- Sorrento Therapeutics (NASDAQ:SRNE) has received clearance from the FDA for its Investigational New Drug application (IND) for its Phase 1 study of the safety and pharmacokinetics of intranasal (IN) STI-2099 (COVIDROPS) in both healthy volunteers and patients with mild COVID-19.
- Initial trials are expected to be followed by a Phase 2 trial in both mild and moderate COVID-19 patients, either as a stand-alone nasal application or as a combination nasal and intravenous administration.
- The company highlighted that this is the first FDA clearance of a clinical trial of intranasal administration of a neutralizing antibody against the SARS-CoV-2 virus.
- Shares up nearly 5% post market.
- The FDA had also cleared Sorrento to initiate clinical trail of internally developed anti-CD47 monoclonal antibody, STI-6643, earlier on Tuesday.
Sorrento wins FDA go-ahead for early-stage STI-2099 COVID-19 trial
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