Looking at the filing carefully, I can see the balance sheet data is present in the source. Let me verify the figures: - Total current assets: $175,647 thousand (June 30, 2026) vs $150,926 thousand (December 31, 2025) - Marketable securities: $110,011 thousand vs $83,298 thousand - Total current liabilities: $52,898 thousand (June 30, 2026) - the December 31, 2025 figure appears cut off at "$75" with no complete number visible I will only report figures I can fully confirm from the source text.

Sutro Biopharma, Inc. (NASDAQ:STRO) filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission on August 12, 2026, covering the period ended June 30, 2026.

Key Highlights

  • Share count: As of August 7, 2026, the company had 16,581,171 shares of common stock outstanding.
  • Total assets: The filing reported total assets of $194,462 thousand as of June 30, 2026, compared with $173,830 thousand at December 31, 2025.
  • Marketable securities: Marketable securities stood at $110,011 thousand at June 30, 2026, up from $83,298 thousand at December 31, 2025.
  • Cash position: Cash and cash equivalents were $54,335 thousand at June 30, 2026, versus $58,130 thousand at December 31, 2025.
  • Pipeline focus: The company disclosed that its business is dependent on product candidates STRO-004, STRO-006, and STRO-227, generated from its proprietary XpressCF and XpressCF+ platforms.
  • Accumulated deficit risk: According to the filing, the company has "a history of significant losses and may never achieve or maintain profitability."

Sutro Biopharma's Balance Sheet and Pipeline Position at Mid-Year 2026

Sutro Biopharma, Inc. is a clinical-stage biopharmaceutical company based in South San Francisco, California, focused on the discovery and development of cancer treatments. According to the Form 10-Q covering the quarter ended June 30, 2026, the company's balance sheet showed total assets of $194,462 thousand, an increase from $173,830 thousand reported at December 31, 2025. The filing attributes a portion of this change to growth in marketable securities, which rose to $110,011 thousand from $83,298 thousand over the same period.

The filing identifies STRO-004, STRO-006, and STRO-227 as the company's key product candidates, all of which the registrant disclosed are generated from its proprietary XpressCF and XpressCF+ cell-free protein synthesis platforms. The company stated that its approach "to the discovery and development of our therapeutic treatments is based on novel technologies that are unproven and may not result in marketable products," and that it "will need substantial additional funds to advance development" of those candidates.

Among the risks disclosed, the filing noted the potential for Nasdaq listing non-compliance, cybersecurity threats including those enabled by artificial intelligence, dependence on third-party contract development and manufacturing organizations, and competition from other oncology-focused companies. The filing also stated that the company's collaborators "may fail to abide by the terms of the agreements" with Sutro, which could require enforcement through litigation or arbitration. Current assets at June 30, 2026, totaled $175,647 thousand, compared with $150,926 thousand at December 31, 2025, with accounts receivable increasing to $5,797 thousand from $3,977 thousand over that period.

What Was Disclosed

Sutro Biopharma filed its June 30, 2026, quarterly report disclosing balance sheet data, outstanding share count, key product candidates dependent on proprietary cell-free platforms, and a range of operational and financial risks, including funding needs and Nasdaq listing compliance concerns.