SOUTH SAN FRANCISCO, Calif., Feb. 10, 2026 (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 announced the pricing of an underwritten offering of 7,868,383 shares of its common stock at a price of $13.98 per share. The gross proceeds from this offering are expected to be approximately $110.0 million, before deducting underwriting discounts and commissions and othe ...

Core Viewpoint - Sutro Biopharma, Inc. (STRO) has experienced a significant stock price increase, attributed to positive investor sentiment regarding its oncology pipeline and upcoming earnings report [1][2]. Company Overview - Sutro Biopharma's stock closed at $15.8 after a 5.9% increase in the last trading session, with a notable trading volume [1]. - The company has a clinical-stage candidate, STRO-004, in phase I development for solid tumors, with two additional pre-clinical candidates expected to enter clinical evaluation in 2026 and 2027 [2]. Financial Expectations - The company is projected to report a quarterly loss of $4.66 per share, reflecting a year-over-year increase of 47.6%, while revenues are expected to be $9.08 million, down 35.2% from the previous year [3]. - The consensus EPS estimate for the upcoming quarter has been revised 3.7% higher over the last 30 days, indicating a positive trend that may lead to price appreciation [4]. Industry Context - Sutro Biopharma is part of the Zacks Medical - Biomedical and Genetics industry, where another company, Rhythm Pharmaceuticals, Inc. (RYTM), has seen a 3.3% increase in its stock price but has returned -8.7% over the past month [4]. - Rhythm Pharmaceuticals' consensus EPS estimate has changed by +3.5% over the past month, indicating a year-over-year change of -11.1% [5].

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Core Viewpoint - Sutro Biopharma is undergoing a strategic transformation to redefine its business model and accelerate its clinical pipeline, focusing on next-generation antibody-drug conjugates (ADCs) [2][3]. Group 1: Company Strategy - The company has made a strategic pivot, which includes rightsizing its team and extending its operational runway [2]. - Sutro aims to return to clinical trials with its tissue factor ADC within six months of the strategic pivot, indicating a rapid execution of its new strategy [2]. Group 2: Product Development - Sutro is committed to delivering differentiated ADC technology, which allows for the optimization of every component of an ADC, enhancing the uniqueness of its medicines [3]. - The company plans to advance several more programs into clinical trials this year and next, reinforcing its focus on clinical oncology [2].

Sutro Biopharma FY Conference Summary Company Overview - **Company**: Sutro Biopharma (NasdaqGM:STRO) - **Event**: FY Conference at J.P. Morgan Healthcare Conference - **Date**: January 15, 2026 - **Key Speakers**: Jane Chung (CEO), Jonathan Fossett (Head of Clinical Development) Core Industry and Company Insights Strategic Transformation - Sutro Biopharma has undergone a strategic pivot since March 2025, focusing on redefining its strategy, right-sizing its team, and accelerating its pipeline [2][3] - The company aims to deliver next-generation antibody-drug conjugates (ADCs) and has extended its cash runway to mid-2027, allowing for further development and clinical trials [3][39] ADC Technology and Pipeline - Sutro's ADC technology allows for the optimization of every component, including antibodies, linkers, and payloads, leading to differentiated medicines [3][9] - The company plans to deliver three Investigational New Drug (IND) applications over the next three years, with multiple programs in parallel [3][4] Clinical Programs - **Stro4**: A Tissue Factor ADC currently in clinical trials, showing a high safety window with a highest non-severely toxic dose (HNSTD) of 50 mg/kg [5][6] - **Stro6**: An integrin beta-6 targeting ADC, expected to enter IND later this year [6][14] - **Dual Payload ADCs**: The first dual payload program targeting PTK7 is anticipated to enter the clinic by late 2026 or early 2027, with a focus on overcoming resistance and improving safety and efficacy [7][19] Safety and Efficacy - Sutro's ADCs are designed to minimize toxicity while maximizing therapeutic exposure, with preclinical data showing a 50-fold higher exposure than existing ADCs [11][36] - The dual payload approach aims to deliver combination therapies in a targeted manner, addressing the unmet needs in cancer treatment [15][16] Financial and Operational Highlights Cash Runway and Cost Management - Sutro has reduced its team and expenses by two-thirds to streamline operations while maintaining a focus on clinical validation [39] - The current cash runway does not include collaboration milestones from partners like Astellas, which could further extend operational capacity [40] Market Opportunities - The company is exploring multiple tumor types for its Tissue Factor ADC, including lung, colorectal, and pancreatic cancers, which present larger clinical unmet needs compared to cervical cancer [42][43] - Sutro is also considering partnerships to enhance its development capabilities and resource management [41] Additional Considerations Competitive Landscape - Sutro's ability to fine-tune payload ratios in dual payload ADCs sets it apart from competitors, which often use simpler one-to-one ratios [32][33] - The company is aware of the challenges posed by overlapping toxicities in combination therapies and is actively working to mitigate these risks [35] Future Directions - Sutro is committed to advancing its ADC pipeline and exploring innovative combinations to enhance treatment efficacy while ensuring patient safety [23][37] - The company is optimistic about its collaborations and the potential for its next-generation ADCs to significantly impact cancer treatment [22][23] This summary encapsulates the key points from Sutro Biopharma's FY Conference, highlighting the company's strategic direction, technological advancements, clinical programs, and financial management.

