Sutro Biopharma Inc 2024年度报告

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of theExchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflectthe correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any ofthe registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant on June 30, 2024 (the last business day of theRegistrant’s second fiscal quarter), based upon the closing price of $2.93 of the Registrant’s common stock as reported on The Nasdaq Global Market, was approximately$237.8million. The number of shares of the registrant’s common stock outstanding as of March 6, 2025,was83,775,336. DOCUMENTS INCORPORATED BY REFERENCEPortions of the registrant’s definitive proxy statement to be filed for its 2025 Annual Meeting of Stockholders are incorporated by reference into Part III hereof. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the end of the fiscal year covered by this Annual Report on Form 10-K. Sutro Biopharma, Inc.ANNUAL REPORT ON FORM 10-KTABLE OF CONTENTS PART I ITEM 1.BusinessITEM 1A.Risk FactorsITEM 1B.Unresolved Staff CommentsITEM 1C.CybersecurityITEM 2.PropertiesITEM 3.Legal ProceedingsITEM 4.Mine Safety DisclosuresPART IIITEM 5.Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases ofEquity SecuritiesITEM 6.[Reserved]ITEM 7.Management’s Discussion and Analysis of Financial Condition and Results of OperationsITEM 7A.Quantitative and Qualitative Disclosures About Market RiskITEM 8.Financial Statements and Supplementary DataITEM 9.Changes in and Disagreements with Accountants on Accounting and Financial DisclosureITEM 9A.Controls and ProceduresITEM 9B.Other InformationITEM 9C.Disclosure Regarding Foreign Jurisdictions that Prevent InspectionsPART IIIITEM 10.Directors, Executive Officers of the Registrant and Corporate GovernanceITEM 11.Executive CompensationITEM 12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMattersITEM 13.Certain Relationships and Related Transactions, and Director IndependenceITEM 14.Principal Accounting Fees and ServicesPART IVITEM 15.Exhibits and Financial Statement SchedulesITEM 16.Form 10-K SummarySignatures 111112147147150150151151151151151151152152156157 Forward-Looking Statements This Annual Report on Form 10-K, or Annual Report, contains forward-looking statements within the meaning ofSection 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and section 27A of theSecurities Act of 1933, as amended, or the Securities Act. All statements contained in this Annual Report other thanstatements of historical fact, including statements