Business
Sutro Biopharma Reports First Quarter 2022 Financial Results, Business Highlights, and Anticipated Milestones
- Cash, cash equivalents and marketable securities totaled $192.1 million as of March 31, 2022, with projected cash runway into the second half of 2023 - -
About this update from Sutro Biopharma, Inc.
[{"type":"text","content":"- Cash, cash equivalents and marketable securities totaled $192.1 million as of March 31, 2022, with projected cash runway into the second half of 2023 - - Meetings with regulatory agencies for STRO-002 are planned for mid-year 2022 and near-final dose expansion data are expected in the second half of 2022 - - First patient was dosed in the STRO-002 bevacizumab combination trial and the endometrial cohort continues to enroll patients - SOUTH SAN FRANCISCO, Calif., May 09, 2022 (GLOBE NEWSWIRE) -- Sutro Biopharma, Inc. (“Sutro” or the “Company”) (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company focused on the application of precise protein engineering and rational design to create next-generation cancer therapeutics, today reported its financial results for the quarter ended March 31, 2022, its recent business highlights, and a preview of anticipated select milestones. “Sutro remains steadfastly dedicated to advancing next generation cancer therapeutics by leveraging the advantages of our proprietary platform,” said Bill Newell, Sutro’s Chief Executive Officer. “We are pleased with the progress of our lead program, STRO-002, a FolRα-targeting antibody-drug conjugate. Our top priority is charting the course for a potential registrational trial for patients with advanced ovarian cancer. We are also expanding our clinical studies into endometrial cancer and have plans for non-gynecological indications, including NSCLC, to explore the possibility of treatment with STRO-002 for people who suffer from these debilitating cancers and have limited available treatment options.” Recent Business Highlights and Anticipated Select Milestones STRO-002, FolRα-Targeting Antibody-Drug Conjugate (ADC): STRO-002 is being studied in the clinic, in both the United States and Europe, for patients with ovarian and endometrial cancers. The Phase 1 dose-expansion cohort for patients with advanced ovarian cancer has completed enrollment and is ongoing. Sutro expects to report additional data on efficacy, safety, and durability from the dose-expansion cohort in the second half of 2022.Regulatory discussions on a potential registrational study for patients with advanced ovarian cancer are planned for mid-year 2022.The STRO-002 study in combination with bevacizumab for patients with advanced ovarian cancer is ongoing and t...