KØBENHAVN, Danmark, 17. december 2025 – Bavarian Nordic offentliggjorde i dag, at bestyrelsen, efter den nylige udnævnelse af Anne Louise Eberhard som ny formand for bestyrelsen og i overensstemmelse med selskabets vedtægter, har konstitueret sig og udnævnt Heidi Hunter som ny næstformand. Heidi Hunter har været medlem af bestyrelsen siden 2023. Hun har mere end 25 års erfaring i branchen og har arbejdet på tværs af den farmaceutiske værdikæde – fra klinisk og kommerciel udvikling til lancering. Hun har tid ...

Company Overview - CorMedix (CRMD) shares increased by 21.7% to $16.56 in the last trading session, with a higher-than-average trading volume [1] - The stock has gained 10.1% over the past four weeks [1] Product Development - CorMedix announced that a major Large Dialysis Organization customer will start ordering and implementing DefenCath for patient use in the second half of 2025 [2] - DefenCath is the company's sole marketed product, approved by the FDA in November 2023 as the first catheter lock solution [2] - The rollout will target at least 50% more patients than previously planned, leading to an amended agreement reflecting increased product use [2] Financial Performance - CorMedix raised its second-quarter net sales guidance to $35–$40 million, up from $31 million, which has fueled investor optimism [2] - The company is expected to report quarterly earnings of $0.15 per share, representing a year-over-year change of +160% [3] - Revenues are expected to be $30.31 million, up 3641.4% from the year-ago quarter [3] Earnings Estimates - The consensus EPS estimate for CorMedix has remained unchanged over the last 30 days [4] - A stock's price typically does not continue to rise without trends in earnings estimate revisions [4] Industry Context - CorMedix is part of the Zacks Medical - Biomedical and Genetics industry [5] - Another company in the same industry, Sutro Biopharma, Inc. (STRO), finished the last trading session down 0.3% at $0.8 and has returned -13% over the past month [5] - Sutro Biopharma's consensus EPS estimate has changed +2.6% over the past month to -$0.43, representing a change of +27.1% from the previous year [6]

Core Viewpoint - Sutro Biopharma is prioritizing its antibody-drug conjugates (ADC) pipeline while undergoing significant restructuring, including workforce reduction and deprioritization of certain drug developments [1][2]. Financial Performance - The company reported a loss of $2.96 per share for 2024, an increase from a loss of $1.78 the previous year, and missed the consensus estimate of $2.92 [4]. - Sales for 2024 were $62.04 million, exceeding the consensus of $59 million, but down from $153.7 million a year ago, primarily driven by collaborations with Astellas and Tasly [4]. Strategic Changes - Sutro plans to cease operations at its San Carlos manufacturing facility by the end of 2025 and is reducing its workforce by nearly 50% [2]. - The company has deprioritized further investment in Luveltamab tazevibulin (luvelta, STRO-002) across all indications and is exploring global out-licensing opportunities for this drug [2]. Cash Position and Runway - As of December 31, 2024, Sutro had $316.9 million in cash, cash equivalents, and marketable securities [2]. - The company estimates that cash payments from its strategic portfolio review and related restructuring will be between $40 to $45 million, providing a cash runway into at least the fourth quarter of 2026, excluding anticipated milestones from existing collaborations [3]. Pipeline Developments - Sutro's ADC targeting Tissue Factor, STRO-004, is expected to enter clinical trials in the second half of 2025 [6]. - The differentiated integrin beta-6 ADC, STRO-006, is set to begin clinical development in 2026, targeting multiple solid tumors [6]. - An Investigational New Drug (IND) application for Sutro's first wholly-owned dual-payload ADC is anticipated to be filed in 2027 [6]. Leadership Changes - Jane Chung, the current President and Chief Operating Officer, will take on the responsibilities of Chief Executive Officer and Board member immediately [4].

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Core Insights - Sutro Biopharma has completed a strategic portfolio review, prioritizing its next-generation antibody-drug conjugate (ADC) programs and announcing key management changes as part of the transition [1][7] Financial Highlights - As of December 31, 2024, Sutro reported cash, cash equivalents, and marketable securities totaling $316.9 million, down from $388.3 million as of September 30, 2024, with a cash runway expected into at least Q4 2026, excluding anticipated milestones from existing collaborations [2] - Revenue for the year ended December 31, 2024, was $62.0 million, a significant decrease from $153.7 million in 2023, primarily due to the Astellas collaboration and the Tasly agreement [3] - Total operating expenses for 2024 were $300.5 million, compared to $243.0 million in 2023, with research and development expenses accounting for $252.0 million and general and administrative expenses at $48.5 million [4][11] Restructuring and Cost Management - The strategic portfolio review and related restructuring are expected to incur cash payments estimated between $40 million and $45 million, with anticipated cost reductions contributing to the cash runway extending into at least Q4 2026 [5] Conference Call - A conference call is scheduled for today at 2:00 p.m. PT / 5:00 p.m. ET to discuss the pipeline reprioritization, team restructuring, and next steps [1][6]

Core Insights - Sutro Biopharma is prioritizing its next-generation exatecan and dual-payload ADC programs while deprioritizing the development of luvelta, seeking a partner for its further development [1][2][3] - The company expects to file three INDs for its wholly-owned programs over the next three years, starting with STRO-004, a novel Tissue Factor ADC, anticipated to enter clinical trials in the second half of 2025 [1][6] - Jane Chung has been appointed as the new CEO, succeeding Bill Newell, who will remain available in an advisory role during the transition [4][5] Pipeline Priorities - The lead program is STRO-004, focusing on solid tumors, with an IND submission planned for the second half of 2025 [6] - Sutro is also advancing STRO-006, an integrin beta-6 ADC, expected to enter clinical development in 2026, and a dual-payload ADC program with an IND anticipated in 2027 [13] Organizational Changes - The company will reduce its headcount by nearly 50% as part of its restructuring efforts, with changes expected to be substantially complete by the end of 2025 [3][13] - Sutro plans to exit its internal GMP manufacturing facility by year-end 2025, having established external manufacturing capabilities [3][13] Financial Overview - As of December 31, 2024, Sutro reported cash, cash equivalents, and marketable securities totaling $316.9 million, providing a cash runway expected to last into at least Q4 2026, excluding anticipated milestones from existing collaborations [3][13] - The restructuring is estimated to incur cash payments of $40 to $45 million, but is expected to lead to significant cost reductions [13] Strategic Collaborations - Sutro remains committed to its existing collaborations, which have the potential to generate up to $2 billion in milestone payments, in addition to royalties [5][13]

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 TD Cowen 45th Annual Health Care Conference from March 3-5, 2025, in Boston, MA [1] - Sutro's technology, including cell-free XpressCF, aims to enhance patient benefits and experiences through precisely designed cancer therapeutics [3] Company Overview - Sutro Biopharma is headquartered in South San Francisco and is dedicated to the discovery and development of cancer therapeutics [3] - The company has multiple clinical-stage candidates, including luveltamab tazevibulin (luvelta), which is a registrational-stage ADC targeting folate receptor alpha (FolRα) [3] - Sutro's robust pipeline and high-value collaborations validate its continuous product innovation [3] Investor Relations - The presentation at the conference will be accessible through the company's Investor Relations section on its website, with an archived replay available for at least 30 days post-event [2]