Sutro Biopharma, Inc. - STRO STOCK NEWS

Sutro Biopharma reports promising data on its investigational drug STRO-002, presented at ASH 2022. A compassionate use program treated 17 pediatric patients with relapsed/refractory CBF/GLIS subtype acute myeloid leukemia, with eight achieving complete remission, seven of whom were MRD negative. The FDA granted Orphan Drug Designation for STRO-002, indicating strong potential for this treatment in a patient group with a poor prognosis. The drug is also under clinical study for advanced ovarian and endometrial cancers, showcasing its broader application.

Sutro Biopharma, a clinical-stage oncology company, announced that CEO Bill Newell will participate in two upcoming investor conferences. The first is the Piper Sandler 34th Annual Healthcare Conference on November 30, 2022, at 10:30 a.m. ET in New York. The second is the JMP Securities Hematology and Oncology Summit on December 6, 2022, at 3:40 p.m. ET, conducted virtually. Presentations will be accessible on the company’s website for 30 days post-event. Sutro is known for pioneering antibody drug conjugates and currently has two ADCs in clinical trials.

Sutro Biopharma (NASDAQ: STRO) reported a revenue of $25.1 million for Q3 2022, up from $8.5 million the previous year, primarily due to collaboration payments. Cash reserves totaled $287.3 million, providing a runway into H1 2024. Key highlights include the acceptance of STRO-002 data for presentation at ASH 2022 and ongoing clinical studies for other assets. The company expects to release additional data on STRO-002's efficacy in late 2022, underlining the potential for accelerated FDA approval in ovarian cancer.

Sutro Biopharma announced promising results from its compassionate use program for STRO-002, an antibody drug conjugate targeting acute myeloid leukemia (AML) in children. Data will be shared at the 64th American Society of Hematology Annual Meeting on December 10, 2022. Highlights included significant anti-leukemic activity and a number of complete responses among patients with a rare form of AML, typically resistant to standard treatments. CEO Bill Newell expressed optimism about STRO-002's potential impact in pediatric oncology.

Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage oncology company, announced that CEO Bill Newell will present at two upcoming investor conferences. The first is the Credit Suisse 31st Annual Healthcare Conference on November 9, 2022, at 11:35 a.m. ET in Rancho Palos Verdes, CA. The second is the Jefferies London Healthcare Conference on November 17, 2022, at 12:55 p.m. GMT in London. Presentations will be accessible on the company’s website, with archived replays available for 30 days post-event.

Sutro Biopharma (NASDAQ: STRO) announced that Chief Medical Officer, Arturo Molina, will leave the company effective November 4, 2022, to pursue other opportunities. CEO Bill Newell will oversee clinical activities in the interim while the search for a new CMO continues. Sutro's pipeline includes six clinical-stage product candidates, with a focus on STRO-002, aimed at advanced ovarian cancer, highlighting an active development strategy despite the leadership change.

Sutro Biopharma, a clinical-stage oncology company, announced its CEO Bill Newell will present at the 2022 Wells Fargo Healthcare Conference on September 9, 2022, at 10:25 a.m. ET in Boston. The presentation can be accessed via the Investor Relations section of their website, with an archived replay available for 30 days following the event. Sutro is focused on developing innovative antibody drug conjugates (ADCs), including STRO-002 for ovarian and endometrial cancers and STRO-001 for B-cell malignancies, alongside collaborations with major pharmaceutical companies.

Sutro Biopharma (NASDAQ: STRO) announced on August 16, 2022, that its Compensation Committee granted 63,000 Restricted Stock Units (RSUs) to three new employees as an inducement for their employment. The RSUs will vest over four years, with 25% vesting annually, contingent upon continued service. Sutro specializes in developing antibody drug conjugates for oncology and is advancing multiple clinical-stage products, including STRO-002 and STRO-001, targeting various cancers. The grants were in accordance with Nasdaq Listing Rule 5635(c)(4).

Sutro Biopharma, Inc. (NASDAQ: STRO) reported strong collaboration developments and financial results for Q2 2022. A partnership with Astellas involves $90 million upfront and potential milestones worth $422.5 million per product. The company received a $10 million milestone payment from Merck after dosing the first patient in a Phase 1 study. Sutro's cash and equivalents stand at $191.6 million, expected to fund operations into H1 2024. Though revenues slightly increased to $28.1 million, operating expenses rose to $47.5 million, impacted by higher R&D costs. Discussions with the FDA suggest an accelerated approval pathway for STRO-002.