Sutro Biopharma cuts workforce by one-third to extend cash runway

Sutro Biopharma has announced a significant reduction in its workforce, cutting one-third of its employees in an effort to extend its cash runway. This decision highlights the challenges the company faces in the competitive biopharmaceutical landscape and raises concerns about its future operations and research capabilities. The move is seen as a necessary step to ensure financial stability, but it also reflects the tough choices companies must make in uncertain economic times.