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 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.
Sutro Biopharma (NASDAQ: STRO) released interim Phase 1 safety and efficacy data for STRO-002, an anti-folate receptor alpha antibody drug conjugate targeting ovarian cancer. In 34 patients analyzed, the overall response rate was 24%, with 44% of patients remaining on treatment for over 16 weeks. Results from a data cut-off of Aug. 31, 2020, indicate a disease control rate of 60% for patients treated for 12 weeks or more. The company plans to initiate a dose expansion trial in less heavily pretreated ovarian cancer patients in Q4 2020.
Sutro Biopharma (NASDAQ: STRO) announced CEO Bill Newell's presentations at two upcoming investor conferences this September. The Wells Fargo Virtual Healthcare Conference will occur on Sept. 10, 2020, at 2:00 p.m. EDT, while the Cantor Fitzgerald Virtual Global Healthcare Conference is scheduled for Sept. 15, 2020, at 11:20 a.m. EDT. Webcasts of both events will be available on Sutro's website, with archived replays accessible for 30 days post-event. Sutro is focused on developing next-generation oncology therapeutics through innovative protein engineering.
Sutro Biopharma (NASDAQ: STRO) announced a conference call on September 9, 2020, to discuss updated Phase I data for STRO-002, an antibody-drug conjugate targeting ovarian and endometrial cancer. Key executives, including CEO Bill Newell and CMO Arturo Molina, will participate. The company will also present findings at the 2020 IGCS Annual Global Meeting from September 10-13, 2020, and a virtual presentation at the World ADC Digital conference from September 15-18, 2020. Intermediary results are expected to highlight STRO-002's efficacy.
Sutro Biopharma (NASDAQ: STRO) has achieved a significant milestone by delivering GMP clinical trial supply for its bispecific antibody drug conjugate (ADC), M1231, to Merck KGaA. This marks the company's first milestone payment under its 2014 collaboration with Merck. M1231 targets both MUC1 and EGFR and aims to provide innovative treatment options for solid tumors. Sutro continues to leverage its XpressCF® and XpressCF+™ technologies for drug development, reinforcing its commitment to enhance therapeutic windows for cancer patients.
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