Why Sutro Biopharma Stock Is Losing Ground Today

Shares of Sutro Biopharma (NASDAQ: STRO), a clinical-stage biopharmaceutical company, are falling after the company reported clinical trial results for its lead candidate. Investors losing confidence in the STRO-002 program knocked the stock down 27.8% as of 12:20 p.m. ET on Thursday.

Sutro Biopharma stock is falling in response to results from a phase 1 trial with ovarian cancer patients and STRO-002. This is an antibody-drug conjugate (ADC) that targets folate receptor alpha and it isn't the only one in development. Mirvetuximab soravtansine from Immunogen failed to reduce ovarian cancer patients' risk of disease progression in a phase 3 trial back in 2019.

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Source Fool.com