NEW YORK, May 13, 2020 (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 rswilloughby@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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In September 2018, Sutro conducted its initial public offering, selling 5,667,000 shares of common stock priced at $15.00 per share. On May 11, 2020, post-market, Sutro issued a press release reporting its financial and operating results for the first quarter of 2020. For the quarter, Sutro reported a net loss per share of $0.84 on revenues of $7.15 million, both of which metrics fell significantly short of consensus estimates.
On this news, Sutro’s stock price fell $1.25 per share, or 12.36%, to close at $8.86 per share on May 12, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 9980
