NEW YORK, Jan. 23, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Sutro Biopharma, Inc. (“Sutro” or the “Company”) (NASDAQ: STRO). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Sutro and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 5, 2022, Sutro issued a press release “provid[ing] a clinical update from the Company's ongoing, fully enrolled, dose-expansion Phase 1 study of STRO-002, a folate receptor alpha (FolRα)-targeting antibody-drug conjugate (ADC), for patients with advanced ovarian cancer.” Although the Company stated that “[t]he interim data show that STRO-002 could potentially improve the lives of an underserved ovarian cancer patient population,” STRO-002’s impact on white blood cell count was sufficiently detrimental to call its benefit-to-risk ratio into question.
On this news, Sutro’s stock price fell $4.06 per share, or 27.87%, to close at $10.51 per share on January 6, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
