Starton Therapeutics (STA)
Market Price (7/22/2026): $372.81 | Market Cap: $11.3 BilSector: Health Care | Industry: Biotechnology
Starton Therapeutics (STA)
Market Price (7/22/2026): $372.81Market Cap: $11.3 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. | Weak multi-year price returns2Y Excs Rtn is -21%, 3Y Excs Rtn is -17% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -11 Mil |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -21%, 3Y Excs Rtn is -17% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -11 Mil |
Qualitative Assessment
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Updated on 7/1/2026
Starton Therapeutics (STA) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Starton Therapeutics (STA) was largely untraded on a public stock exchange for the majority of the period since fiscal Q1 2026 ended on March 31, 2026, as the company was in the process of its Initial Public Offering (IPO) to list on the Nasdaq. This absence of public trading activity directly contributed to its stock remaining largely at the same level.
2. The company adjusted its IPO deal size in fiscal Q2 2026 (April 1 to June 30, 2026), ahead of its public listing. Starton Holdings lowered the proposed raise to $30 million by offering 5 million shares at a price range of $5 to $7, representing a 25% reduction in anticipated proceeds compared to an earlier filing for 6.7 million shares. This adjustment suggested a recalibration of market expectations for its initial public offering.
Show more
Starton Therapeutics (STA) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Starton Therapeutics (STA) was largely untraded on a public stock exchange for the majority of the period since fiscal Q1 2026 ended on March 31, 2026, as the company was in the process of its Initial Public Offering (IPO) to list on the Nasdaq. This absence of public trading activity directly contributed to its stock remaining largely at the same level.
2. The company adjusted its IPO deal size in fiscal Q2 2026 (April 1 to June 30, 2026), ahead of its public listing. Starton Holdings lowered the proposed raise to $30 million by offering 5 million shares at a price range of $5 to $7, representing a 25% reduction in anticipated proceeds compared to an earlier filing for 6.7 million shares. This adjustment suggested a recalibration of market expectations for its initial public offering.
Show more
Updated on 7/1/2026
Starton Therapeutics (STA) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Starton Therapeutics (STA) was largely untraded on a public stock exchange for the majority of the period since fiscal Q1 2026 ended on March 31, 2026, as the company was in the process of its Initial Public Offering (IPO) to list on the Nasdaq. This absence of public trading activity directly contributed to its stock remaining largely at the same level.
2. The company adjusted its IPO deal size in fiscal Q2 2026 (April 1 to June 30, 2026), ahead of its public listing. Starton Holdings lowered the proposed raise to $30 million by offering 5 million shares at a price range of $5 to $7, representing a 25% reduction in anticipated proceeds compared to an earlier filing for 6.7 million shares. This adjustment suggested a recalibration of market expectations for its initial public offering.
3. Continued advancement in its clinical pipeline provided a steady underlying factor for its valuation. Specifically, the dosing of the first patient in the Phase 2a study evaluating STAR-LLD for the treatment of relapsed/refractory multiple myeloma, announced in fiscal Q4 2025 (February 2026), represented ongoing progress in clinical development that contributed to the company's intrinsic value and future prospects.
4. Expansion of intellectual property further contributed to the company's long-term valuation, even prior to public trading. Starton Therapeutics filed patent applications in fiscal Q4 2025 (February 2026) and fiscal Q1 2026 (March 2026) for the use of its proprietary STAR-LLD in combination with multi-specific antibody-based therapies and CAR-T therapies for blood cancer.
Show less
Starton Therapeutics (STA) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Starton Therapeutics (STA) was largely untraded on a public stock exchange for the majority of the period since fiscal Q1 2026 ended on March 31, 2026, as the company was in the process of its Initial Public Offering (IPO) to list on the Nasdaq. This absence of public trading activity directly contributed to its stock remaining largely at the same level.
2. The company adjusted its IPO deal size in fiscal Q2 2026 (April 1 to June 30, 2026), ahead of its public listing. Starton Holdings lowered the proposed raise to $30 million by offering 5 million shares at a price range of $5 to $7, representing a 25% reduction in anticipated proceeds compared to an earlier filing for 6.7 million shares. This adjustment suggested a recalibration of market expectations for its initial public offering.
3. Continued advancement in its clinical pipeline provided a steady underlying factor for its valuation. Specifically, the dosing of the first patient in the Phase 2a study evaluating STAR-LLD for the treatment of relapsed/refractory multiple myeloma, announced in fiscal Q4 2025 (February 2026), represented ongoing progress in clinical development that contributed to the company's intrinsic value and future prospects.
4. Expansion of intellectual property further contributed to the company's long-term valuation, even prior to public trading. Starton Therapeutics filed patent applications in fiscal Q4 2025 (February 2026) and fiscal Q1 2026 (March 2026) for the use of its proprietary STAR-LLD in combination with multi-specific antibody-based therapies and CAR-T therapies for blood cancer.
