Sutro Biopharma - STRO STOCK NEWS

Sutro Biopharma (NASDAQ: STRO) has received a milestone payment from Merck KGaA for achieving patient enrollment in a Phase 1 study of its investigational bispecific antibody-drug conjugate (ADC), M1231, targeting metastatic solid tumors, including non-small cell lung cancer. Sutro's CEO emphasizes this achievement highlights their collaboration's strength in addressing cancer unmet needs. Sutro is responsible for manufacturing the ADC, and will earn tiered royalties on future sales. M1231 represents Sutro's commitment to developing innovative cancer therapies.

Sutro Biopharma (NASDAQ: STRO) announced new data from the Phase 1 study of STRO-002, an antibody-drug conjugate for patients with advanced ovarian cancer. The study involved 39 patients and reported a median progression-free survival of 7.2 months and a median duration of response of 5.8 months among confirmed responders. High percentages of adverse events were manageable, with neutropenia being the most prominent. The promising data will be showcased at the ASCO 2021 Annual Meeting from June 4-8, 2021, indicating potential for STRO-002 as a new treatment option in ovarian cancer.

Sutro Biopharma (NASDAQ: STRO) announced that CEO Bill Newell will present at two virtual investor conferences on May 20 and June 2, 2021. The first event, Cowen's 2nd Annual Virtual Oncology Innovation Summit, features a fireside chat at 2:40 p.m. ET. The second, Jefferies Healthcare Conference, will include a company presentation at 4:30 p.m. ET. Live webcasts will be available on Sutro's website, with archives accessible for about 30 days. Sutro focuses on developing next-generation cancer therapeutics using innovative protein engineering technologies.

Sutro Biopharma (NASDAQ: STRO) reported Q1 2021 financial results, showcasing a revenue increase to $14.7 million from $7.2 million year-over-year, largely due to collaborations with Merck, BMS, and EMD Serono. However, operating expenses rose to $33.7 million from $26.3 million in the same quarter. Cash reserves as of March 31, 2021, stood at $294.9 million, projected to last into the second half of 2023. The company is advancing clinical trials for STRO-002 and other candidates, with significant data releases expected during 2021.

Sutro Biopharma (NASDAQ: STRO) has promoted Trevor Hallam, Ph.D., from Chief Scientific Officer to President of Research, while retaining his CSO position. Hallam has over 35 years of experience in drug discovery and has been with Sutro for over a decade, playing a pivotal role in advancing the company's cell-free protein synthesis platform. Sutro's platforms led to the development of multiple antibody-drug conjugates (ADCs), including STRO-001 and STRO-002. The company aims to expand its research initiatives under Hallam's leadership to maximize the potential of its proprietary technologies.

Sutro Biopharma (NASDAQ: STRO) has received a $15 million milestone payment from Merck for initiating an IND enabling toxicology study in their collaboration to develop novel cytokine derivative therapeutics targeting cancer and autoimmune disorders. This follows a July 2018 partnership where Sutro leads preclinical development utilizing its proprietary platforms. Previous collaboration details include a $5 million payment in March 2020 for extending research terms. This progress aligns with Sutro's mission to enhance treatment options for cancer patients.

Sutro Biopharma, Inc. (NASDAQ: STRO) announced that CEO Bill Newell will present at two virtual investor conferences on April 15 and May 5, 2021. The presentations will occur at the 20th Annual Needham Virtual Healthcare Conference and the 7th Annual Truist Securities Life Sciences Summit, respectively. Investors can access live webcasts on the company's website, with archived replays available for 30 days. Sutro Biopharma is focused on creating next-generation cancer therapeutics using advanced protein engineering technologies.

Sutro Biopharma (NASDAQ: STRO) announced key leadership promotions and appointments, enhancing its management structure. David Pauling, previously Executive Director of Legal Affairs, has been promoted to General Counsel, strengthening legal oversight for the company's drug development. Robert Kiss has been elevated to Senior Vice President of Process and Analytical Development, crucial for advancing Sutro's proprietary XpressCF® platform. Additionally, Ana Oaknin Benzaquen, a prominent clinical expert, joins the Clinical Advisory Board to guide the global expansion of STRO-002 trials.

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.