Sutro Biopharma, Inc. - STRO STOCK NEWS

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.

Sutro Biopharma (NASDAQ: STRO) announced on April 26, 2022, that it granted 155,000 stock options and 18,000 Restricted Stock Units (RSUs) to two new employees. These inducement grants, made per Nasdaq Listing Rule 5635(c)(4), aim to attract talent. The RSUs vest over four years, while stock options vest similarly but monthly after the first year. Sutro, a clinical-stage company, leverages its proprietary platforms to develop next-generation cancer therapeutics like STRO-001 and STRO-002, which have received FDA designations for their clinical trials.

Sutro Biopharma, Inc. (NASDAQ: STRO) announced new nonclinical data on its folate receptor alpha-targeting antibody-drug conjugate STRO-002 at the AACR Annual Meeting 2022. Currently in Phase 1 clinical trials for ovarian and endometrial cancers, STRO-002 demonstrated significant anti-tumor immunity through in vitro studies inducing immunogenic cell death. In vivo studies revealed enhanced efficacy in combination with checkpoint inhibitors and anti-VEGF antibodies. The data highlights STRO-002's potential for targeting FolRα-expressing tumors and its promising role in non-small cell lung cancer.