Welcome to our dedicated page for Sutro Biopharma news (Ticker: STRO), a resource for investors and traders seeking the latest updates and insights on Sutro Biopharma stock.
Sutro Biopharma, Inc. (NASDAQ: STRO) is a clinical-stage biopharmaceutical company based in South San Francisco, focused on the discovery, development, and manufacturing of next-generation cancer therapeutics. The company leverages its proprietary cell-free protein synthesis platform, XpressCF®, to produce novel antibody-drug conjugates (ADCs) and bispecific antibodies that target cancer cells with precision, aiming to offer improved safety and efficacy over traditional treatments.
Key products in Sutro's pipeline include STRO-001, designed for patients with multiple myeloma and non-Hodgkin lymphoma, and STRO-002 (also known as luveltamab tazevibulin or 'luvelta') for the treatment of ovarian and endometrial cancers. The company has recently initiated Phase 2/3 clinical trials for luvelta in platinum-resistant ovarian cancer (PROC) and is progressing towards trials for endometrial cancer. Sutro is also exploring additional indications, including non-small cell lung cancer and a rare pediatric form of acute myeloid leukemia (AML).
Recent achievements include the appointment of Dr. Hans-Peter Gerber as Chief Scientific Officer and the presentation of promising preliminary data for luvelta in endometrial cancer at ESMO 2023. Financially, Sutro reported cash and investments totaling $321.1 million and an additional $34.0 million in Vaxcyte common stock as of September 30, 2023, providing a projected cash runway into the first half of 2025.
Sutro's innovative approach is not limited to its product pipeline. The company operates the world's only cGMP cell-free manufacturing facility in San Carlos, California, giving it a strategic advantage in the biopharmaceutical industry. Sutro's numerous partnerships and collaborations have generated about $785 million in payments through September 2023, reflecting the significant value of its platform.
Sutro continues to build a robust pipeline and high-value collaborations, including recent partnerships with healthcare-focused institutional investors. The company has a strong financial outlook and a growing portfolio of clinical-stage candidates aimed at transforming cancer treatment. For more information, visit Sutro Biopharma.
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.
Sutro Biopharma (NASDAQ: STRO) appointed Jane Chung as Chief Commercial Officer, effective August 9, 2021. With over 20 years in the pharmaceutical sector, including as President of AstraZeneca Canada, Chung will lead Sutro's commercial strategy, focusing on oncology communities as the company progresses its clinical programs, including STRO-001 and STRO-002. Sutro also granted Chung 75,000 restricted stock units and 160,000 stock options under its 2021 Equity Inducement Plan. The company aims to transform cancer treatment using its innovative technologies.
Sutro Biopharma (NASDAQ: STRO) announced CEO Bill Newell's participation in the panel "ADCs – Take Me to Your Tumor" at the 12th Annual Wedbush PacGrow Healthcare Virtual Conference on August 11, 2021, at 2:20 p.m. ET. A live webcast will be available on the company's website, along with archived replays for 30 days. Sutro focuses on precise protein engineering for next-generation cancer therapies, with candidates like STRO-001 and STRO-002, currently in clinical trials. The company is committed to improving cancer treatments through innovative drug design.
Sutro Biopharma (NASDAQ: STRO) announced CEO Bill Newell will participate in two virtual investor conferences in June 2021. The details are as follows:
- JMP Securities Life Sciences Conference: June 17, 2021, at 3:30 p.m. ET.
- Raymond James Human Health Innovations Conference: June 23, 2021, at 10:40 a.m. ET.
Access live webcasts on the company's website. Sutro focuses on developing next-generation cancer and autoimmune therapeutics through its proprietary XpressCF® platform.
Sutro Biopharma (NASDAQ: STRO) has received a milestone payment from Merck KGaA for achieving patient enrollment in a Phase 1 study of its investigational bispecific antibody-drug conjugate (ADC), M1231, targeting metastatic solid tumors, including non-small cell lung cancer. Sutro's CEO emphasizes this achievement highlights their collaboration's strength in addressing cancer unmet needs. Sutro is responsible for manufacturing the ADC, and will earn tiered royalties on future sales. M1231 represents Sutro's commitment to developing innovative cancer therapies.
Sutro Biopharma (NASDAQ: STRO) announced new data from the Phase 1 study of STRO-002, an antibody-drug conjugate for patients with advanced ovarian cancer. The study involved 39 patients and reported a median progression-free survival of 7.2 months and a median duration of response of 5.8 months among confirmed responders. High percentages of adverse events were manageable, with neutropenia being the most prominent. The promising data will be showcased at the ASCO 2021 Annual Meeting from June 4-8, 2021, indicating potential for STRO-002 as a new treatment option in ovarian cancer.
Sutro Biopharma (NASDAQ: STRO) announced that CEO Bill Newell will present at two virtual investor conferences on May 20 and June 2, 2021. The first event, Cowen's 2nd Annual Virtual Oncology Innovation Summit, features a fireside chat at 2:40 p.m. ET. The second, Jefferies Healthcare Conference, will include a company presentation at 4:30 p.m. ET. Live webcasts will be available on Sutro's website, with archives accessible for about 30 days. Sutro focuses on developing next-generation cancer therapeutics using innovative protein engineering technologies.
Sutro Biopharma (NASDAQ: STRO) reported Q1 2021 financial results, showcasing a revenue increase to $14.7 million from $7.2 million year-over-year, largely due to collaborations with Merck, BMS, and EMD Serono. However, operating expenses rose to $33.7 million from $26.3 million in the same quarter. Cash reserves as of March 31, 2021, stood at $294.9 million, projected to last into the second half of 2023. The company is advancing clinical trials for STRO-002 and other candidates, with significant data releases expected during 2021.
Sutro Biopharma (NASDAQ: STRO) has promoted Trevor Hallam, Ph.D., from Chief Scientific Officer to President of Research, while retaining his CSO position. Hallam has over 35 years of experience in drug discovery and has been with Sutro for over a decade, playing a pivotal role in advancing the company's cell-free protein synthesis platform. Sutro's platforms led to the development of multiple antibody-drug conjugates (ADCs), including STRO-001 and STRO-002. The company aims to expand its research initiatives under Hallam's leadership to maximize the potential of its proprietary technologies.
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