Business
Sutro Biopharma Reports Full Year 2022 Financial Results, Business Highlights and Select Anticipated Milestones
- Sutro plans to initiate a Phase 2/3 registration-directed study of luvelta for patients with platinum resistant ovarian cancer in the second quarter - - Dr.
About this update from Sutro Biopharma, Inc.
[{"type":"text","content":"- Sutro plans to initiate a Phase 2/3 registration-directed study of luvelta for patients with platinum resistant ovarian cancer in the second quarter - - Dr. Anne Borgman joined Sutro as Chief Medical Officer in February 2023 - - Sutro expanded its relationship with Vaxcyte through an option agreement for the development and manufacturing rights for cell-free extract - - As of year-end 2022, Sutro had cash and investments of $302.3 million and shares of Vaxcyte common stock valued at $32.0 million, which together provide a projected cash runway into the second half of 2024- SOUTH SAN FRANCISCO, Calif., March 30, 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 full year 2022, its recent business highlights, and a preview of select anticipated milestones. “In 2022, we achieved significant milestones in both our internal pipeline and strategic collaborations, while strengthening our management team with the appointment of Anne Borgman, M.D., as Chief Medical Officer,” said Bill Newell, Sutro’s Chief Executive Officer. “We are delighted with the recent data updates for our lead candidate, luvelta, in advanced ovarian cancer and rare pediatric AML, and are excited to progress it into a planned registration-directed study in ovarian cancer in the second quarter of this year. As we look to the future, we remain confident in our ability to drive value and deliver on our mission to develop next-generation therapies that have the potential to transform the lives of cancer patients.” Recent Business Highlights and Select Anticipated Milestones STRO-002, International Nonproprietary Name, “luveltamab tazevibulin” or abbreviated as “luvelta”, FolRα-Targeting ADC: Luvelta is being studied in the clinic, in the U.S. and Europe, for patients with ovarian and endometrial cancers. Sutro plans to initiate REFRaME, a Phase 2/3 registration-directed study for patients with platinum-resistant ovarian cancer, in the second quarter of 2023, as discussed with the U.S. Food and Drug Administration (FDA). Once results are collected on approximately 110 patients in the selected dose of the luvelta arm, Sutro plans to apply for accelerated approval based on overall re...