Sutro Biopharma, Inc. - STRO STOCK NEWS

Sutro Biopharma (NASDAQ: STRO) reported financial results for Q3 2021, highlighting a revenue drop to $8.5 million from $17.8 million in Q3 2020. Operating expenses surged to $43.2 million, reflecting increased R&D and G&A costs. Key developments include completed enrollment for the STRO-002 Phase 1 dose-expansion cohort targeting advanced ovarian cancer and ongoing dose escalation for STRO-001 in B-cell malignancies. Sutro has a cash runway into H2 2023, with substantial cash reserves of $254.2 million as of September 30, 2021.

Sutro Biopharma (NASDAQ: STRO), a clinical-stage drug development company, announced CEO Bill Newell will present at three virtual investor conferences in November 2021. The presentations include:

• Credit Suisse 30th Annual Healthcare Conference: Nov. 10, 2021, 4:20 p.m. EST
• Stifel Virtual Healthcare Conference: Nov. 15, 2021, 1:20 p.m. EST
• Jefferies London Healthcare Conference: Nov. 18, 2021, 3:00 a.m. EST

Live webcasts can be accessed via the company's website.

Sutro Biopharma and BioNova Pharmaceuticals have announced an option agreement for the development and commercialization of STRO-001, a CD74-targeting ADC, in Greater China. BioNova will pay Sutro an initial $4 million and potential milestone payments totaling up to $200 million. Sutro maintains global rights outside Greater China. The collaboration aims to address unmet medical needs in hematologic cancers, with BioNova committed to advancing STRO-001 through clinical development and regulatory approval. Sutro will receive tiered royalties based on sales in the region.

Sutro Biopharma (NASDAQ: STRO) announced on Sept 30, 2021, an extension of its research term for the cytokine derivative program with Merck for an additional two years, aimed at completing preclinical research for a second candidate. Sutro is eligible for up to $10 million from this extension. The collaboration leverages Sutro's proprietary protein engineering platforms, XpressCF® and XpressCF+™, and has previously resulted in milestone payments of $5 million and $15 million for earlier collaborations. The ongoing research could lead to innovative cancer treatments.

Sutro Biopharma announced on September 15, 2021, that its Compensation Committee granted restricted stock units (RSUs) of 150,000 shares and stock options for 145,000 shares to three new employees. These grants were part of an inducement to join Sutro and comply with Nasdaq rules. The RSUs will vest annually over four years, while stock options will vest annually and monthly thereafter, also over four years. Sutro specializes in developing next-generation cancer therapeutics through its protein engineering platforms, advancing multiple ADC candidates in clinical trials.

Sutro Biopharma (NASDAQ: STRO) announced the addition of two key executives, Nicole M. Chieffo and Werner Rubas, to its leadership team. Chieffo, with over 25 years in clinical operations, previously held senior roles at Janssen Pharmaceuticals, leading to successful drug approvals. Rubas brings 30 years of experience, most recently as Executive Director at Nektar Therapeutics. Chief Medical Officer Arturo Molina and President of Research Trevor Hallam highlighted the expertise these leaders bring to advance Sutro's pipeline. The company focuses on developing cancer therapeutics, including its ADCs STRO-001 and STRO-002.

Sutro Biopharma (NASDAQ: STRO) announced that CEO Bill Newell will participate in the 2021 Wells Fargo Securities Healthcare Conference via a virtual fireside chat on September 9 at 3:20 p.m. ET. A live webcast will be available on Sutro's website, with archived replays accessible for 30 days post-event.

Sutro specializes in precise protein engineering to develop innovative cancer therapeutics, with candidates like STRO-001 and STRO-002 in clinical trials.

Sutro Biopharma (NASDAQ: STRO) announced that the FDA has granted Fast Track designation for STRO-002, an antibody-drug conjugate targeting the folate receptor alpha, aimed at treating patients with platinum-resistant ovarian cancer. This designation allows for more frequent FDA interactions, potentially accelerating clinical development. Preliminary studies show promising activity and tolerability of STRO-002. The ongoing Phase 1 trial has completed dose escalation, with enrollment in the expansion cohort continuing in the US and Spain.

Sutro Biopharma (NASDAQ: STRO) reported its Q2 2021 financial results, showing revenue of $28 million, significantly up from $9.5 million in Q2 2020. Cash and equivalents totaled $283.4 million, down from $326.5 million at year-end 2020, with a runway projected into H2 2023. The company continues to make progress in ADC trials, particularly with STRO-002 for ovarian cancer. Notable partnerships include ongoing collaborations with Merck, Bristol Myers Squibb, and EMD Serono. Operating expenses rose to $37.9 million from $25.9 million year-over-year.