Sorrento Shares Pop After Interim Data From Lung Cancer Trial

Sorrento Therapeutics Inc SRNE announced positive results from a pivotal study of Abivertinib on 209 response evaluable, heavily pretreated NSCLC patients by an IRC assessment with matured long-term follow-up data.
Abivertinib selectively inhibits EGFR-activating and resistant mutation with nearly 300-fold greater potency than wild-type EGFR.
In these Independent Review Committee (IRC)-assessed preliminary data, Abivertinib showed significant treatment benefits in 209 response evaluable, heavily treated NSCLC patients with an ORR of 56.5%.
Related: Sorrento Starts Mid-Stage Study Of Abivertinib In Prostate Cancer.
A significant CR rate was seen with Abivertinib (5.3%) compared to AstraZeneca Plc's AZN Tagrisso (osimertinib) (0.5%), while the ORR rate is comparable between the two drugs.
Overall survival was 28.2 months (versus Tagrisso's median OS of 26.8 months).
Sorrento is preparing the pre-FDA marketing application materials and package.
Price Action: SRNE shares are up 5.51% at $1.87 on the last check Tuesday.