Share of Sorrento Therapy (Nasdaq stock code: SRNE) As of 11:07 am EDT on Tuesday, its stock price has risen 10.5%. After the company announced on Monday evening to encourage its experimental COVID-19 antibody therapies STI-1499 and STI-2020 preclinical data, it has achieved gratifying growth.
Sorrento announced that both experimental antibody therapies have shown solid neutralizing activity against SARS-CoV-2 in preclinical tests in Syrian golden hamsters. On the fifth day after treatment, in 100% of hamsters, a dose of 500 micrograms of STI-2020 reduced the viral load in the lungs to an undetectable level. A dose of 2,000 mg of STI-1
How are these results? Sorrento CEO Henry Ji said in a statement: “STI-2020 is our most promising SARS-CoV-2 antibody to date.” He added that experimental therapies “may be used for early and Late treatment intervention and prevention.”
Understandably, today’s news provides a good boost for biotech stocks. But it is important to remember that these are only preclinical results. Sorrento still has a long way to go before it can finally prove that STI-2020 or STI-1499 is safe and effective for treating patients with COVID-19.
How to do
The U.S. Food and Drug Administration has given Sorrento the green light to begin a phase 1 study evaluation of STI-1499 in the treatment of hospitalized COVID-19 patients. But with the promising preclinical data released today, STI-2020 seems to have greater potential for success. Sorrento said it plans to apply for FDA approval to start the Phase 1 study of STI-2020 “as soon as possible.”