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SUTRO BIOPHARMA, INC. (STRO) Annual Reports

Q: Where can I read SUTRO BIOPHARMA, INC. (STRO) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

SUTRO BIOPHARMA, INC. is listed on Nasdaq, classified by the SEC under Biological Products, (No Diagnostic Substances) (SIC 2836). This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： Nasdaq
Fiscal year end： 12/31
SEC CIK： 1382101 →

Website：Official site ↗

Financial Highlights

FY2026 Q2 (quarterly, ended 2026-06-30)
	Current	Prior year	YoY
Revenue	$9.8M	$63.7M	-84.6%
Operating income	$-29.9M	$-3.3M	-793.5%
Net income	$-38.5M	$-11.5M	-235.1%
EPS (diluted)	$-2.33	$-0.14	-1564.3%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In mn (USD)

Revenue 9.84 mn Net income -38.5 mn

Show table：Income statement

Item	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Revenue	59.7	14.8	15.4	17.5	4.04	5.79	5.70	7.84	19.1	8.63	10.5	12.3	11.3	7.15	9.47	17.8	8.28	14.7	28.1	8.52	10.7	5.90	28.1	25.1	8.63	12.7	10.4	16.9	114	13.0	25.7	8.52	14.8	17.4	63.8	9.69	11.7	14.5	9.84
Operating income	1.36	—	—	-1.06	-15.2	-11.7	-12.1	-10.2	-3.27	-14.3	-13.7	-12.7	-14.8	-19.2	-16.4	-10.6	-24.8	-19.0	-9.80	-34.7	-35.0	-39.1	-19.4	-21.2	-49.2	-42.2	-46.2	-44.0	43.1	-56.6	-48.7	-67.9	-65.3	-68.5	-3.34	-48.5	-38.0	-29.7	-29.9
Net income	1.70	-1.11	-1.81	-1.42	-15.3	-12.1	-11.5	-10.2	-1.49	-14.3	-13.8	-12.9	-14.8	-19.6	29.9	17.1	-59.5	-30.4	-6.15	-30.9	-38.1	-39.1	-26.0	-19.5	-34.6	-50.0	-38.5	-49.3	31.1	-58.2	-48.0	-48.8	-72.4	-76.0	-11.5	-56.9	-46.8	-38.5	-38.5

Balance sheet

Quarterly · In mn (USD)

Total assets 194 mn Total liabilities 298 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Current assets	—	—	—	—	25.6	—	—	127	210	177	162	136	129	127	258	292	378	266	278	251	219	229	332	347	353	304	412	381	422	355	443	406	343	287	232	182	151	221	176
Total assets	—	—	—	—	40.8	—	—	145	223	202	189	172	156	154	278	307	394	359	360	371	341	304	386	401	407	358	465	432	471	403	489	452	387	321	262	210	174	242	194
Current liabilities	—	—	—	—	32.0	—	—	36.9	36.4	31.1	36.1	35.9	33.0	32.0	35.5	29.9	29.6	22.7	26.1	35.5	41.7	38.8	44.6	58.3	66.5	59.5	67.1	73.6	93.8	79.5	130	131	132	133	74.3	71.9	75.1	70.8	52.9
Total liabilities	—	—	—	—	47.3	—	—	99.2	91.6	71.7	69.3	61.8	58.6	71.8	70.8	63.1	62.1	51.2	52.3	87.9	88.8	83.3	177	171	190	173	310	319	321	305	337	341	343	347	294	297	306	309	298
Equity	-90.9	—	—	—	-109	-121	-132	-141	132	131	120	110	97.8	82.1	207	244	332	307	308	284	253	220	209	230	217	185	155	112	150	98.0	152	111	44.6	-25.8	-32.1	-87.3	-132	-66.9	-103

Cash flow

Quarterly · In mn (USD)

