Business
Sutro Biopharma Reports First Quarter 2023 Financial Results, Business Highlights and Select Anticipated Milestones
- Data from the Phase 1 dose-expansion study for luveltamab tazevibulin, or luvelta, for patients with advanced ovarian cancer will be featured as an oral
About this update from Sutro Biopharma, Inc.
[{"type":"text","content":"- Data from the Phase 1 dose-expansion study for luveltamab tazevibulin, or luvelta, for patients with advanced ovarian cancer will be featured as an oral presentation at ASCO 2023 - - As presented at AACR 2023, STRO-003 demonstrated potent anti-tumor activity and immune-modulating properties in preclinical models, suggesting its potential to augment checkpoint blockade therapy - - As of March 31, 2023, Sutro had cash and investments of $251.5 million and shares of Vaxcyte common stock valued at $25.0 million, which together provide a projected cash runway into the second half of 2024 - SOUTH SAN FRANCISCO, Calif., May 15, 2023 (GLOBE NEWSWIRE) -- Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today reported its financial results for the first quarter of 2023, its recent business highlights, and a preview of select anticipated milestones. “We’ve had a strong start to the year with the continued advancement of our pipeline,” said Bill Newell, Sutro’s Chief Executive Officer. “As we look toward the rest of the year, we are excited for the imminent initiation of REFRaME, our registration-directed trial for luveltamab tazevibulin, or luvelta, in the second quarter of 2023, in addition to the data readout from our ongoing dose expansion Cohort C in ovarian cancer anticipated in the second half of 2023. We will seek to build on the positive momentum from this quarter to deliver on our goal to provide transformational therapies to cancer patients.” Recent Business Highlights and Select Anticipated Milestones STRO-002, International Nonproprietary Name, “luveltamab tazevibulin,” abbreviated as “luvelta”, FolRα-Targeting ADC: Luveltamab tazevibulin (luvelta) is being studied in the clinic, in the U.S. and Europe, for patients with ovarian and endometrial cancers. Data from the Phase 1 dose expansion study will be featured as an oral presentation at the 2023 American Society of Clinical Oncology (ASCO 2023) Annual Meeting in Chicago, IL in June 2023. Presentation Title: Luveltamab Tazevibulin (STRO-002), an anti-Folate Receptor alpha (FolRα) Antibody Drug Conjugate (ADC), Safety and Efficacy in a Broad Distribution of FOLRα Expression in Patients with Recurrent Epithelial Ovarian Cancer (OC): Update of STRO-002-GM1 Ph...