SOUTH SAN FRANCISCO, Calif., Feb. 23, 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 its participation at the 16th World ADC London Summit, taking place in London, UK, February 23-26, 2026. Plenary/Panel Discussion Details: Panel Discussion: ADC Licensing, Partnering & Investment Session Sutro Participant: Hans-Peter Gerber, Ph.D.Date/Time: Febru ...

Company Overview - Sutro Biopharma, Inc. (STRO) shares increased by 11.9% to $15.64 in the last trading session, with a notable trading volume, and have gained 23.4% over the past four weeks [1][2] Financial Position - The stock price surge is attributed to a major underwritten offering of shares, which enhances the company's financial position and extends its cash runway for ongoing clinical studies and pipeline advancement [2] - The company is advancing multiple candidates with best-in-class potential targeting complex tumor types where competition is limited [2] Earnings Expectations - Sutro Biopharma is expected to report a quarterly loss of $4.66 per share, reflecting a year-over-year increase of 47.6%, while revenues are projected to be $9.08 million, down 35.2% from the previous year [3] - The consensus EPS estimate for the quarter has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] Industry Context - Sutro Biopharma operates within the Zacks Medical - Biomedical and Genetics industry, which includes other companies like TScan Therapeutics, Inc. (TCRX), that closed 1.4% higher at $1, but has seen a return of -16% over the past month [5] - TScan Therapeutics has a consensus EPS estimate of -$0.27 for the upcoming report, representing a year-over-year change of +6.9%, and also holds a Zacks Rank of 3 (Hold) [6]

Core Viewpoint - Sutro Biopharma, Inc. has announced the pricing of an underwritten offering of 7,868,383 shares of its common stock at $13.98 per share, aiming to raise approximately $110.0 million in gross proceeds before expenses [1][3]. Group 1: Offering Details - The offering consists of shares being offered solely by Sutro, with the expected closing date around February 11, 2026, pending customary closing conditions [1]. - Participation in the offering includes both new and existing investors such as BVF Partners L.P., Samsara BioCapital, and others [2]. Group 2: Use of Proceeds - Sutro intends to utilize the net proceeds from the offering for general corporate purposes, which may encompass funding research, clinical development, manufacturing of product candidates, increasing working capital, and potential acquisitions or investments [3]. Group 3: Company Overview - Sutro Biopharma is focused on advancing a next-generation antibody-drug conjugate (ADC) platform aimed at delivering innovative cancer therapies, with a pipeline targeting significant oncology markets that currently have limited treatment options [6].

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]