SUTRO BIOPHARMA, INC. 8-K

What Happened

• Sutro Biopharma, Inc. (NASDAQ: STRO) filed an 8-K reporting that on February 9, 2026 it entered an underwriting agreement with Leerink Partners LLC and TD Securities (USA) LLC to sell 7,868,383 shares of common stock at $13.98 per share. The Offering is expected to close on February 11, 2026, subject to customary closing conditions, and is being made under the company’s Form S-3 shelf registration (File No. 333-275525).

Key Details

• Shares offered: 7,868,383 common shares at $13.98 per share.
• Gross proceeds: approximately $110.0 million (before underwriting discounts, commissions and offering expenses).
• Use of proceeds: general corporate purposes, including research, clinical and process development, manufacturing, working capital, potential acquisitions/investments, and capital expenditures.
• Cash position impact: combined with cash, cash equivalents and marketable securities as of January 1, 2026, the company estimates total capital resources of roughly $251.4 million and expects this funding to support operations into the second quarter of 2028.
• Other: underwriting agreement includes customary terms (market standoff, indemnities); closing subject to customary conditions. Corporate presentation and counsel opinion are filed as exhibits.

Why It Matters

• The offering provides Sutro with near-term financing to fund its R&D, clinical and manufacturing programs and extend its cash runway into mid-2028.
• Investors should note the potential for dilution from the new shares and that net proceeds will be reduced by underwriting fees and offering expenses.
• The transaction is subject to closing conditions and forward-looking risks described in Sutro’s SEC filings; outcomes may affect the company’s stock and operations.