SORRENTO THERAPEUTICS INC - SRNE STOCK NEWS

Sorrento Therapeutics (SRNE) announced positive results from a pivotal study of Abivertinib, a third-generation EGFR inhibitor, in 209 advanced NSCLC patients. The study revealed an overall response rate (ORR) of 56.5%, with 11 complete responses (CR), resulting in a CR rate of 5.3% and a median overall survival (OS) of 28.2 months. The results suggest Abivertinib may outperform osimertinib in treating resistant mutations. Sorrento is now preparing for a pre-New Drug Application (NDA) meeting with the FDA and aims for regulatory approval globally.

Sorrento Therapeutics (Nasdaq: SRNE) announced the NMPA clearance for a Phase I study of its oral COVID-19 treatment, STI-1558, in China. The study will evaluate its safety, tolerability, and efficacy through a multi-dose trial in patients with mild to no symptoms. The previous single ascending dose study in Australia, which reached a maximum dose of 2000 mg, reported no serious adverse events. STI-1558 is designed to be a standalone treatment without the need for ritonavir, showcasing promising pharmacokinetic profiles.

PALO ALTO, Calif., Aug. 17, 2022 (GLOBE NEWSWIRE) -- Scilex Holding Company has signed a Product Distribution Agreement with CH Trading Group to distribute its lead product, ZTlido®, in the MENA region. This agreement aims to enhance Scilex's global outreach and facilitate Halal certification and regulatory approval. Scilex, a subsidiary of Sorrento Therapeutics (SRNE), focuses on non-opioid therapies and is actively commercializing innovative pain management solutions. The company plans to list on Nasdaq under the ticker ‘SCLX’ following a merger with Vickers Vantage Corp. I.

Scilex Holding Company, a subsidiary of Sorrento Therapeutics (NASDAQ: SRNE), announced that ZTlido^® (lidocaine topical system) 1.8% will be included in a major national PBM effective September 1, 2022, providing coverage for 30 million lives. This initiative aims to extend coverage to an additional 20 million lives. ZTlido^®, approved by the FDA in 2018 for post-herpetic neuralgia pain relief, employs proprietary ZTech technology for enhanced bioavailability.

Scilex also progresses towards a business combination with Vickers Vantage Corp. I, expected to be completed in Q3 or early Q4 2022.

Sorrento Therapeutics (SRNE) announced the successful completion of the Single Ascending Dose (SAD) phase of its Phase 1 study for STI-1558, an oral viral protease inhibitor, in Australia. The study involved four dose-escalation cohorts, with a maximum single dose of 2,000 mg and no serious adverse events reported. Preliminary pharmacokinetic data supports a twice-daily 600 mg dosing regimen. The study's next phase, Multiple Ascending Dose (MAD), has commenced with plans for a large Phase 2 study in Mexico and further trials in the US.

Sorrento Therapeutics has announced FDA clearance for the Phase 1 study of its oral SARS-CoV-2 main protease inhibitor, STI-1558, aimed at treating COVID-19. The drug, known for its dual action as both a protease and Cathepsin L inhibitor, is currently undergoing tests in Australia. Dosing has reached a maximum of 2,000 mg. Initial results show good tolerance and absorption, eliminating the need for ritonavir to manage metabolism. The study will also assess the drug's pharmacokinetics in patients with renal and hepatic impairment, paving the way for future Emergency Use Authorization.

Scilex, a majority-owned subsidiary of Sorrento Therapeutics (Nasdaq: SRNE), has proposed to acquire Ancora Medical Inc., known for its FDA-approved Ancora Nerve Block Catheter Set. This device is designed for effective surgical pain management and is expected to tap into the growing global continuous peripheral nerve block catheter market, projected to exceed $740.7 million by 2027. The acquisition aims to enhance Scilex's non-opioid pain management portfolio and position it strategically in the expanding market for pain management solutions.

Scilex Holding Company, a subsidiary of Sorrento Therapeutics (Nasdaq: SRNE), has appointed former HHS Secretary Tommy G. Thompson to its Board of Directors effective immediately. Thompson brings extensive experience in public service, including four terms as Wisconsin Governor and leadership roles in health organizations. His appointment enhances Scilex's strategic focus on non-opioid pain management therapies amidst the opioid crisis. This move aligns with Scilex's ongoing business combination agreement with Vickers Vantage Corp. I, expected to close in Q3 2022, further solidifying its position in the biopharmaceutical market.

Sorrento Therapeutics (Nasdaq: SRNE) has appointed Tommy G. Thompson, former Secretary of HHS and Governor of Wisconsin, as a special consultant focused on COVID-19 strategies. Effective immediately, Thompson brings extensive experience from his recent role as President of the University of Wisconsin System, where he ensured safe operations during the pandemic. His insights are expected to enhance Sorrento's COVID-19 program, particularly the clinical development of STI-1558, which Thompson anticipates could become a leading oral antiviral therapy against the virus.