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By The Online Investor Staff, updated Thu., Apr. 18, 11:26 PM
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Secondary Stock Offerings| This Slide: #13 of 25 |
Slide #13. Sutro Biopharma, Inc. — Secondary Offering
Company:
Sutro Biopharma, Inc. (NASDAQ:STRO)
Date announced:
4/2/2024
Shares Offered:
14,478,764
Date of Pricing:
4/2/2024
Price Per Share:
$5.18
Secondary Offering Details:
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 the pricing of an underwritten offering of 14,478,764 shares of its common stock at a price of $5.18 per share. The gross proceeds from this offering are expected to be approximately $75.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by Sutro. All of the shares of common stock are being offered by Sutro. The offering is expected to close on or about April 4, 2024, subject to the satisfaction of customary closing conditions.
Sutro Biopharma is a clinical-stage oncology company developing site-specific and antibody drug conjugates (ADCs) enabled by its proprietary integrated cell-free protein synthesis platform, XpressCF®, and its site-specific conjugation platform, XpressCF+®. Co.'s product candidate is STRO-002, or luveltamab tazevibulin, an ADC directed against folate receptor-alpha (FolRa) for patients with FolRa-expressing cancers, including ovarian cancer. Co.'s other product candidate is STRO-001, an ADC directed against CD74, for patients with B-cell malignancies, such as multiple myeloma and non-Hodgkin lymphoma. Co. also has a preclinical product candidate, STRO-003, which is a single homogeneous ADC.
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Avg. Broker Rec.
 
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Strong Buy (3.80 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: STRO Stock Forecast Based on Zacks ABR data; powered by Xignite |
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