Operating -38.3 mn Investing 19.4 mn Financing -0.42 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating	-13.2	—	—	-32.2	-4.84	-15.0	-13.9	47.6	-5.93	-20.1	-15.6	-16.1	-13.2	-18.7	-12.5	-17.7	-18.9	-30.4	-5.26	-24.4	-21.6	-35.3	-3.19	65.8	-23.9	-61.0	-31.2	-33.5	14.1	-64.7	9.46	-64.5	-71.7	-67.9	-44.7	-38.2	-26.4	-42.3	-38.3
Investing	9.59	—	—	31.0	1.63	-0.36	-0.04	-81.8	2.03	-78.1	9.19	9.81	7.94	41.6	-57.1	0.3	15.8	-122	5.88	-2.24	20.8	33.0	47.9	-78.0	-37.9	67.5	66.2	-114	-23.5	64.1	-80.4	147	87.5	-16.3	2.58	40.0	18.7	-45.3	19.4
Financing	0.18	—	—	14.8	-0.18	-0.01	32.8	50.2	87.9	-0.46	-0.82	-1.13	-1.78	15.7	91.4	17.3	145	1.83	-0.04	0.96	0.51	0.76	5.49	29.9	12.2	8.76	138	-5.74	-3.12	-3.43	96.5	1.02	-0.02	0.07	-0.06	0.1	-0.06	103	-0.42
Cash at period end	11.6	—	—	25.4	22.0	6.63	25.4	41.4	125	26.6	19.4	11.9	4.96	43.6	65.3	64.4	206	55.8	56.4	30.7	30.4	28.9	79.1	96.8	47.3	62.5	235	81.8	69.3	65.2	90.8	175	190	106	64.0	65.9	58.1	73.7	54.3

Profitability

Quarterly · %

Operating margin -303.8% Net margin -391.6%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating margin	2.3%	—	—	-6.1%	-375.4%	-202.0%	-211.9%	-129.6%	-17.2%	-165.3%	-130.0%	-103.7%	-130.8%	-268.2%	-173.4%	-59.6%	-300.1%	-129.7%	-35.0%	-407.1%	-328.9%	-663.6%	-69.0%	-84.3%	-570.2%	-333.3%	-443.5%	-260.1%	38.0%	-435.1%	-189.4%	-797.2%	-440.7%	-393.8%	-5.3%	-499.9%	-326.7%	-204.2%	-303.8%
Net margin	2.9%	-7.5%	-11.8%	-8.1%	-379.8%	-207.9%	-202.3%	-130.6%	-7.8%	-165.1%	-131.1%	-105.2%	-130.8%	-274.0%	315.5%	96.2%	-719.3%	-207.1%	-21.9%	-362.8%	-357.9%	-663.2%	-92.6%	-77.5%	-400.8%	-394.9%	-370.0%	-291.2%	27.3%	-447.5%	-186.8%	-572.6%	-489.2%	-436.6%	-18.0%	-586.6%	-401.5%	-265.0%	-391.6%

Returns & leverage

Quarterly · %

ROE -1810.0% ROA -79.1% Debt ratio 153.1%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
ROE	—	—	—	—	—	—	—	—	-313.4%	-752.5%	—	—	-48.6%	-57.4%	-10.7%	7.1%	-14.9%	-22.0%	-30.7%	-48.1%	-36.1%	-43.3%	-51.9%	-47.8%	-50.8%	-64.1%	-78.4%	-100.8%	-58.3%	-81.1%	-81.1%	-110.9%	-234.2%	-679.1%	-347.6%	-1810.0%	—	—	—
ROA	—	—	—	—	-48.3%	—	—	-33.9%	-26.8%	-18.5%	-21.1%	-26.8%	-29.4%	-34.3%	-7.5%	5.3%	-11.7%	-16.7%	-24.8%	-37.4%	-28.7%	-34.5%	-36.0%	-31.8%	-31.9%	-39.3%	-33.5%	-41.4%	-24.3%	-30.2%	-26.1%	-28.1%	-53.0%	-67.7%	-55.5%	-65.5%	-68.1%	-54.5%	-79.1%
Debt ratio	—	—	—	—	115.9%	—	—	68.4%	41.0%	35.4%	36.7%	36.0%	37.5%	46.6%	25.5%	20.5%	15.8%	14.3%	14.5%	23.7%	26.0%	27.4%	45.8%	42.7%	46.7%	48.2%	66.7%	74.0%	68.2%	75.7%	68.9%	75.4%	88.5%	108.0%	112.2%	141.6%	176.2%	127.6%	153.1%

