SORRENTO THERAPEUTICS INC - SRNE STOCK NEWS

Scilex Holding Company, a subsidiary of Sorrento, announced promising results from a Phase 1 clinical trial of SP-104, a low dose naltrexone formulation aimed at treating fibromyalgia (FM). The trial showed lower adverse event rates compared to immediate release naltrexone. Given the significant unmet medical need for effective FM treatments for over 200 million patients globally, Scilex plans to initiate Phase 2 trials in late 2022. The company also highlighted the potential of SP-104 to improve patient compliance and treatment outcomes.

Scilex Holding Company, a Sorrento subsidiary, presented positive Phase 3 data for SP-102 (SEMDEXA™) at the ASIPP annual meeting, showing significant pain reduction in sciatica patients. The trial enrolled 401 patients and demonstrated a highly statistically significant reduction in average daily leg pain (p<0.001) with prolonged effects lasting up to 99 days post-injection. The Oswestry Disability Index showed a 28% improvement at 4 weeks. Safety analysis revealed no serious adverse events or safety risks associated with the drug, indicating strong potential for FDA approval.

Sorrento Therapeutics (Nasdaq: SRNE) announced promising Phase 1 data for its anti-HER2 antibody drug conjugate (ADC), A166, presented at the Chinese Society of Clinical Oncology Guideline Conference. A166 demonstrated a 73.9% overall response rate (ORR) at a dosage of 4.8 mg/kg, significantly outperforming Kadcyla's 31.3% ORR. Additionally, A166's progression-free survival (PFS) was 12.3 months compared to Kadcyla's 6 months. This third-generation ADC, developed in partnership with Sichuan Kelun-Biotech, utilizes innovative proprietary technologies from Levena Biopharma.

Sorrento Therapeutics (SRNE) announced the completion of enrollment in a Phase I safety study for its intranasal drug STI-9199, with only five minor adverse events reported thus far. This study, which had swift enrollment, mirrors the safety profile observed in previous trials of STI-2099. STI-9199 has shown promising in vitro and in vivo efficacy against various SARS-CoV-2 variants, including Omicron. The company plans to initiate Phase II/III studies in the US, China, and Mexico to support Emergency Use Authorization submissions.

Scilex Holding Company, a subsidiary of Sorrento Therapeutics (SRNE), announced the appointment of Elizabeth Czerepak as Executive Vice President, Chief Financial Officer, and Chief Business Officer, effective May 18, 2022. Czerepak brings over 35 years of finance experience, previously serving as CFO at BeyondSpring and Genevant Sciences. Her expertise aligns with Scilex's mission to develop non-opioid therapies for pain management, particularly after promising results from the Phase III trial for SEMDEXA™. This leadership change aims to enhance financial strategy and shareholder value.

Scilex Holding Company, a subsidiary of Sorrento Therapeutics (Nasdaq: SRNE), will present efficacy and safety data for SP-102 (SEMDEXA™) from its Phase 3 clinical C.L.E.A.R trial at the American Society of Interventional Pain Physicians meeting on May 5, 2022. This trial, the largest of its kind for sciatica, involved 401 patients across 40 sites. The presentation will outline the trial's outcomes, with hopes for FDA approval, which would mark the first corticosteroid approved for epidural injections, potentially revolutionizing pain management for radiculopathy patients.

Scilex Holding Company, a subsidiary of Sorrento Therapeutics (Nasdaq: SRNE), announced an expansion of its direct distribution network to enhance control over the supply chain for its pain management products, particularly ZTlido. This strategic transition aims to streamline distribution costs and improve service to customers. The move aligns with Scilex's product launch plans and will support upcoming initiatives, including a business combination with Vickers Vantage Corp. I, expected to close in Q3 2022, potentially renaming the combined company and listing it under the ticker 'SCLX.'

Sorrento Therapeutics (Nasdaq: SRNE) has received FDA clearance for its investigational new drug application (IND) for intravenous STI-9167 (COVISHIELD™) aimed at conducting a Phase 1 safety and pharmacokinetic study in healthy volunteers. Following this, multinational Phase 2/3 trials will assess the drug's efficacy in mild to moderate COVID-19 patients. STI-9167 has shown positive in vitro and in vivo activity against various SARS-CoV-2 variants, including Omicron strains. Sorrento aims to discuss potential Emergency Use Authorization with the FDA based on trial results.

Sorrento Therapeutics (NASDAQ: SRNE) announced that Dr. Henry Ji, CEO and Chairman, will present at the B. Riley Virtual Neuro & Opthalmology Healthcare Conference on April 27, 2022, at 10:00 AM ET. The conference will feature discussions on Sorrento and Scilex's neuroscience programs and pipeline. Interested parties can access the live stream through Sorrento's website. The company is also finalizing a business combination with Vickers Vantage Corp. I, expected to close by Q3 2022, after receiving shareholder approval. This deal will rename the combined entity Scilex Holding Company.