SORRENTO THERAPEUTICS INC - SRNE STOCK NEWS

Sorrento Therapeutics, Inc. (Nasdaq: SRNE) announced the peer-reviewed publication of novel SARS-CoV-2 M^Pro inhibitors, including MPI8, which shows high potency in inhibiting both M^Pro and cathepsin L, vital for SARS-CoV-2 entry. MPI8 is a promising candidate in the late pre-clinical stage for treating COVID-19, including emerging variants like Omicron. Sorrento collaborates with Texas A&M University to develop these oral antiviral drugs, aiming to create a 'mutation-agnostic' global anti-COVID strategy.

Sorrento Therapeutics, Inc. (NASDAQ: SRNE) announced that Dr. Henry Ji, its Chairman and CEO, will present at the Evercore ISI 4th Annual HealthCONx Conference scheduled for December 1, 2021, from 3:30 PM to 3:50 PM EST. A registration link is available for attendees. The company focuses on developing therapies for cancer, pain management, autoimmune disease, and COVID-19, utilizing advanced platforms like fully human antibodies and antiviral therapies. An updated corporate presentation will also be accessible on their website.

Sorrento Therapeutics, Inc. (SRNE) announced the release of a teaser titled “Abivertinib – a Franchise Oral Therapeutic for Cancer, COVID-19 and Autoimmune Diseases.” Key highlights include completed Phase 2 trials showing Abivertinib reduces death or respiratory failure risk by 48% in US COVID-19 patients and improves ICU stays. In cancer trials, 93.3% of NSCLC patients experienced tumor shrinkage. Sorrento aims to engage pharmaceutical partners to discuss the therapeutic's potential across multiple diseases in a $61 billion market.

Sorrento Therapeutics (Nasdaq: SRNE) has signed a contract with a local distributor to supply up to 5 million COVI-STIX tests in Mexico. Launched in July, the rapid COVID-19 antigen test has shown a sensitivity of approximately 90% in clinical evaluations, significantly outperforming other tests. The COVI-STIX test is particularly suited for large-scale screenings at events and gatherings. Its effectiveness was highlighted at the recent World Boxing Council Convention in Mexico City, underscoring its relevance amidst ongoing public health needs.

Sorrento Therapeutics (Nasdaq: SRNE) has announced that its COVI-STIX COVID-19 Virus Rapid Antigen Detection Test will be utilized for screening attendees at the 59th World Boxing Council Annual Convention in Mexico City, from November 14 to 18, 2021. The collaboration with the WBC underscores Sorrento's commitment to enhancing safety in public events through effective testing solutions. The COVI-STIX tests will be administered before registration, providing travel certificates to foreign visitors. Notable boxing stars will attend the convention, promoting the importance of testing in ensuring public safety during events.

Sorrento Therapeutics, Inc. (Nasdaq: SRNE) announced significant results from a pivotal study of abivertinib, a third-generation EGFR and BTK inhibitor, in 227 heavily pretreated NSCLC patients. The study reported a confirmed overall response rate (ORR) of 52.2% and a disease control rate (DCR) of 88.0%. The median overall survival (OS) was noted at 24.9 months. Following these results, Sorrento plans to conduct an independent review with more mature data and seeks a pre-NDA meeting with the FDA.

Sorrento Therapeutics (Nasdaq: SRNE) announced the approval of a California Competes Tax Credit Allocation Agreement, providing up to $25 million in tax credits from California's Governor’s Office of Business and Economic Development. This allocation is contingent upon meeting specific milestones and aims to support Sorrento's growth and expansion in California. The company is also expanding its facilities with a new 163,000 square-foot facility in Sorrento Mesa, enhancing its operations and job creation in the life sciences sector.

Sorrento Therapeutics has received approval from ANVISA for its rapid COVID-19 diagnostic test, COVISTIX, which is designed for symptomatic patients in Brazil. This manufacturing and marketing authorization is crucial as Brazil copes with approximately 20,000 new COVID-19 cases daily. A distribution agreement is already established, and initial purchase orders are pending. COVISTIX is expected to enhance Brazil's testing capabilities significantly, providing results in about 15 minutes, and has shown superior sensitivity compared to a leading U.S. test in field studies.

Sorrento Therapeutics, Inc. (Nasdaq: SRNE) announced that its license partner, China Oncology Focus Limited (COF), has submitted a NDA for its anti-PD-L1 antibody, socazolimab, for treating recurrent or metastatic cervical cancer. The application has been accepted by the China National Medical Products Administration (NMPA). Socazolimab, which received breakthrough designation in February 2021, could become the first approved fully human antibody from Sorrento's G-MAB™ library. This antibody shows potential advantages, including minimal immunogenicity and a dual mechanism of action.