Welcome to our dedicated page for Sutro Biopharma news (Ticker: STRO), a resource for investors and traders seeking the latest updates and insights on Sutro Biopharma stock.
Sutro Biopharma, Inc. (NASDAQ: STRO) is a clinical-stage biopharmaceutical company based in South San Francisco, focused on the discovery, development, and manufacturing of next-generation cancer therapeutics. The company leverages its proprietary cell-free protein synthesis platform, XpressCF®, to produce novel antibody-drug conjugates (ADCs) and bispecific antibodies that target cancer cells with precision, aiming to offer improved safety and efficacy over traditional treatments.
Key products in Sutro's pipeline include STRO-001, designed for patients with multiple myeloma and non-Hodgkin lymphoma, and STRO-002 (also known as luveltamab tazevibulin or 'luvelta') for the treatment of ovarian and endometrial cancers. The company has recently initiated Phase 2/3 clinical trials for luvelta in platinum-resistant ovarian cancer (PROC) and is progressing towards trials for endometrial cancer. Sutro is also exploring additional indications, including non-small cell lung cancer and a rare pediatric form of acute myeloid leukemia (AML).
Recent achievements include the appointment of Dr. Hans-Peter Gerber as Chief Scientific Officer and the presentation of promising preliminary data for luvelta in endometrial cancer at ESMO 2023. Financially, Sutro reported cash and investments totaling $321.1 million and an additional $34.0 million in Vaxcyte common stock as of September 30, 2023, providing a projected cash runway into the first half of 2025.
Sutro's innovative approach is not limited to its product pipeline. The company operates the world's only cGMP cell-free manufacturing facility in San Carlos, California, giving it a strategic advantage in the biopharmaceutical industry. Sutro's numerous partnerships and collaborations have generated about $785 million in payments through September 2023, reflecting the significant value of its platform.
Sutro continues to build a robust pipeline and high-value collaborations, including recent partnerships with healthcare-focused institutional investors. The company has a strong financial outlook and a growing portfolio of clinical-stage candidates aimed at transforming cancer treatment. For more information, visit Sutro Biopharma.
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.
Sutro Biopharma (NASDAQ: STRO) announced the appointment of Jon M. Wigginton, M.D. to its Board of Directors on December 1, 2020. Dr. Wigginton brings over 25 years of experience in clinical oncology and drug development, with previous leadership roles at Bristol Myers Squibb and MacroGenics. His expertise in immuno-oncology is expected to enhance Sutro's clinical pipeline of antibody drug-conjugates, including STRO-001 and STRO-002. The addition of Dr. Wigginton comes at a critical time as Sutro advances its proprietary technology and aims to expand its therapeutic reach.
Sutro Biopharma (NASDAQ: STRO) will host a live webcast on Dec. 3, 2020, at 5pm ET to update on the Phase 1 study of STRO-002, a targeted ADC for ovarian cancer. This follows the data cut-off of Oct. 30, 2020. Principal Investigators, Dr. Lainie P. Martin and Dr. Wendel Naumann, will present findings from the study. The trial is registered under NCT03748186 and aims to evaluate the safety and effectiveness of STRO-002. The webcast registration link is available on Sutro's website.
Sutro Biopharma (NASDAQ: STRO) announced the appointments of Diana Landa as Vice President of Regulatory Affairs and Annie Chang as Head of Investor Relations, enhancing its leadership team. Landa brings 20 years of regulatory experience from Amgen, while Chang has over 15 years in investor relations, previously with Solebury Trout. CEO Bill Newell and CMO Arturo Molina highlighted these appointments as vital for advancing Sutro's clinical pipeline and public presence. Sutro continues to focus on oncology therapeutics with promising products in development, including STRO-001 and STRO-002.
Sutro Biopharma (NASDAQ: STRO) announced CEO Bill Newell's participation in four virtual conferences scheduled from November to December 2020. Key details include:
- Stifel Virtual Healthcare Conference: Nov. 16, at 3:20 PM ET.
- Jefferies Virtual London Healthcare Conference: Nov. 19, at 12:35 PM ET.
- Piper Sandler 32nd Annual Healthcare Conference: Dec. 1-3, with discussions available from Nov. 23.
- Evercore ISI HealthCONx Conference: Dec. 3, at 10:30 AM ET.
Webcasts will be available through the company’s Investor Relations website.
Sutro Biopharma reported its Q3 2020 financial results, highlighting a revenue of $17.8 million for the quarter, up from $12.3 million in Q3 2019. Total cash and marketable securities reached $202.4 million, a significant increase from $133.5 million at the end of 2019. The company is advancing its clinical trials for STRO-001 and STRO-002, with positive interim data presented at recent conferences. Sutro also recognized a $17.1 million net income, primarily from an unrealized gain on Vaxcyte common stock.
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