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Investing.com - Citizens JMP analyst Reni Benjamin has reiterated a Market Perform rating on Sutro Biopharma (NASDAQ:STRO) following the company’s second quarter 2025 earnings announcement last week. The stock, which has declined over 80% in the past year and shows a beta of 1.67, is currently trading below its InvestingPro Fair Value.
Sutro Biopharma reaffirmed its plans to file an Investigational New Drug (IND) application for STRO-004 in the second half of 2025, as part of its corporate updates during the earnings report.
The company reported a solid cash position of $205.1 million, resulting in an enterprise value of approximately negative $139 million, according to the analyst’s assessment.
Multiple partners, including Vaxcyte and Astellas, are advancing earlier-stage products through development while Sutro’s wholly owned pipeline is poised to move into clinical studies.
Citizens JMP maintains its Market Perform rating based on Sutro shares currently trading at approximately 30% of ending second quarter 2025 cash, which the firm views as a fair discount consistent with other biotech companies facing similar uncertainties.
In other recent news, Sutro Biopharma has entered into a collaboration with the U.S. Food and Drug Administration to develop reference materials for antibody drug conjugates (ADCs). This partnership aims to enhance regulatory standards and analytical methods for ADC drug development. Additionally, Piper Sandler has upgraded Sutro Biopharma’s stock rating from Neutral to Overweight, citing progress in the company’s pipeline. Sutro plans to file three Investigational New Drug applications for next-generation ADCs over the next three years, including STRO-004, STRO-006, and its first dual-payload ADC.
In another development, Sutro Biopharma has appointed Greg Chow as its new Chief Financial Officer. Chow brings over two decades of experience in finance and operations within the biotech sector, having previously held significant roles at NodThera, Freenome Holdings, and Frontier Medicines. His expertise includes corporate finance, capital markets, and investment banking, as well as financial accounting and drug development operations. These recent developments indicate ongoing strategic moves by Sutro Biopharma to strengthen its position in the biopharmaceutical industry.
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