SUTRO BIOPHARMA, INC.

(STRO)
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Delayed Nasdaq  -  04:00 2022-08-05 pm EDT
5.760 USD   +4.92%
08/03Sutro Biopharma to Present at the 2022 Wedbush PacGrow Healthcare Conference
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07/27Sutro Biopharma Achieves 'First in Human' Milestone in Cytokine Derivatives Collaboration with Merck
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07/26SUTRO BIOPHARMA, INC. : Other Events (form 8-K)
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Sutro Biopharma Shares Rise 24% After Collaboration With Astellas Pharma

06/28/2022 | 08:13am EDT

By Chris Wack


Sutro Biopharma Inc. shares rose 24% to $5.36 after the company said it entered into a worldwide strategic collaboration and licensing agreement with Astellas Pharma Inc.

The company said the partnership will focus on the discovery and development of novel immunostimulatory antibody-drug conjugates.

The partnership will enable Astellas and Sutro to accelerate iADC development for three biological targets. Sutro will engage in research and preclinical studies to identify candidate compounds, with Astellas working on clinical development.

Sutro will receive an upfront cash payment of $90 million to develop iADCs for three biological targets and may be eligible to receive up to $422.5 million in development, regulatory and commercial milestones for each product candidate, as well as tiered royalties of low double-digit to mid-teens on worldwide sales of any commercial products that may result from the collaboration, subject to Sutro's cost and profit sharing option for the U.S.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

06-28-22 1013ET

Stocks mentioned in the article
ChangeLast1st jan.
ASTELLAS PHARMA INC. 1.03% 2020 Delayed Quote.7.99%
SUTRO BIOPHARMA, INC. 4.92% 5.76 Delayed Quote.-61.29%
All news about SUTRO BIOPHARMA, INC.
08/03Sutro Biopharma to Present at the 2022 Wedbush PacGrow Healthcare Conference
AQ
07/27Sutro Biopharma Achieves 'First in Human' Milestone in Cytokine Derivatives Collaborati..
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07/26SUTRO BIOPHARMA, INC. : Other Events (form 8-K)
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06/28Sutro Biopharma Shares Rise 24% After Collaboration With Astellas Pharma
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Financials (USD)
Sales 2022 50,8 M - -
Net income 2022 -143 M - -
Net cash 2022 120 M - -
P/E ratio 2022 -1,96x
Yield 2022 -
Capitalization 270 M 270 M -
EV / Sales 2022 2,96x
EV / Sales 2023 7,44x
Nbr of Employees 234
Free-Float 87,4%
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Technical analysis trends SUTRO BIOPHARMA, INC.
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Mean consensus BUY
Number of Analysts 9
Last Close Price 5,76 $
Average target price 27,00 $
Spread / Average Target 369%
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Managers and Directors
William J. Newell President, Chief Executive Officer & Director
Edward C. Albini Chief Financial Officer & Secretary
Connie L. Matsui Chairman
Henry Heinsohn Vice President-Technology & Innovation
Trevor Hallam Chief Scientific Officer & President-Research
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