Business
Sutro Biopharma Reports Second Quarter 2019 Financial Results and Recent Business Highlights and Developments
SOUTH SAN FRANCISCO, Calif., Aug. 14, 2019 /PRNewswire/ -- Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage drug discovery, development and
About this update from Sutro Biopharma, Inc.
[{"type":"text","content":"SOUTH SAN FRANCISCO, Calif., Aug. 14, 2019 /PRNewswire/ -- Sutro Biopharma, Inc. (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 oncology therapeutics, today reported its financial results for the three and six months ended June 30, 2019.\n\"During the second quarter of 2019, we presented encouraging interim safety data from our Phase 1 trial for STRO-001 at the EHA Congress and continued to advance our pipeline of product candidates and programs,\" said Bill Newell, Sutro's Chief Executive Officer. \"We believe our proprietary technology allows us to rapidly and precisely create optimally designed, next-generation protein therapeutics candidates for cancer and autoimmune disorders. At Sutro, we hold ourselves to the highest standards and set ambitious goals for ourselves which we have been meeting and exceeding.\" \nRecent Business Highlights and Developments\nSTRO-001 Clinical Program\nPotential first-in-class and best-in-class Antibody Drug Conjugate (\"ADC\") directed against CD74, which is highly expressed in many B cell malignancies Phase 1 dose-escalation, with dose expansion, clinical trial enrolling patients with multiple myeloma and non-Hodgkin lymphoma, with initial safety data presented at the EHA Congress on June 15, 2019 and initial efficacy data expected by year end 2019STRO-002 Clinical Program\nPotential best-in-class ADC directed against folate receptor-alpha, which is highly expressed in ovarian cancer Phase 1 dose-escalation, with dose expansion, clinical trial enrolling women with advanced ovarian and endometrial cancers, with initial safety data expected by year end 2019BCMA ADC Clinical Program and Celgene Collaboration\nCelgene received FDA clearance on its IND application for an ADC targeting B-cell maturation antigen (\"BCMA\") for the treatment of multiple myeloma. This is the third product candidate to originate from Sutro's proprietary discovery and manufacturing platform to enter clinical development since early 2018, and for which Celgene has worldwide development and commercialization rights. Sutro is entitled to development and regulatory milestone payments and tiered royalties ranging from mid to high single digit percentages from Celgene for this BCMA AD...