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August 9 , 2021 SUTRO BIOPHARMA Sutro Biopharma Reports Second Quarter 2021 Financial Results , Business Highlights and Anticipated Second Half 2021 Milestones - Additional follow - up data on STRO - 002 from the Phase 1 dose- escalation cohort were presented at ASCO June 2021 ; enrollment for the Phase 1 dose - expansion cohort is ongoing - Milestone payment earned from Merck for initiation of IND - enabling study and from EMD Serono for Phase 1 patient enrollment achievement - Cash , cash equivalents and marketable securities of $ 283.4 million as of June 30 , 2021 and projected cash runway into the second half of 2023 SOUTH SAN FRANCISCO , Calif . , Aug. 9 , 2021 / PRNewswire / -- Sutro Biopharma , Inc. ( NASDAQ : STRO ) , a clinical - stage drug discovery , development and manufacturing company focused on the application of precise protein engineering and rational design to create next - generation cancer and autoimmune therapeutics , today reported its financial results for the quarter ended June 30 , 2021 , its recent business highlights , and provided a preview of anticipated selected milestones in the second half of 2021 . " Additional follow - up data from our STRO - 002 dose - escalation data were presented at ASCO and these data continue to demonstrate meaningful clinical benefit for women with advanced ovarian cancer . Enrollment in the dose - expansion cohort is ongoing and we look forward to providing an update later this year , " said Bill Newell , Sutro's Chief Executive Officer . " Our ADC collaborations with Bristol Myers Squibb and EMD Serono continue to make progress in the clinic . We are also encouraged by the strength of the Merck cytokine collaboration , with the first product candidate in IND - enabling studies and additional potential product candidates under development . These high - value partnerships add to the breadth of Sutro's accomplishments in developing novel therapeutics to expand much - needed treatment options for cancer patients . " Recent Business Highlights and Anticipated Second Half 2021 Milestones STRO - 002 , FolRa - Targeting ADC : Enrollment continues in the Phase 1 dose - expansion cohort for patients with advanced ovarian cancer . • The dose - escalation cohort of the Phase 1 trial completed enrollment as of August 31 , 2020 , and updated data were reported in May 2021 and presented as a poster at the American Society of Clinical Oncology ( ASCO ) Virtual Annual Meeting in June 2021 .