Sutro Biopharma (NASDAQ:STRO) stock is on the rise Friday despite the company not announcing anything new today.
While there’s nothing new to talk about with Sutro Biopharma today, it did make an announcement yesterday. The company reported positive interim results from a Phase 1 clinical trial of its treatment for ovarian cancer. It’s possible that news is still pushing STRO stock higher today.
Alongside the rising price of STRO stock comes heavy trading of the shares. As of this writing, more than 2 million shares of the stock have traded. That’s a solid boost compared to its daily average trading volume of about 370,000 shares.
With more investors taking an interest in STRO stock, there’s likely some new to the company. Let’s take a look at what Sutro Biopharma is all about below.
- Sutro Biopharma is a biopharmaceutical company focused on the development of cancer and autoimmune therapeutics.
- This has it developing molecule-based treatments instead of the typical cell-based ones.
- The company notes that this allows it quicker testing of treatments as compared to the cell approach.
- It currently has three product candidates in testing.
- Sutro Biopharma has teamed up with a few larger companies for the development of treatments.
- These partnerships include Merck (NYSE:MRK), Bristol Myers Squibb (NYSE:BMY) through Celgene, and EMD Serono.
- Sutro Biopharma’s own work is mainly on oncology while its therapeutics work comes from its collaborations with other comapnies.
STRO stock was up 29.9% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.