Show less
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
3/31/2026 to 7/21/2026| Return | Correlation | |
|---|---|---|
| STA | 0.0% | |
| Market (SPY) | 15.1% | � |
| Sector (XLV) | 9.3% | � |
Fundamental Drivers
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Market Drivers
12/31/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| STA | 0.0% | |
| Market (SPY) | 10.0% | � |
| Sector (XLV) | 3.9% | � |
Fundamental Drivers
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Market Drivers
6/30/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| STA | 0.0% | |
| Market (SPY) | 22.1% | � |
| Sector (XLV) | 20.4% | � |
Fundamental Drivers
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Market Drivers
6/30/2023 to 7/21/2026| Return | Correlation | |
|---|---|---|
| STA | 43.2% | |
| Market (SPY) | 74.8% | 23.8% |
| Sector (XLV) | 26.4% | 22.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| STA Return | 14% | 22% | 4% | 29% | - | - | 87% |
| Peers Return | -31% | -36% | 7% | -4% | 40% | -17% | -48% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| STA Win Rate | 58% | 58% | 58% | 75% | - | - | |
| Peers Win Rate | 38% | 35% | 48% | 52% | 50% | 46% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| STA Max Drawdown | -10% | -19% | -17% | -12% | - | - | |
| Peers Max Drawdown | -59% | -61% | -60% | -60% | -45% | -48% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HALO, XERS, HRTX, PACB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/21/2026 (YTD)
How Low Can It Go
| Event | STA | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -12.2% | -6.7% |
| % Gain to Breakeven | 13.9% | 7.1% |
| Time to Breakeven | 264 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -38.9% | -33.7% |
| % Gain to Breakeven | 63.6% | 50.9% |
| Time to Breakeven | 236 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -12.5% | -19.2% |
| % Gain to Breakeven | 14.3% | 23.8% |
| Time to Breakeven | 57 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -18.0% | -17.9% |
| % Gain to Breakeven | 22.0% | 21.8% |
| Time to Breakeven | 18 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -42.7% | -53.4% |
| % Gain to Breakeven | 74.6% | 114.4% |
| Time to Breakeven | 384 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -10.4% | -8.6% |
| % Gain to Breakeven | 11.6% | 9.5% |
| Time to Breakeven | 57 days | 47 days |
In The Past
Starton Therapeutics's stock fell -1.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 1.8% gain to breakeven.
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| Event | STA | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -38.9% | -33.7% |
| % Gain to Breakeven | 63.6% | 50.9% |
| Time to Breakeven | 236 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -42.7% | -53.4% |
| % Gain to Breakeven | 74.6% | 114.4% |
| Time to Breakeven | 384 days | 1085 days |
In The Past
Starton Therapeutics's stock fell -1.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 1.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Starton Therapeutics (STA)
The Travelers Companies, Inc., through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United states and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance. The Business Insurance segment offers workers' compensation, commercial automobile and property, general liability, commercial multi-peril, employers' liability, public and product liability, professional indemnity, marine, aviation, onshore and offshore energy, construction, terrorism, personal accident, and kidnap and ransom insurance products. This segment operates through select accounts, which serve small businesses; commercial accounts that serve mid-sized businesses; national accounts, which serve large companies; and national property and other that serve large and mid-sized customers, commercial trucking industry, and agricultural businesses, as well as markets and distributes its products through brokers, wholesale agents, and program managers. The Bond & Specialty Insurance segment provides surety, fidelity, management and professional liability, and other property and casualty coverages and related risk management services through independent agencies and brokers. The Personal Insurance segment offers property and casualty insurance covering personal risks, primarily automobile and homeowners insurance to individuals through independent agencies and brokers. The Travelers Companies, Inc. was founded in 1853 and is based in New York, New York.
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Pedro Lichtinger Waisman, Chairman and Chief Executive Officer
Pedro Lichtinger Waisman is the Chairman and Chief Executive Officer of Starton Therapeutics. He previously served as CEO of Asterias Biotherapeutics and Optimer Pharmaceuticals. Additionally, he held former President roles at various Pfizer business units. He holds an MBA from Wharton.
Scott L. Kahn, Chief Financial Officer
Scott L. Kahn serves as the Chief Financial Officer for Starton Therapeutics. He brings over 35 years of experience in finance and accounting, having held prior CFO/VP roles at medical-technology and other public companies. He is a Certified Public Accountant (CPA) in New York.
James C. Oliver, Chief Medical Officer
James C. Oliver, Pharm.D., is the Chief Medical Officer at Starton Therapeutics. He has more than 30 years of experience in Contract Research Organizations (CRO) and biotechnology, having prepared over 50 Investigational New Drug (IND) applications and participated in 7 New Drug Applications (NDA). His career includes leadership positions at global CROs.