Pipeline and Milestones - Sutro is developing a differentiated pipeline of single- and dual-payload ADCs, focusing on complex targets and overcoming resistance [12, 13] - Initial Phase 1 data for STRO-004, a Tissue Factor (TF)-targeting ADC, is expected in mid-2026 [12, 59] - An IND submission for STRO-006, an ITGB6-targeting ADC, is expected in 2026 [12, 59] - An IND submission for STRO-227, a PTK7-targeting dual-payload ADC, is expected in 2026-2027 [13, 50, 59] - The first immunostimulatory ADC (iADC) program is expected to enter the clinic in early 2026 [56, 59] STRO-004 (TF-Targeting ADC) - STRO-004 demonstrated promising anti-tumor activity in multiple TF-expressing cancer models, with a disease control rate (DCR) of 93% (28/30) and an overall response rate (ORR) of 73% (22/30) in PDX models [25] - STRO-004 is well-tolerated at 50 mg/kg in non-human primates (NHPs) [12] STRO-006 (ITGB6-Targeting ADC) - STRO-006 is designed for superior selectivity, safety, and stability, targeting ITGB6 [32] - In HNSCC PDX models, STRO-006 at 5 mg/kg showed superior anti-tumor activity compared to aITGB6 ADC (DAR4 MMAE) at 5 mg/kg, with an ORR of 71% (12/17) vs 47% (8/17) [37] - In HNSCC PDX models, STRO-006 showed ADC response (below baseline) at end of study 64% (7/11) vs aITGB6 DAR4 MMAE 27% (3/11) [38] Dual-Payload ADCs - Dual-payload ADCs have the potential to overcome resistance resulting from conventional ADCs and reduce toxicity compared to ADC combination approaches [44]

Core Insights - Sutro Biopharma, Inc. is a clinical-stage oncology company focused on developing site-specific and novel-format antibody drug conjugates (ADCs) [1][3] - The company will present at the 44th Annual J.P. Morgan Healthcare Conference on January 15, 2026, at 11:15 AM PT / 2:15 PM ET [1] Company Overview - Sutro Biopharma is advancing a next-generation ADC platform that aims to deliver single- and dual-payload ADCs for cancer treatment [3] - The company's technology optimizes the antibody, linker, and payload to enhance drug exposure, minimize side effects, and broaden the range of treatable tumor types [3] - Sutro's pipeline targets large oncology markets with limited treatment options, addressing significant needs for improved therapies [3]

