Sutro Biopharma, Inc. - STRO STOCK NEWS

Sutro Biopharma (NASDAQ: STRO) reported its 2020 financial results, highlighting a cash increase to $326.5 million and a revenue of $42.7 million, consistent with 2019. The company advanced several cancer therapeutics, including STRO-002 for ovarian cancer and STRO-001 for B-cell malignancies. Partnerships with Merck, Bristol Myers Squibb, and EMD Serono are progressing well, with ongoing Phase 1 trials. However, operating expenses rose to $113.8 million in 2020 from $98.2 million in 2019. Sutro remains focused on advancing its clinical programs in 2021.

Sutro Biopharma (NASDAQ: STRO) will participate in the Ovarian Cancer Panel at the Cowen 41st Annual Healthcare Conference on March 2, 2021, at 12:50 p.m. ET. CEO Bill Newell and the senior management team will also hold one-on-one meetings with investors. Sutro is focused on drug discovery and manufacturing, utilizing its XpressCF® platform to develop next-generation cancer therapies, including STRO-001 and STRO-002, which are currently in Phase 1 clinical trials for various malignancies. Sutro aims to transform cancer treatment through innovative therapeutics.

Sutro Biopharma (NASDAQ: STRO) announced the dosing of the first patient in the Phase 1 dose-expansion study of STRO-002, a folate receptor alpha-targeting antibody-drug conjugate aimed at treating ovarian cancer. The study will assess STRO-002's efficacy and safety at dosages of 4.3 and 5.2 mg/kg every three weeks. Preliminary results indicated improved patient outcomes in a heavily pre-treated population. Sutro plans to expand this study across 35 clinical sites in the U.S. and Europe, and a cohort for endometrial cancer is anticipated later this year.

Sutro Biopharma (NASDAQ: STRO) announced that CEO Bill Newell will present at the 39th Annual J.P. Morgan Virtual Healthcare Conference on January 14, 2021, at 5:20 p.m. ET. A live webcast will be available on the company's website, with a replay for 30 days post-event. Sutro, based in South San Francisco, specializes in drug discovery and manufacturing, focusing on cancer and autoimmune therapeutics through its innovative protein engineering platforms. Key product candidates include STRO-001 and STRO-002, both undergoing Phase 1 trials for various cancers.

Sutro Biopharma (Nasdaq: STRO) has completed an upsized public offering of 6,900,000 shares of common stock priced at $21.00 per share, resulting in gross proceeds of $144.9 million. This offering, which included the full exercise of underwriters' options, will fund the clinical development of STRO-001 and STRO-002, alongside enhancing its technology platform for new product candidates. Proceeds will also cover general corporate purposes. The offering was managed by Cowen, Piper Sandler, and Wells Fargo Securities.

Sutro Biopharma (Nasdaq: STRO) announced a public offering of 6,000,000 shares at $21.00 per share, raising gross proceeds of $126 million before expenses. The offering is expected to close by December 11, 2020. Sutro plans to utilize the net proceeds for the continued clinical development of STRO-001 and STRO-002, expand its technology platform, enhance its product pipeline, and manage general corporate purposes. The underwriters received a 30-day option for an additional 900,000 shares.

Sutro Biopharma (Nasdaq: STRO) announced a proposed underwritten public offering of 5,000,000 shares of common stock, with an additional 750,000 shares available for purchase by underwriters. The funds will primarily support the clinical development of STRO-001 and STRO-002, along with advancing its technology platform. The offering is contingent on market conditions and the timing remains uncertain. Cowen, Piper Sandler, and Wells Fargo Securities are the lead managers of the offering, which is being conducted under an SEC registration statement.

Sutro Biopharma (NASDAQ: STRO) announced its Phase 1 dose-escalation trial results for STRO-001, an antibody-drug conjugate targeting CD74 in Non-Hodgkin Lymphoma (NHL), during the virtual ASH Annual Meeting. With 21 NHL patients treated, preliminary data show:

• 90% treatment-emergent adverse events were grade 1 or 2.
• 1 complete response and 2 partial responses in patients with diffuse large B-cell lymphoma.
• Stable disease observed in certain patients with follicular and marginal zone lymphoma.

The study continues to explore the 3.5 mg/kg dose level.

Sutro Biopharma (NASDAQ: STRO) provided a clinical update on STRO-002, an antibody-drug conjugate targeting ovarian cancer. The Phase 1 trial achieved enrollment of 39 patients, with significant results: 10 out of 31 evaluable patients meeting RECIST response criteria, including 1 complete response. Disease control was observed in 74% at 12 weeks and 58% at 16 weeks. The treatment was well-tolerated, with most adverse events being mild. Next steps include randomizing dose levels for expanded patient treatment starting January 2021 and evaluating broader patient populations.