Sorrento down after corporate presentation on pipeline

Sorrento Therapeutics (SRNE -14.7%) is under pressure, albeit on below-average volume, following yesterday’s corporate overview by chief Henry Ji, Ph.D. Highlights:

COVID-19: Prevention: Vaccine candidate T-VIVA-19 employs a fusion protein, rS1-Fc, that targets Fc receptor-expressing antigen-presenting cells for induction of neutralizing antibodies and T cell responses.

Detection: COVI-TRACK test detects IgG and IgM antibodies in peripheral blood in ~eight minutes with sensitivity of 94% and specificity of 97%. COVI-TRACE detects the presence of SARS-CoV-2 in saliva in ~30 minutes. Both are visually interpreted and require no instrumentation.

Early intervention: COVI-GUARD (STI-1499) neutralizing antibody that binds to the S1 subunit of the SARS-CoV-2 spike protein (Dr. Ji called it a “cure” in May causing shares to rally).

Rescue intervention: Abivertinib, a tyrosine kinase inhibitor (TKI) exclusively licensed worldwide, except China, from ACEA Therapeutics. A Phase 2 study in hospitalized patients is next up.

Oncology pipeline: Most advanced candidate is Phase 3-stage abivertinib for NSCLC. Three other programs in Phase 1: CD38 CAR T in multiple myeloma, CD38 antibody-drug conjugate in amyloidosis and seprehvir in solid tumors.

Resiniferatoxin, an agonist of a protein called transient receptor potential cation channel subfamily V member 1 (TRPV1), in early-stage development for cancer pain and pain associated osteoarthritis of the knee.

https://seekingalpha.com/news/3611784-sorrento-down-15-after-corporate-presentation-on-pipeline