Sorrento gains on completing early-stage study of oral COVID-19 drug

Sorrento Therapeutics

17/10/2022 14:27

** Shares of biotech co Sorrento Therapeutics Inc  SRNE.O 
jump 8% to $1.45 before the bell 
    ** Co says it has completed an early-stage study of its
experimental oral drug, STI-1558, in 58 healthy volunteers in
Australia  urn:newsml:reuters.com:*:nGNX5jhnqX
    ** SRNE says there were no serious adverse events or severe
treatment emergent adverse events observed in study
    ** Co is developing STI-1558 for treatment and prevention of
COVID-19 without the need for a booster of the HIV medication
ritonavir
    ** Adds that it has begun another early-stage study to test
safety and efficacy of STI-1558 in China 
    ** Says has planned a mid-stage study for STI-1558, which
could support co's Emergency Use Authorization in Mexico 
    ** As of last close, SRNE down 71% YTD 
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))