SORRENTO THERAPEUTICS INC - SRNE STOCK NEWS

Sorrento Therapeutics (NASDAQ: SRNE) announced that Dr. Henry Ji, Chairman and CEO, will participate in the HC Wainwright BIOCONNECT Virtual Conference, with presentations available from January 10 to 13, 2022. Investors can register through a provided link. The company, known for its innovative therapies in cancer, pain management, autoimmune diseases, and COVID-19, is advancing treatments like resiniferatoxin for pain and novel therapies against coronaviruses.

Additional information, including updated corporate presentations, can be found at Sorrento Therapeutics.

Sorrento Therapeutics (NASDAQ: SRNE) announced that CEO Dr. Henry Ji will join a panel discussion titled "HOW M&A SPURS INNOVATION" at the Longwood Healthcare Leaders Winter Conference on January 6 at 11:50 am PT. The panel will also feature executives from ImmunoGen, Amgen, and Daiichi Sankyo, moderated by Chad Shear. This conference is an invitation-only forum that facilitates off-the-record discussions among biopharma leaders to foster innovation and partnerships. Sorrento is focused on developing therapies for cancer, pain management, autoimmune diseases, and COVID-19.

Sorrento Therapeutics (Nasdaq: SRNE) announced that its antigen test, COVISTIX, effectively detects the Omicron variant alongside other COVID-19 variants. COVISTIX demonstrates superior sensitivity in clinical comparisons, outperforming leading global brands by approximately 20%. Currently approved in Mexico, Brazil, and possessing CE marking in Europe, Sorrento plans to build a facility in San Diego to boost production to 6 million tests monthly, targeting 30 million in total. With potential demand, capacity could rise to 50-100 million tests per month in 2022.

Sorrento Therapeutics (Nasdaq: SRNE) announced a second contract for the distribution of COVISTIX™ tests in Mexico, totaling up to 15 million tests. This contract with a large distributor follows an earlier agreement for 5 million tests. The COVISTIX COVID-19 test, launched in July, boasts a sensitivity of approximately 90%, outperforming other commercial rapid tests. These tests aim to facilitate mass COVID-19 screening for various events and gatherings.

Sorrento Therapeutics (Nasdaq: SRNE) has received FDA clearance to proceed with a Phase 1b clinical trial for STI-1386, also known as Seprehvec. This trial aims to assess the safety and preliminary efficacy of the oncolytic virus in patients with relapsed or refractory solid tumors. Seprehvec is a second-generation oncolytic herpes simplex virus, designed to target tumor cells specifically while enhancing immune responses against tumors. The company plans to initially focus on sarcomas, pancreatic carcinomas, and hepatic metastases.

Scilex Holding Company announces positive top-line results from its Phase 3 SP-102 (SEMDEXA™) C.L.E.A.R. trial for treating lumbosacral radicular pain (sciatica). SP-102 has achieved FDA Fast Track status. The trial met its primary and key secondary endpoints with significant statistical outcomes: a -1.08 change in average daily pain and a -6.28 change in the Oswestry Disability Index compared to placebo, both with p-values <0.001. This could lead to FDA approval for the first non-opioid epidural injection for sciatica, potentially replacing millions of off-label procedures annually.

Sorrento Therapeutics announced the initiation of its Phase 2 clinical trial for RTX in treating knee osteoarthritis (OA) pain, successfully enrolling its first two patients. Phase 1b data showed significant efficacy, with patients reporting pain relief lasting beyond six months and some benefiting for over three years. RTX is positioned as a potential leader in non-opioid pain management, with expectations of a market exceeding $10 billion by 2025. This trial follows a robust Phase 1b study and includes an active comparator to assess RTX's effectiveness against injectable corticosteroids.

Sorrento Therapeutics has received accreditation from the American College of Pathologists (CAP), allowing the company to bill Medicare and Medicaid for laboratory services. This accreditation follows a rigorous inspection and enhances Sorrento's CLIA capabilities, supporting timely clinical studies across its product pipeline. Sorrento's clinical lab is among over 8,000 CAP-accredited facilities globally, recognized for its high standard of care. This accreditation positions Sorrento to broaden its operational capabilities in drug development.

Sorrento Therapeutics (Nasdaq: SRNE) has announced the official commercial launch of its COVISTIX™ COVID-19 Virus Rapid Antigen Detection Test in Brazil. Orders have been received from a logistics partner and a large diagnostic laboratory, aiming for initial deliveries later this month. The shipments will build an in-country safety stock to ensure timely supply for local clients. Additionally, Sorrento plans to expand its commercialization efforts into other Latin American markets that accept Brazilian-approved products.