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Wednesday, January 29, 2020

Sorrento up 8% premarket on pact to develop coronavirus treatment

Sorrento Therapeutics (NASDAQ:SRNE) will collaborate with long-time partner Celularity to expand the therapeutic use of the latter’s allogeneic, off-the-shelf, placental-derived natural killer (NK) cell therapy, CYNK-001, to the prevention and treatment of coronavirus infection, focusing on the virus responsible for the current outbreak, 2019-nCoV.
The company says it is in contact with leading scientists and local Chinese experts to discuss the clinical validation and logistics required to fast track the candidate.
Sorrento owns 25% of Celularity.
Shares up 8% premarket on modestly higher volume.

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