EPS

Quarterly · US$

EPS US$-2.33

Show table：EPS

Item	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
EPS（US$）	—	—	—	—	—	—	—	—	—	—	-0.60	-0.56	—	-0.84	0.94	0.45	-1.48	—	-0.13	-0.67	-0.83	-0.84	-0.55	-0.37	-0.61	-0.85	-0.64	-0.81	0.52	-0.95	-0.59	-0.59	-0.89	-0.91	-0.14	-0.67	-20.78	-2.94	-2.33

Revenue & profit

Year-to-date · In mn (USD)

Revenue 24.4 mn Net income -77.0 mn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In mn (USD)

Total assets 194 mn Total liabilities 298 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In mn (USD)

Operating -80.5 mn Investing -25.9 mn Financing 103 mn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Operating margin -244.4% Net margin -316.1%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE -1810.0% ROA -79.1% Debt ratio 153.1%

EPS

Year-to-date · US$

EPS US$-5.27

Revenue & profit

Annual · In mn (USD)

Revenue 102 mn Net income -191 mn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	51.7	38.4	42.7	42.7	61.9	67.8	154	62.0	102
Operating income	—	-37.2	-55.5	-71.1	-98.5	-129	-89.3	-238	-158
Net income	-19.7	-35.3	-55.7	-32.1	-106	-119	-107	-227	-191

Balance sheet

Annual · In mn (USD)

Total assets 174 mn Total liabilities 306 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2017	2018	2019	2020	2021	2022	2023	2024	2025
Current assets	25.6	210	129	378	219	353	422	343	151
Total assets	40.8	223	156	394	341	407	471	387	174
Current liabilities	32.0	36.4	33.0	29.6	41.7	66.5	93.8	132	75.1
Total liabilities	47.3	91.6	58.6	62.1	88.8	190	321	343	306
Equity	-109	132	97.8	332	253	217	150	44.6	-132

Cash flow

Annual · In mn (USD)

Operating -177 mn Investing 45.0 mn Financing 0.04 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating	—	12.7	-65.0	-67.8	-81.7	3.55	-112	-192	-177
Investing	—	-80.2	-51.1	0.6	-97.3	-35.0	-3.92	219	45.0
Financing	—	171	-4.18	269	3.26	48.3	138	94.0	0.04
Cash at period end	22.0	125	4.96	206	30.4	47.3	69.3	190	58.1

Profitability

Annual · %

Operating margin -154.5% Net margin -186.4%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating margin	—	-96.9%	-129.8%	-166.3%	-159.2%	-190.3%	-58.1%	-384.3%	-154.5%
Net margin	-38.0%	-91.9%	-130.4%	-75.2%	-170.6%	-175.9%	-69.5%	-366.6%	-186.4%

Returns & leverage

Annual · %

ROE -234.2% ROA -68.1% Debt ratio 176.2%

Show table：Returns & leverage

Item	2017	2018	2019	2020	2021	2022	2023	2024	2025
ROE	—	-313.4%	-48.6%	-14.9%	-36.1%	-50.8%	-58.3%	-234.2%	—
ROA	-48.3%	-26.8%	-29.4%	-11.7%	-28.7%	-31.9%	-24.3%	-53.0%	-68.1%
Debt ratio	115.9%	41.0%	37.5%	15.8%	26.0%	46.7%	68.2%	88.5%	176.2%

EPS

Annual · US$

EPS US$-22.50

Show table：EPS

Item	2017	2018	2019	2020	2021	2022	2023	2024	2025
EPS（US$）	—	—	—	-0.93	—	-2.37	-1.78	-3.02	-22.50

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
2025	Open full text →
2024	Open full text →
2023	Open full text →

10-K: annual report of a US domestic issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read SUTRO BIOPHARMA, INC. (STRO) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
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