Sutro Biopharma tumbles after missing estimates
STRO•Pipeline and cash outlook
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Sutro expects to start a Phase 1 trial for STRO-006 in Q3 2026.
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The company expects its cash position to support operations into at least Q2 2028.
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Major shareholders include activist funds BVF Partners, Perceptive Advisors and OrbiMed Advisors, per LSEG.
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The current average rating on the shares among 14 analysts is "buy" and the median price target is $50.
Shares fall after Q2 miss
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Shares of oncology drug developer Sutro Biopharma STRO.O were down about 25% to an over five-month low on Wednesday morning.
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Q2 revenue was $9.8 million, short of the $13.1 million estimate, per LSEG.
