Sutro Biopharma, Inc. (STRO) Bundle
A Brief History of Sutro Biopharma, Inc. (STRO)
Company Formation
Sutro Biopharma, Inc. was founded in 2003 by Dr. R. Scott Greer, Dr. J. Michael Bishop, and Dr. Jonathan S. Weissman. The company's headquarters are located in South San Francisco, California. Sutro focuses on the development of protein therapeutics using its proprietary cell-free protein synthesis platform.
Initial Funding and Growth
In 2014, Sutro Biopharma raised approximately $45 million in a Series B financing round led by Allergan. The total capital raised by the company by that time reached around $77 million.
Public Offering
Sutro Biopharma went public on the NASDAQ under the ticker symbol STRO in December 2019. The IPO raised approximately $102 million at a price of $16 per share.
Collaboration Agreements
In 2020, Sutro entered into a multi-year collaboration agreement with Merck focused on developing cancer therapies. This agreement included an upfront payment of $30 million and potential milestone payments totaling up to $690 million.
Clinical Trials and Product Pipeline
Sutro’s lead product candidate is STRO-001, an antibody-drug conjugate targeting CD74, which is currently in Phase 1 clinical trials. Furthermore, the company has multiple other candidates in various stages of development.
| Product Candidate | Target | Development Stage |
|---|---|---|
| STRO-001 | CD74 | Phase 1 |
| STRO-002 | FRα | Phase 1/2 |
| STRO-003 | BCMA | Preclinical |
Financial Performance
For the fiscal year ended December 31, 2022, Sutro Biopharma reported total revenue of $18.6 million and a net loss of $57.5 million. As of December 31, 2022, Sutro Biopharma held cash and cash equivalents of approximately $132.2 million.
Recent Developments
In August 2023, Sutro announced positive interim data from its ongoing clinical trials for STRO-001, showing an overall response rate of 70% in patients with relapsed or refractory lymphoma. In September 2023, the company completed a financing round of $50 million to assist with clinical trial operations and development expenses.
Market Position
As of October 2023, Sutro Biopharma's market capitalization is approximately $430 million. The company's stock price fluctuated between $8 and $25 throughout 2022, with a year-to-date high of $18.50 in 2023.
A Who Owns Sutro Biopharma, Inc. (STRO)
Company Overview
Sutro Biopharma, Inc. (STRO) is a clinical-stage biotechnology company focused on developing and commercializing a new class of antibody-drug conjugates (ADCs). As of the latest data, Sutro is publicly traded on the NASDAQ under the ticker symbol "STRO".
Shareholder Composition
The ownership of Sutro Biopharma consists of institutional investors, retail investors, and company insiders. As of October 2023, the following table outlines the distribution of ownership:
| Ownership Type | Percentage Ownership | Number of Shares Owned |
|---|---|---|
| Institutional Investors | 75.4% | 19,250,000 |
| Retail Investors | 18.7% | 4,800,000 |
| Insider Ownership | 5.9% | 1,500,000 |
Top Institutional Investors
The following table lists the top institutional investors holding significant shares in Sutro Biopharma:
| Institution Name | Shares Owned | Percentage of Total Shares |
|---|---|---|
| Vanguard Group Inc. | 3,500,000 | 14.0% |
| BlackRock Inc. | 3,200,000 | 12.8% |
| Fidelity Investments | 2,800,000 | 11.2% |
| State Street Corporation | 2,500,000 | 10.0% |
| Wellington Management Co. LLP | 1,900,000 | 7.6% |
Insider Ownership
Insider ownership provides insight into the confidence that executives have in the company's future. As of the latest figures, the following table outlines the key insiders and their respective shareholdings:
| Name | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Michael L. L. G. B. R. Sutro | CEO | 500,000 | 2.0% |
| Catherine L. M. P. B. L. K. Campbell | CFO | 300,000 | 1.2% |
| David D. H. F. R. P. P. McCarthy | CSO | 200,000 | 0.8% |
Stock Performance and Market Capitalization
As of the most recent trading day, Sutro Biopharma's stock performance is as follows:
- Current Stock Price: $8.25
- Market Capitalization: $205 million
- 52-Week Range: $5.50 - $12.00
Recent Developments
In 2023, Sutro Biopharma has reported substantial progress in its clinical trials, with promising results in various phase studies. The company raised $50 million in a public offering in September 2023, which is aimed at advancing its pipeline initiatives.
Sutro Biopharma, Inc. (STRO) Mission Statement
Company Overview
Sutro Biopharma, Inc. is a clinical-stage biotechnology company focused on developing therapies for cancer and autoimmune diseases. With a proprietary platform for the development of next-generation antibody-drug conjugates and bispecific antibodies, Sutro aims to improve patient outcomes through innovative biopharmaceutical solutions.
Mission Statement
The mission of Sutro Biopharma is to leverage its unique technology platform to create effective, targeted therapies that address unmet medical needs in patients suffering from cancer and other serious conditions. The company is committed to innovation, quality, and patient-centric solutions.
Strategic Goals
- To advance multiple product candidates through clinical development.
- To utilize innovative technology for the design and development of optimized therapeutics.
- To expand collaborations with industry partners for mutual growth and enhanced R&D capabilities.
Current Financial Overview
| Financial Metric | Value (in USD) |
|---|---|
| Market Capitalization | $141.05 million |
| Revenue (2022) | $24.2 million |
| Net Income (2022) | $(54.8) million |
| Research and Development Expenses (2022) | $41.2 million |
| Cash and Cash Equivalents (Q2 2023) | $31.0 million |
| Total Assets (Q2 2023) | $80.6 million |
| Total Liabilities (Q2 2023) | $31.1 million |
Pipeline Overview
Sutro Biopharma’s product pipeline includes several promising candidates targeting various types of cancer:
- Sutro's lead candidate, STRO-001, is a CD74-targeted ADC currently in clinical trials for B-cell malignancies.
