4</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> million. Management expects to continue to incur additional </span><span style="font-size:10pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">substantial</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> losses in the foreseeable future as a result of the Company’s research and development and other operational activities.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">As of September 30, 2024, the Company had unrestricted cash, cash equivalents, and marketable securities of $</span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">388.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> million which are available to fund future operations. The Company will need to raise additional capital to support the completion of its research and development activities and to support its operations.</span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The Company believes that its unrestricted cash, cash equivalents, and marketable securities </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">as of September 30, 2024 will enable the Company to maintain its operations for a period of at least </span><span style="font-size:10pt;font-family:Arial;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">12</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> months following the filing date of its condensed financial statements.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2003-04-21
dei Entity Address City Or Town
EntityAddressCityOrTown
South San Francisco
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-714400000
us-gaap Substantial Doubt About Going Concern Within One Year
SubstantialDoubtAboutGoingConcernWithinOneYear
false
CY2024Q3 stro Unrestricted Cash Cash Equivalents And Marketable Securities At Carrying Value
UnrestrictedCashCashEquivalentsAndMarketableSecuritiesAtCarryingValue
388300000
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
174579000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81834000
CY2024Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
857000
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
872000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175436000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82706000
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
387985000
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
113000
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7000
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
388091000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
329540000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
54000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
33000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
329561000
CY2024Q3 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
0
CY2023Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
0
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
56700000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
110900000
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
33000
CY2024Q3 stro Other Than Temporary Impairment Losses Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossesDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2023Q3 stro Other Than Temporary Impairment Losses Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossesDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
stro Other Than Temporary Impairment Losses Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossesDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
stro Other Than Temporary Impairment Losses Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossesDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
72600000
CY2024Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
stro Aggregate Transaction Price
AggregateTransactionPrice
50400000
stro Nonrefundable Non Creditable Upfront Fee Payment
NonrefundableNonCreditableUpfrontFeePayment
50000000
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1984000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1979000
us-gaap Operating Lease Cost
OperatingLeaseCost
5952000
us-gaap Operating Lease Cost
OperatingLeaseCost
5055000
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
49000
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
59000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
140000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
102000
CY2024Q3 us-gaap Variable Lease Cost
VariableLeaseCost
680000
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
580000
us-gaap Variable Lease Cost
VariableLeaseCost
2127000
us-gaap Variable Lease Cost
VariableLeaseCost
1431000
CY2024Q3 us-gaap Lease Cost
LeaseCost
2713000
CY2023Q3 us-gaap Lease Cost
LeaseCost
2618000
us-gaap Lease Cost
LeaseCost
8219000
us-gaap Lease Cost
LeaseCost
6588000
CY2024Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
2000000
us-gaap Operating Lease Expense
OperatingLeaseExpense
6000000
us-gaap Operating Lease Payments
OperatingLeasePayments
6900000
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
2000000
us-gaap Operating Lease Expense
OperatingLeaseExpense
5100000
us-gaap Operating Lease Payments
OperatingLeasePayments
5700000
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y1M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M18D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.108
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.108
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2343000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
9533000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8994000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8289000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
29159000
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4295000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
24864000
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7203000
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
17661000
CY2024Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
18000
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
15165000
CY2024Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3460000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3897000
CY2024Q3 stro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
32135000
CY2023Q4 stro Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
38473000
CY2024Q3 stro Percentage Of Interest Rate Amortize Liability
PercentageOfInterestRateAmortizeLiability
0.1889
CY2024Q3 stro Non Cash Interest Expense On Deferred Royalty Obligation
NonCashInterestExpenseOnDeferredRoyaltyObligation
7900000
stro Non Cash Interest Expense On Deferred Royalty Obligation
NonCashInterestExpenseOnDeferredRoyaltyObligation
22400000
CY2023Q3 stro Non Cash Interest Expense On Deferred Royalty Obligation
NonCashInterestExpenseOnDeferredRoyaltyObligation
5900000
stro Non Cash Interest Expense On Deferred Royalty Obligation
NonCashInterestExpenseOnDeferredRoyaltyObligation
6400000
us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote per share
CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17763708
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
15970351
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6545000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6003000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18772000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18685000
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-48787000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-49284000
us-gaap Net Income Loss
NetIncomeLoss
-155018000
us-gaap Net Income Loss
NetIncomeLoss
-137858000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82043671
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82043671
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60599025
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60599025
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74934737
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74934737
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59894181
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59894181
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.59
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.59
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.81
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.81
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.3
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.3
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15090205
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13300197
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0000950170-24-126407-index-headers.html Edgar Link pending
0000950170-24-126407-index.html Edgar Link pending
0000950170-24-126407.txt Edgar Link pending
0000950170-24-126407-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
stro-20240930.htm Edgar Link pending
stro-20240930.xsd Edgar Link pending
stro-ex31_1.htm Edgar Link pending
stro-ex31_2.htm Edgar Link pending
stro-ex32_1.htm Edgar Link pending
stro-ex32_2.htm Edgar Link pending
stro-20240930_htm.xml Edgar Link completed