Sorrento granted FDA nod to start clinical trial for intranasal COVID-19 therapy

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• San Diego, California-based biotech Sorrento Therapeutics (SRNE +1.2%) announced on Wednesday that the U.S. Food and Drug Administration (FDA) cleared its investigational new drug application (IND) for intranasal STI-9199 (COVISHIELD), an experimental antibody against COVID-19.
• The company plans to start a single-site Phase 1 safety and pharmacokinetic study for STI-9199 in San Diego involving healthy volunteers. It will be followed by a multinational Phase 2/3 trial in the U.S., U.K, and Mexico, targeting both mild and moderate COVID-19 patients.
• The company expects to engage the FDA regarding the endpoints for a pivotal trial that could potentially lead to an Emergency Use Authorization (EUA) for the treatment.
• Separately, Sorrento (NASDAQ:SRNE) shared pre-clinical results for STI-9199 indicating its potential to prevent COVID-19 infection in animals after being given the drug 24 hours before exposure to the virus.

Comments

[prudent 576]

SRNE is a pump n' dump stock which I have made money on in the past. Wait until it gets down to about $1.50, buy and sell when it is sufficiently pumped. It is clear when you look at the past 22-year chart. You're welcome.

[Ultimate Bag Holder]

This Phase1 or vitro king stock will be less than 1$ soon. Their CEO is PR guy pumping share prices with vitro results for every week. SRNE pipeline is like a giant pharma company because they announce vitro or p1 studies.

[Recent Aquisition]

2 years into COVID and we are just at phase one for this treatment. I bought into SRNE in early 2021 partly because I’m on board with COVID therapies and love the direction.... just scratching my head at the glacial pace of progress.

Seems the entire pipeline is on the same, slow trajectory. Frustratingly slow and I’ve been staring at red for months. And I realize one reason for the red is the shenanigans the shorts are playing but until there is tangible news they continue to have the upper hand.

[goodfellasfinancial]

Down 547% on the news.... so much more than a covid play, so misunderstood

[flat baroque]

@goodfellasfinancial so explain it for me. I read a lot of negatives about the company. What’s the positive (beyond hoping)?

[arvsha16]

@flat baroque nothing, just PR every week I feel.