Sorrento Starts Patient Dosing In Mid-Stage COVID-19 Trial With Nasal Neutralizing Antibody

Sorrento Therapeutics Inc SRNE has started dosing COVID-19 patients in its Phase 2 efficacy trial. 

• This study uses a decentralized design where subjects are assessed and treated in their homes.
• It received a rapid review and clearance from the Medicines and Healthcare products Regulatory Agency (MHRA) in the U.K.
• Approximately 350 outpatients with COVID-19 who are asymptomatic or have mild symptoms will be enrolled in this large trial evaluating COVIDROPS doses of 10 mg or 20 mg against placebo. 
• A previously completed safety study conducted in the U.S. at doses up to 60 mg in healthy subjects showed a comparable safety profile to placebo. All reported adverse effects were mild in severity. 
• COVIDROPS is administered as a simple intranasal instillation into each nostril to recently infected subjects. 
• The neutralizing antibody drug substance is the same antibody as COVI-AMG, a high potency/low dose IV push injection. 
• Price Action: SRNE shares are up 7.32% at $8.94 during the market session on the last check Wednesday.