Sorrento Therapeutics gains on positive data from COVID drug study

Sorrento Therapeutics

29/11/2022 19:40

** Shares of Sorrento Therapeutics Inc  SRNE.O  rise ~6% to
$1.30 
    ** Co reports positive results from its early-stage study in
Australia, testing its experimental COVID-19 drug STI-1558 
    ** STI-1558 was well-tolerated at certain dosage levels with
most subjects reporting no adverse events - SRNE 
    ** Also reports preliminary data from an early-stage trial
of the drug in China; co says data about how the drug  
interacts with body was similar to that seen in Australia
    ** Adds that preliminary data shows STI-1558 resulted in a
"dramatic rapid reduction" in viral load in subjects
    ** Including session's move, stock down 72% YTD
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))