Business
Sutro Biopharma Reports Second Quarter 2021 Financial Results, Business Highlights and Anticipated Second Half 2021 Milestones
- Additional follow-up data on STRO-002 from the Phase 1 dose-escalation cohort were presented at ASCO June 2021; enrollment for the Phase 1 dose-expansion
About this update from Sutro Biopharma, Inc.
[{"type":"text","content":"- Additional follow-up data on STRO-002 from the Phase 1 dose-escalation cohort were presented at ASCO June 2021; enrollment for the Phase 1 dose-expansion cohort is ongoing\n - Milestone payment earned from Merck for initiation of IND-enabling study and from EMD Serono for Phase 1 patient enrollment achievement\n - Cash, cash equivalents and marketable securities of $283.4 million as of June 30, 2021 and projected cash runway into the second half of 2023\n\n\nSOUTH SAN FRANCISCO, Calif., Aug. 9, 2021 /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 cancer and autoimmune therapeutics, today reported its financial results for the quarter ended June 30, 2021, its recent business highlights, and provided a preview of anticipated selected milestones in the second half of 2021.\n\"Additional follow-up data from our STRO-002 dose-escalation data were presented at ASCO and these data continue to demonstrate meaningful clinical benefit for women with advanced ovarian cancer. Enrollment in the dose-expansion cohort is ongoing and we look forward to providing an update later this year,\" said Bill Newell, Sutro's Chief Executive Officer. \"Our ADC collaborations with Bristol Myers Squibb and EMD Serono continue to make progress in the clinic. We are also encouraged by the strength of the Merck cytokine collaboration, with the first product candidate in IND-enabling studies and additional potential product candidates under development. These high-value partnerships add to the breadth of Sutro's accomplishments in developing novel therapeutics to expand much-needed treatment options for cancer patients.\"\nRecent Business Highlights and Anticipated Second Half 2021 Milestones \nSTRO-002, FolRα-Targeting ADC: Enrollment continues in the Phase 1 dose-expansion cohort for patients with advanced ovarian cancer.\nThe dose-escalation cohort of the Phase 1 trial completed enrollment as of August 31, 2020, and updated data were reported in May 2021 and presented as a poster at the American Society of Clinical Oncology (ASCO) Virtual Annual Meeting in June 2021. The enrollment for the dose-expansion cohort of the Phase 1 trial is ongoing, with additional sites activated in...