Core Insights - Sutro Biopharma, Inc. has regained compliance with Nasdaq's minimum share price requirement following a reverse stock split [1][2] Company Overview - Sutro Biopharma is a clinical-stage oncology company focused on developing site-specific and novel-format antibody drug conjugates (ADCs) [1][3] - The company aims to deliver single- and dual-payload ADCs to improve drug exposure, reduce side effects, and expand treatable tumor types [3] - Sutro's pipeline targets large oncology markets with significant unmet needs for improved therapies [3] Compliance with Nasdaq - As of December 16, 2025, Sutro's common stock maintained an average closing share price of at least $1.00 after a 1:10 reverse stock split effective December 3, 2025 [2] - The company is no longer considered below the minimum bid price requirement under Nasdaq Rule 5450(a)(1) [2]

Core Insights - Sutro Biopharma, Inc. has granted stock options and restricted stock units to new non-executive employees as an inducement for their acceptance of employment [1][2] Group 1: Stock Options and RSUs - The Compensation Committee granted stock options to purchase 24,500 shares and 2,000 RSUs [1] - The stock options will vest one-fourth on the one-year anniversary of the hire date and monthly thereafter until fully vested on the fourth anniversary [2] - The RSUs will vest one-fourth on the one-year anniversary of the hire date and annually thereafter until fully vested on the fourth anniversary [2] Group 2: Company Overview - Sutro Biopharma is focused on advancing a next-generation antibody-drug conjugate (ADC) platform aimed at improving cancer treatment [3] - The company’s platform is designed to produce single- and dual-payload ADCs that enhance drug exposure, reduce side effects, and expand treatable tumor types [3] - Sutro's pipeline targets large oncology markets with limited treatment options, addressing significant needs for improved therapies [3]

Sutro Biopharma FY Conference Summary Company Overview - **Company**: Sutro Biopharma (NasdaqGM:STRO) - **Focus**: Development of next-generation antibodies using the ExpressCF cell-free platform - **Recent Developments**: Plans to file three Investigational New Drug (IND) applications over the next three years, with one already filed for STRO-004, a tissue factor antibody-drug conjugate (ADC) currently in clinical trials [1][2] Key Points and Arguments Platform and Technology - **ExpressCF Platform**: Enables the production of ADCs with drug exposure two to three times higher than conventional ADCs by optimizing components such as the antibody, linker, and payload [4] - **Site-Specific Conjugation**: Utilizes non-natural amino acids for improved performance and safety of ADCs [4][10] Pipeline and Clinical Trials - **STRO-004**: - Currently in Phase 1 clinical trials, designed to target tissue factor with a focus on safety and efficacy [8][10] - Features a DAR8 exatecan payload, showing enhanced anti-tumor activity at lower doses compared to DAR4 [9] - High non-severely toxic dose (HNSTD) of 50 mg/kg, indicating a strong safety profile [10] - Enrollment for the trial is progressing rapidly, with expectations for top-line data by mid-next year [15] Market Opportunities - **Expansion Beyond Cervical Cancer**: While STRO-004 is initially targeting cervical cancer, there are plans to explore its efficacy in other cancers such as pancreatic, lung, head and neck, and colorectal [19] - **Integrin Beta-6 ADC (STRO-006)**: Targeting a validated cancer marker with plans for IND submission next year [22][24] Dual Payload ADCs - **Innovative Approach**: Combines two different cytotoxic payloads to enhance efficacy and potentially reduce toxicity, addressing resistance issues seen in single-agent therapies [25][30] - **STRO-227**: Targets PTK7, with a focus on cancer stem cells, aiming for a best-in-class profile [27][29] Collaborations and Partnerships - **Astellas Partnership**: Developing immunostimulatory ADCs that combine cytotoxic agents with immune-activating components, expected to enter clinical trials early next year [33] Financial Position - **Cash Runway**: Ended Q3 with approximately $168 million, extending the runway into mid-2027, allowing for further program validation and potential business development opportunities [34][35] Additional Insights - **Clinical Relationships**: Emphasis on building strong relationships with investigators to facilitate rapid enrollment and execution of clinical trials [13][17] - **Transformative Year**: 2025 marked a significant transformation for Sutro, with a return to clinical trials and multiple programs expected to enter the clinic next year [35] This summary encapsulates the critical developments and strategic direction of Sutro Biopharma, highlighting its innovative approaches in the ADC space and the potential for significant market impact.