Sorrento Therapeutics, Inc. (NASDAQ: SRNE) announced today the result of COVI-GUARD™ (STI-1499) and COVI-AMG™ (STI-2020) neutralizing antibodies (nAbs) against SARS-CoV-2. Both the STI-1499 and STI-2020 antibodies have shown the neutralizing activities against SARS-CoV-2 virus infection in preclinical models.
STI-1499 neutralizing antibody has earlier received the green signal from the FDA in the Phase 1 clinical trial in hospitalized COVID-19 patients. While the STI-2020 is a matured version of the COVI-GUARD neutralizing antibody and has shown a greater than 50-fold increase in potency in Invitro experiments. Both the neutralizing antibodies have demonstrated 100% In vitro neutralization of SARS-CoV-2.
STI-1499 and STI-2020 nAb has shown the promising result in the pre-clinical studies. Hamsters that are infected with coronavirus when received the single dose of STI-2020 have gained within 48 hours after the injection of neutralizing antibodies. It has been disclosed that the 500 µg single dose of STI-2020 injected in hamsters in the preclinical studies would be equivalent to a human dose of less than 100 mg of antibody.
As compared to other medical treatment for SAR-CoV-2, this antibody has shown very promising results at a low dose. Therefore, it is considered that the COVI-AMG could potentially be injected as a simple and rapid injection to treat COVID-19 patients. The company has earlier received FDA authorization for STI-1499 to treat hospitalization COVID-19 patient and the company is planning to submit IND for STI-2020 soon.
Sorrento Therapeutics has also reported the positive Phase 1b trial data of resiniferatoxin (RTX). The data revealed that the RTX has not shown any negative safety signal as of September. The Phase 1b trial has been conducted to study the effectiveness of resiniferatoxin (RTX) for the treatment of moderate to severe pain due to osteoarthritis (OA) of the knee.
The Phase 1b trial of RTX has shown the encouraging results and the company has now decided to start the Phase 2 clinical trial of an investigational drug product in 2020. It is expected that the Phase 3 clinical trial will start in 2021 after completing additional enabling preclinical studies.
Sorrento Therapeutics, Inc. (NASDAQ: SRNE) shares were trading up 4.73% at $10.63 at the time of writing on Tuesday. Sorrento Therapeutics, Inc. share price went from a low point around $1.39 to briefly over $19.39 in the past 52 weeks. It has moved up 664.76% from its 52-weeks low and moved down -45.18% from its 52-weeks high. SRNE market cap has remained high, hitting $2.47 billion at the time of writing.