Sutro Biopharma, Inc. - STRO STOCK NEWS

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.

Sutro Biopharma (NASDAQ: STRO) announced that CEO Bill Newell will present at the 21st Annual Needham Virtual Healthcare Conference on April 14, 2022, at 3:00 p.m. ET. The presentation will be available on the company's website. Sutro focuses on next-generation cancer therapeutics through protein engineering. It has developed STRO-001 and STRO-002, targeting advanced B-cell malignancies and ovarian/endometrial cancers, respectively. Both candidates have received FDA designations to expedite development. Sutro is committed to transforming cancer treatment by creating medicines for unmet medical needs.

Sutro Biopharma (NASDAQ: STRO) announced advancements in its novel immunostimulatory antibody-drug conjugate (iADC) modality at the 12th Annual World ADC conference held in London from March 29 to April 1, 2022. This innovative approach uses a dual mechanism to target tumors, leveraging a cytotoxic warhead and a toll-like receptor (TLR) agonist to activate the immune system. Presentations featured data on STRO-002, aimed at treating ovarian and endometrial cancers, which has received Fast Track designation from the FDA. Sutro aims to develop therapies that address unmet needs in oncology.

Sutro Biopharma (NASDAQ: STRO) announced that CEO Bill Newell will participate in the Ovarian Cancer Panel at the Cowen 42nd Annual Healthcare Conference on March 9, 2022, at 12:50 p.m. ET. A live webcast can be accessed on the company's website, with a replay available for 30 days. Sutro is focused on cancer therapeutics through its platforms XpressCF® and XpressCF+™, which led to drug candidates like STRO-001 and STRO-002, both in clinical trials with FDA designations. Sutro is dedicated to improving cancer treatment for patients.

Sutro Biopharma (STRO) reported a strong performance for 2021, with revenue increasing to $61.9 million from $42.7 million in 2020, driven by collaborations with Merck, BMS, and EMD Serono. The company is advancing its lead candidate, STRO-002, which targets ovarian cancer, completing its Phase 1 trial enrollment and planning a registrational path forward. However, operating expenses rose to $160.4 million, up from $113.8 million, partly due to stock-based compensation. Sutro's cash reserves stood at $229.5 million, providing runway into late 2023.

Sutro Biopharma (NASDAQ: STRO), a clinical-stage company based in South San Francisco, announced that CEO Bill Newell will present at the 40th Annual J.P. Morgan Healthcare Conference on January 13, 2022, at 11:15 a.m. ET. The live presentation will be available via webcast on the company's website. Sutro focuses on advanced oncology therapeutics, using its XpressCF® platform to develop candidates like STRO-001 and STRO-002, currently in clinical trials for B-cell malignancies and ovarian cancer, respectively.

Sutro Biopharma (NASDAQ: STRO) announced interim results from its Phase 1 study of STRO-002, a folate receptor alpha-targeting ADC for advanced ovarian cancer. The study, involving 44 patients with extensive prior treatments, reported an overall response rate (ORR) of 33%. Notably, patients starting at a 5.2 mg/kg dose level exhibited a 47% ORR. Encouraging safety signals included no new complications. Sutro plans to advance STRO-002 into further clinical phases, leveraging its Fast Track designation.