Sutro Biopharma, Inc. - STRO STOCK NEWS

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.

Sutro Biopharma, Inc. (NASDAQ: STRO) announced that CEO Bill Newell will present at the 2022 Wedbush PacGrow Healthcare Conference on August 10, 2022, at 2:20 p.m. ET. The discussion will focus on antibody drug conjugates (ADCs), a key area of Sutro's innovation in oncology. The presentation will be accessible on the company's Investor Relations page, with an archived replay available for 30 days post-event. Sutro's pipeline includes two ADCs in clinical trials, STRO-002 for ovarian and endometrial cancers and STRO-001 for B-cell malignancies.

Sutro Biopharma (NASDAQ: STRO) announced that the first patient has been dosed in a Phase 1 study of a novel therapeutic candidate developed in collaboration with Merck. This milestone triggers a $10 million payment from Merck to Sutro. The investigational drug is designed for cancer treatment, leveraging Sutro's proprietary platforms for biologics. Sutro is also advancing other ADCs in clinical trials, targeting various cancers. CEO Bill Newell emphasized the synergy between Sutro and Merck in advancing immuno-oncology therapies.

Sutro Biopharma (NASDAQ: STRO) announced a virtual research forum set for July 20, 2022, at 4:30 PM ET, where it will unveil a new product candidate and discuss its immunostimulatory antibody-drug conjugates (iADCs). The company will also highlight enhancements to its cell-free manufacturing platform.

Sutro Biopharma is focused on developing antibody-drug conjugates (ADCs) targeting various cancers, with STRO-002 and STRO-001 currently in clinical studies.

Sutro Biopharma announced a strategic collaboration with Astellas Pharma focused on developing novel immunostimulatory antibody-drug conjugates (iADCs) for cancer treatment. The partnership aims to address the limitations of existing therapies, especially for cold tumors. Sutro will receive an upfront payment of $90 million and may be eligible for up to $422.5 million in milestone payments, along with royalties on sales. This collaboration leverages Sutro's advanced conjugation technology and Astellas' oncology R&D expertise to potentially enhance treatment options for patients who do not respond to current immunotherapies.

Astellas Pharma and Sutro Biopharma have entered a worldwide collaboration to develop immunostimulatory antibody-drug conjugates (iADCs), targeting cold tumors resistant to current therapies. Sutro will receive an upfront payment of US$90 million and could earn up to US$422.5 million in additional milestones per product. Astellas aims to enhance its oncology pipeline through this partnership, leveraging both companies' strengths in drug development and commercialization.

Sutro Biopharma (NASDAQ: STRO) announced the grant of stock options for 75,000 shares and 80,000 Restricted Stock Units (RSUs) to three new employees as an inducement for their employment. The Compensation Committee approved these grants on June 3, 2022, in accordance with Nasdaq rules. The RSUs will vest over four years, while the stock options will vest monthly after the first year. Sutro focuses on creating next-generation therapeutic solutions using its proprietary platforms, advancing several drug candidates in clinical trials for various cancers, including STRO-001 and STRO-002.

Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage drug discovery company, announces CEO Bill Newell's participation in two investor conferences. The Jefferies Healthcare Conference is on June 9, 2022, at 8:00 a.m. ET, in New York City, and the JMP Securities Life Sciences Conference will be held on June 16, 2022, at 9:30 a.m. ET. Both events will feature live webcasts accessible on Sutro's Investor Relations page, with archived replays available for 30 days post-event. Sutro focuses on developing next-generation cancer therapies using advanced protein engineering.

Sutro Biopharma reported Q1 2022 financial results, highlighting a cash position of $192.1 million with a projected cash runway into the second half of 2023. Revenue was $5.9 million, down from $14.7 million in Q1 2021, attributed to collaborations with Merck, BMS, and EMD Serono. Operating expenses rose to $45.0 million, compared to $33.7 million last year. Key milestones include ongoing trials for STRO-002 in advanced ovarian and endometrial cancers and plans for non-small cell lung cancer trials.