SORRENTO THERAPEUTICS INC - SRNE STOCK NEWS

Sorrento Therapeutics has successfully completed enrollment in its Phase 1b trial of COVI-MSC infusions for patients with COVID-19 induced acute respiratory failure. The study, involving 10 patients, achieved its primary safety objective with no adverse events reported. All participants were discharged within three days post-infusion. Sorrento aims to conduct a pivotal multi-country study to support an Emergency Use Authorization (EUA) submission after analyzing full data. This advancement may significantly impact Sorrento's position in the biopharmaceutical sector.

Scilex Holding, an over 99% owned subsidiary of Sorrento Therapeutics (NASDAQ: SRNE), received FDA approval for a supplemental new drug application (sNDA) for ZTlido®, allowing an efficacy labeling change with clinical data. ZTlido® is a unique lidocaine topical system that now includes use while showering or swimming in its FDA label, enhancing its competitive edge over traditional hydrogel systems. Clinical trials showed it can be reapplied after water exposure without increasing lidocaine plasma levels. This labeling change furthers ZTlido®'s position in pain management for post-herpetic neuralgia.

Sorrento Therapeutics (SRNE) announced its merger with ACEA Therapeutics, acquiring significant assets, including Abivertinib and AC0058, along with ACEA's extensive compound library. This merger aims to enhance Sorrento's capabilities in developing therapies for various conditions, including cancer and COVID-19. The total transaction value could reach $38 million in stock, with additional payments up to $450 million contingent on clinical milestones. Closing is expected in Q2 2021, pending regulatory approvals.

Sorrento Therapeutics (SRNE) reported positive results from its Phase 1b study of COVI-MSC™, a treatment for COVID-19-induced acute respiratory distress. All nine patients in the trial were discharged within days after their third infusion, showing significant improvements in respiratory function. No safety events were reported. The company is preparing for a Phase 2 placebo-controlled study across the US, Brazil, and Mexico, working with the FDA to support emergency use authorization.

Sorrento Therapeutics (SRNE) announced the initiation of a Phase 1b study for STI-6129, an antibody-drug conjugate targeting Amyloid Light Chain (AL) Amyloidosis. The trial aims to determine a Phase 2 dosage based on safety and efficacy in patients with advanced relapsed AL Amyloidosis. STI-6129 utilizes a proprietary C-LOCK chemical linker to reduce toxicity compared to traditional ADCs and may offer a first-line treatment option for patients resistant to daratumumab. This milestone follows delays attributed to COVID-19.

Sorrento Therapeutics (Nasdaq: SRNE) announced that Dr. Henry Ji, Chairman and CEO, will participate in the CEO Roundtable during the WuXi Healthcare Forum 2021 on March 16, 2021. Dr. Ji will provide updates on Sorrento's clinical programs, with management available for Q&A. Interested investors can register here.

Sorrento Therapeutics (Nasdaq: SRNE) announced advancements in developing COVISHIELD, a combination of monoclonal antibodies targeting COVID-19 variants. The company secured an Exclusive License Agreement with Mount Sinai for antibodies with SARS-CoV-2 neutralizing properties. Pre-clinical development is ongoing, including both intravenous and intranasal therapies. Sorrento is also progressing with STI-2020 and STI-2099, currently in Phase 1 and 2 studies. The collaboration aims to enhance pandemic readiness by providing effective treatments for existing and emerging COVID-19 variants.

China Oncology Focus Limited (COF) has received clearance from China's NMPA to conduct a Phase III clinical trial of Socazolimab, an anti-PD-L1 antibody, in combination with chemotherapy for treating extensive-stage small-cell lung cancer. This follows promising results from a Phase Ib trial. Socazolimab, licensed from Sorrento (SRNE), has shown a favorable safety and efficacy profile. Lee’s Pharm plans to file a New Drug Application for Socazolimab in recurrent cervical cancer in Q2 2021, further establishing its position in the oncology market.

Sorrento Therapeutics, Inc. (Nasdaq: SRNE) announced that Dr. Henry Ji, Chairman and CEO, will participate in the H.C. Wainwright Global Life Sciences 2021 Virtual Conference. The corporate presentation will be accessible on-demand for 90 days starting on March 9, 2021. Sorrento is focused on developing therapies for cancer and COVID-19, leveraging its immuno-oncology platforms and antiviral treatments. The company is also advancing non-opioid pain management solutions and has several clinical trials in progress, including a pivotal Phase 3 trial for SEMDEXA.