Sorrento up on FDA nod to start clinical study of COVID-19 treatment

Sorrento Therapeutics

02/03/2022 16:51

** Shares of Sorrento Therapeutics  SRNE.O  rise ~2% to
$2.49
    ** Co says FDA has given clearance to begin an early-stage
study to test intranasal neutralizing antibody candidate,
STI-9199, in healthy volunteers  urn:newsml:reuters.com:*:nGNX1G3Y5w
    ** Early-stage study will be conducted at single clinical
site in San Diego and will be followed by multinational
mid-to-late stage trials
    ** SRNE plans to discuss with FDA most appropriate goals for
pivotal study that could result in Emergency Use Authorization
    ** Separately, SRNE said preclinical data shows STI-9199
prevents productive infections when given to animals 24 hours
before they are exposed to COVID
    ** Stock has lost ~47% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))