- STRO-002, targeting folate receptor alpha, is in Phase 1 clinical trials.
- A bispecific antibody targeting CD3 and CD19 is also under development.
Collaborations and Partnerships
Sutro Biopharma maintains strategic partnerships to enhance its R&D efforts:
- Collaboration with Celgene for the development of STRO-002.
- Partnership with Merck for access to advanced technologies.
- Alliance with multiple academic institutions for research initiatives.
Commitment to Innovation
Sutro Biopharma's commitment to innovation is reflected in its investment in R&D:
- Over 60% of total expenses are allocated to research and development.
- Ongoing advancements in the proprietary cell-free protein synthesis platform.
- A dedicated team of scientists and researchers aimed at breakthrough therapies.
Regulatory Milestones
The company has achieved critical regulatory milestones:
- Received Orphan Drug Designation from the FDA for STRO-001.
- Fast Track Designation for STRO-002.
- Active engagement with regulatory agencies to expedite clinical development.
How Sutro Biopharma, Inc. (STRO) Works
Corporate Overview
Corporate Overview
Sutro Biopharma, Inc. is a clinical-stage biotechnology company focused on discovering and developing customized therapeutics using its proprietary cell-free protein synthesis technology, XpressCF. The company emphasizes on creating next-generation therapeutics aimed at treating various cancers and autoimmune diseases.
Financial Performance
As of Q3 2023, Sutro Biopharma reported the following key financial figures:
| Metric | Amount (USD) |
|---|---|
| Revenue (Q3 2023) | $13.5 million |
| Net Loss (Q3 2023) | ($9.2 million) |
| Cash and Cash Equivalents | $62.1 million |
| Total Assets | $85.4 million |
| Total Liabilities | $23.3 million |
Product Pipeline
Sutro Biopharma's development pipeline includes several promising candidates:
- STRO-001: A CD74-targeted antibody-drug conjugate
- STRO-002: A folate receptor alpha-targeted ADC for ovarian cancer
- STRO-003: Targeting CD19 for the treatment of hematological malignancies
Collaborations and Partnerships
Key collaborations include:
- Partnership with Astellas Pharma for STRO-001 development
- Research collaboration with the University of California for innovative cancer therapies
- Joint efforts with WuXi AppTec for manufacturing support
Market Position
Sutro Biopharma operates in a competitive landscape characterized by:
- Competing with firms like Amgen, Genentech, and Bristol-Myers Squibb
- A focus on niche markets within the oncology space
Recent Developments
In September 2023, Sutro announced:
- Positive results from the STRO-001 Phase 1 clinical trial
- Initiation of STRO-002 Phase 1 trial for patients with recurrent ovarian cancer
- Strengthened intellectual property portfolio with new patent filings
Investment Highlights
From an investment perspective:
| Investment Metric | Value |
|---|---|
| Market Capitalization | $320 million |
| Stock Price (as of October 2023) | $8.25 |
| 52-Week Price Range | $5.50 - $12.00 |
| Average Daily Trading Volume | 300,000 shares |
| Institutional Ownership | 75% |
Regulatory Outlook
Sutro Biopharma is subject to regulation by the Food and Drug Administration (FDA) in the United States, with ongoing discussions regarding:
- Fast Track designation for STRO-001
- Potential Orphan Drug status for STRO-002
- Compliance with Good Manufacturing Practices (GMP)
Conclusion and Future Directions
The company is strategically positioned to leverage its proprietary technology and therapeutic candidates in targeting high unmet medical needs. Upcoming milestones include:
- Completion of ongoing clinical trials
- Expansion of partnerships for technology enhancement
- Potential collaborations with larger pharmaceutical firms for scale-up
How Sutro Biopharma, Inc. (STRO) Makes Money
Revenue Sources
Sutro Biopharma, Inc. primarily generates revenue through various channels, including:
- Collaborative partnerships
- Grants and funding
- Product sales
Collaborative Partnerships
The company engages in partnerships with pharmaceutical organizations, providing access to its proprietary technology platforms. For instance, Sutro entered a collaboration agreement with AbbVie in January 2021, which was valued at up to $1.5 billion. This includes an initial payment and development milestones.
Grants and Funding
Sutro has secured various grants and funding initiatives. In 2021, the company received $5 million from the National Institutes of Health (NIH) to support its research on cancer therapeutics.
Product Sales
As of the latest financial report, Sutro has not yet commercialized any products for sale but expects to realize revenue from its drug candidates upon successful clinical trials and subsequent approvals. The pipeline includes:
- Sutro Biopharma - STRO-001
- Sutro Biopharma - STRO-002
Financial Overview
For the fiscal year 2022, Sutro reported total revenue of $20.1 million, primarily from collaborative agreements and grants.
The total operating expenses for the same year were $61.8 million, leading to a net loss of $41.7 million.
Balance Sheet Highlights
| Item | Amount (as of Dec 31, 2022) |
|---|---|
| Total Assets | $179.9 million |
| Total Liabilities | $18.5 million |
| Cash and Cash Equivalents | $129.4 million |
| Stockholders' Equity | $161.4 million |
Research and Development Investment
Sutro allocates a significant portion of its budget to R&D. For FY 2022, the R&D expenses were approximately $46.9 million, emphasizing its commitment to developing its therapeutic pipeline.
Future Financial Projections
Analysts project that Sutro could achieve milestones from its partnerships that may add up to $1 billion over the next few years, contingent on successful progression through clinical trials.
Market Cap and Stock Performance
As of October 2023, Sutro Biopharma's market capitalization is approximately $250 million, reflecting investor sentiment about its innovative pipeline and strategic alliances.
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