Sorrento Therapeutics Inc (SRNE)

[Sk8crazyman]

Sorrento Therapeutics Shares Up 10% on Positive Test Results

6/5/20, 6:54 AM
“Sorrento Therapeutics Inc. shares rose 10% to $4.26 after the company said it has completed a preclinical batch of the STI-4398 protein and is reporting positive results from preclinical testing of its ability to neutralize and inhibit SARS-CoV-2 virus from infecting ACE2-expressing cells, VERO/E6.

The biopharmaceutical company said STI-1499 could be a antidote for Covid-19 pending successful demonstration of its safety and efficacy in pre-clinical and clinical studies.

Sorrento said March 20 that it had designed and produced its STI-4398 product candidate as a binding protein to the spike protein of the SARS-Cov-2 virus.

Sorrento said it has discussed with the Food and Drug Administration the development of this drug candidate and has received guidance on the path forward to a clinical trial for STI-4398 for both the potential treatment of infected patients and as a potential prophylactic treatment to Covid-19.

Write to Chris Wack at [e-mail]”