SUTRO BIOPHARMA, INC. 8-K

What Happened

• Sutro Biopharma, Inc. (STRO) filed an 8-K on March 23, 2026 announcing two items: the mutual termination of its Open Market Sale AgreementSM (ATM Program) with Jefferies LLC effective March 23, 2026, and the issuance of a press release reporting the company's financial results for the year ended December 31, 2025.
• The original Sales Agreement with Jefferies was entered on April 2, 2021. Following termination, Sutro may not offer or sell additional common shares under that Sales Agreement. The press release is attached as Exhibit 99.1 to the 8-K.

Key Details

• Sales Agreement (ATM) counterparty: Jefferies LLC; original agreement date: April 2, 2021.
• Termination effective date: March 23, 2026 (mutual agreement).
• Press release date: March 23, 2026, disclosing financial results for year ended December 31, 2025 (filed as Exhibit 99.1).
• 8-K signed by Gregory Chow, Chief Financial Officer, dated March 23, 2026.

Why It Matters

• Ending the ATM program removes an on-demand way for Sutro to raise capital by selling common shares under that agreement. That could affect the company’s near-term flexibility to access equity financing; investors should note the change when assessing liquidity and funding options.
• The attached press release contains the company’s reported 2025 results; investors should review it (Exhibit 99.1) for revenue, cash position, and other financial metrics to understand operational performance and capital needs.
• No other material agreements or executive changes were reported in this 8-K.