Business
Sutro Biopharma Reports Full Year 2021 Financial Results, Business Highlights, and Anticipated 2022 Milestones
- Promising STRO-002 initial data on Phase 1 dose-expansion cohort were reported in January 2022, providing initial insights on a go-forward dosing regimen
About this update from Sutro Biopharma, Inc.
[{"type":"text","content":"- Promising STRO-002 initial data on Phase 1 dose-expansion cohort were reported in January 2022, providing initial insights on a go-forward dosing regimen and biomarker enrichment strategy -\n - Cash, cash equivalents and marketable securities totaled $229.5 million as of December 31, 2021, with projected cash runway into the second half of 2023 -\n\n\n SOUTH SAN FRANCISCO, Calif., Feb. 28, 2022 /PRNewswire/ -- 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 full year 2021, its recent business highlights, and a preview of anticipated select milestones in 2022.\n\"We are proud of the achievements at Sutro, as our proprietary cell-free platform has enabled five clinical-stage product candidates, including our internal programs, STRO-002 and STRO-001, and our collaborator programs, CC-99712, M1231, and VAX-24,\" said Bill Newell, Sutro's Chief Executive Officer. \"We've made significant strides in the development of STRO-002 for ovarian cancer by completing the enrollment of the Phase 1 trial late last year. We intend to work with regulatory agencies on a registrational path forward for patients with ovarian cancer, utilizing our Fast Track Designation. Additionally, we are exploring the therapeutic benefit of STRO-002 in other tumor types. We are currently enrolling patients in an endometrial cohort and plan to initiate a NSCLC study later this year. We continue to explore all strategies to accelerate the development of STRO-002 to provide a potential new therapy for patients suffering from advanced cancers with limited durable treatment options.\" \nRecent Business Highlights and Anticipated 2022 Select Milestones\nSTRO-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 cancer and endometrial cancer. \nThe Phase 1 dose-expansion cohort for patients with advanced ovarian cancer was initiated in January 2021 and enrollment was completed in November 2021. Sutro reported initial data for the dose-expansion cohort in January 2022 at a Company KOL Virtual Event, providing d...