Sutro Biopharma Q2 revenue misses estimates, posts wider loss

Sutro Biopharma

12/08/2026 12:10

Overview
U.S. oncology drug developer's Q2 revenue fell and missed analyst expectations
Company posted a wider net loss for Q2
Early STRO-004 trial data show favorable tolerability and clinical activity in advanced tumors

Outlook
Sutro expects to start Phase 1 trial for STRO-006 in Q3 2026
Second dual-payload iADC program with Astellas expected to enter clinic in H2 2026
Company expects cash position to support operations into at least Q2 2028

Result Drivers
STRO-004 TRIAL PROGRESS - Co cited rapid enrollment and dose optimization in Phase 1 STRIVE-01 study as key driver, with early clinical activity and favorable tolerability observed
ASTELLAS COLLABORATION - Q2 revenue mainly attributed to milestone payments from Astellas collaboration as dual-payload ADC programs advanced

Company press release: ID:nGNX7gQyMS

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$9.84 mln
$13.05 mln (11 Analysts)
Q2 Net Loss
 
$38.53 mln
 
Q2 Operating Expenses
 
$39.73 mln
 
Q2 Operating Income
 
-$29.89 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Sutro Biopharma Inc is $50.00, about 99.7% above its August 11 closing price of $25.04

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)