STRO-001 is a monoclonal antibody conjugated commercialized by Sutro Biopharma, with a leading Phase I program in Refractory Multiple Myeloma. According to Globaldata, it is involved in 2 clinical trials, which are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of STRO-001’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for STRO-001 is expected to reach an annual total of $50 mn by 2037 globally based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

STRO-001 Overview

STRO-001 is under development for the treatment of relapsed and refractory advanced B-Cell malignancies such as multiple myeloma, diffuse large B-cell lymphoma, follicular lymphoma, Burkitt lymphoma, acute myeloid leukemia (AML), marginal zone b-cell lymphoma, hematologic malignancies and mantle cell lymphoma. It is administered through intravenous route. The therapeutic candidate is a monoclonal antibody conjugate targeting cells expressing CD74. It is based on Xpress CF technology using non-natural amino acids.

Sutro Biopharma Overview

Sutro Biopharma is a clinical-stage biopharmaceutical company that discovers, develops and manufactures novel cancer medicines which include antibody-drug conjugates (ADC’s), bispecific antibodies, and antibody-based therapeutics targeting immuno-oncology pathways. Sutro Biopharma’s pipeline portfolio includes STRO-001, a CD74 ADC for the treatment of multiple myeloma, lymphomas and STRO-002, targeting ovarian and endometrial cancer. The company develops its pipeline products through the Xpress CF and XpressCF+ platform, a biochemical protein synthesis system that develops therapeutic proteins and discovers drugs for the treatment and prevention of diseases. Sutro Biopharma owns a manufacturing facility in San Carlos, California. The company works in partnership with other pharmaceutical and biotechnology companies for pre-clinical development of novel antibody drug conjugates. Sutro Biopharma is headquartered in South San Francisco, California, the US.

The company reported revenues of (US Dollars) US$61.9 million for the fiscal year ended December 2021 (FY2021), an increase of 44.8% over FY2020. The operating loss of the company was US$98.5 million in FY2021, compared to an operating loss of US$71.1 million in FY2020. The net loss of the company was US$105.5 million in FY2021, compared to a net loss of US$32.1 million in FY2020. The company reported revenues of US$25.2 million for the third quarter ended September 2022, a decrease of 10.5% over the previous quarter.

For a complete picture of STRO-001’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.