Sutro Biopharma Plunges 24% as STRO-004 Update Disappoints
STRO has more than doubled off its 52-week low of $7.15 on elevated volume (2.5× avg).
Summary
Sutro Biopharma shares fell 24.46% to $18.91 on Wednesday after the company's STRO-004 Phase 1 update. The data showed dose-limiting toxicities at the highest dose level (5 mg/kg), driven by target-related toxicity, leading to dose reductions but no discontinuations. Expansion cohorts are not planned until the first half of 2027, pushing the next update out to H1 2027. The company reported $164.3 million in cash as of June 30, 2026, extending runway into at least Q2 2028. The stock is now 19.2% below its 20-day SMA and 28.3% below its 50-day SMA, with MACD below signal line, confirming bearish momentum. This follows the earlier Q2 results release today; the market is reacting negatively to the toxicity signal and delayed expansion timeline.
At the time of this announcement, STRO was trading at $21.83 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $361.6M. The 52-week trading range was $7.15 to $43.85. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.