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Starton Therapeutics (symbol: STA) is a clinical-stage biotechnology company focused on developing continuous delivery formulations of FDA-approved active ingredients to improve tolerability, adherence, and outcomes in oncology. Their lead product, STAR-LLD, reformulates lenalidomide, the active ingredient found in Revlimid.
The addressable markets for Starton Therapeutics' main product, STAR-LLD, are:
- For lenalidomide, the active ingredient in Revlimid, the global market size was $12.8 billion in 2022. Starton Therapeutics aims to expand this market by targeting patients who are intolerant to Revlimid.
- The global market for multiple myeloma therapeutics, which STAR-LLD targets, was estimated at $20.9 billion in 2023 and is projected to grow to $30.3 billion by 2030, with a compound annual growth rate (CAGR) of 5.5% from 2024 to 2030.
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Share Issuance
- Starton Holdings Inc. filed in December 2025 to raise $40 million through an Initial Public Offering (IPO), proposing to offer approximately 6.67 million shares at a midpoint price of $6.00 per share.
- A previous plan in April 2023 for Starton Therapeutics to go public via a business combination with Healthwell Acquisition Corp. I, which included an anticipated $15 million private investment in public equity (PIPE), was terminated in November 2023.
Inbound Investments
- Starton has raised a total of $9.29 million across 8 funding rounds.
- By September 30, 2025, Starton had accumulated $77.7 million in fair market value investment from various investors.
- In September 2022, Love Pharma Inc. made a strategic investment of C$592,000 for 145,161 shares of Starton priced at $3.10 U.S. per share.
Outbound Investments
- Starton Therapeutics has not made any outbound investments or acquisitions.
Capital Expenditures
- The anticipated proceeds from the December 2025 IPO were intended to fund clinical development programs for STAR-LLD, including a Phase 2 multiple myeloma trial and a Phase 1 CLL study, support academic IIT studies, cover certain trade payables, and provide working capital.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 5.09 |
| Mkt Cap | 1.0 |
| Rev LTM | 160 |
| Op Inc LTM | -10 |
| FCF LTM | 13 |
| FCF 3Y Avg | -19 |
| CFO LTM | 14 |
| CFO 3Y Avg | -17 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 22.1% |
| Rev Chg 3Y Avg | 19.6% |
| Rev Chg Q | 19.2% |
| QoQ Delta Rev Chg LTM | 3.9% |
| Op Inc Chg LTM | 56.8% |
| Op Inc Chg 3Y Avg | 19.6% |
| Op Mgn LTM | 2.2% |
| Op Mgn 3Y Avg | -16.1% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 1.0% |
| CFO/Rev 3Y Avg | -13.6% |
| FCF/Rev LTM | 0.6% |
| FCF/Rev 3Y Avg | -14.3% |
Price Behavior
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STA Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | � | � | � | � | � | 0.13 |
| Up Beta | � | � | � | � | � | 0.10 |
| Down Beta | � | � | � | � | � | 0.11 |
| Up Capture | 0% | 0% | 0% | 0% | 0% | 6% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 0 | 0 | 0 | 0 | 0 | 208 |
| Down Capture | -0% | -0% | -0% | -0% | -0% | 26% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 0 | 0 | 0 | 0 | 0 | 166 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STA | |
|---|---|---|---|---|
| STA | - | - | - | - |
| Sector ETF (XLV) | 23.2% | 15.8% | 1.13 | - |
| Equity (SPY) | 20.3% | 12.6% | 1.19 | - |
| Gold (GLD) | 21.6% | 28.1% | 0.69 | - |
| Commodities (DBC) | 31.4% | 19.1% | 1.30 | - |
| Real Estate (VNQ) | 15.0% | 14.0% | 0.76 | - |
| Bitcoin (BTCUSD) | -44.6% | 42.9% | -1.25 | - |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STA | |
|---|---|---|---|---|
| STA | 11.2% | 22.1% | 0.65 | - |
| Sector ETF (XLV) | 6.1% | 15.0% | 0.22 | 37.2% |
| Equity (SPY) | 12.9% | 17.1% | 0.58 | 37.5% |
| Gold (GLD) | 17.3% | 18.4% | 0.76 | 2.0% |
| Commodities (DBC) | 8.9% | 19.5% | 0.35 | 12.9% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 30.1% |
| Bitcoin (BTCUSD) | 14.9% | 53.4% | 0.46 | 8.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STA | |
|---|---|---|---|---|
| STA | 9.5% | 24.9% | 0.45 | - |
| Sector ETF (XLV) | 9.9% | 16.6% | 0.48 | 50.6% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 56.8% |
| Gold (GLD) | 11.2% | 16.1% | 0.57 | 2.6% |
| Commodities (DBC) | 7.2% | 17.9% | 0.32 | 21.9% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 54.1% |
| Bitcoin (BTCUSD) | 58.7% | 66.2% | 0.99 | 9.6% |
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Earnings Returns History
Updated 6/11/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Industry Resources
External Quote Links
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Core Cache Last Updated: 7/21/2026