The company claims that its COVI-TRACK in vitro diagnostic kit can detect antibodies to the SARS-CoV-2 virus in eight minutes or less. "On June 5, Sorrento announced that STI-4398, another of its potential COVID-19 therapies, had also proven highly effective in preclinical testing. Sorrento Therapeutics, Inc. 4955 Directors Place San Diego, CA 92121. ReddIt. However, this product doesn't generate much cash for Sorrento, and the company only recorded $7.7 million in revenue during the first quarter. Sorrento hopes that its rich lineup of coronavirus-related programs will bear fruit in at least one area. The company currently has just one product on the market, a treatment for pain associated with shingles called ZTlido. Email. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. "Approximately 80% of the mice's sera possessed neutralizing antibodies and completely prevented virus infection in in vitro cell cultures using 100 TCID50 viruses and VERO cells," the company said in a press release.Sorrento Therapeutics' stock rose sharply on Wednesday, after the company released promising early data on its experimental new COVID-19 vaccine. See you at the top! Twitter. Sorrento Therapeutics - We apply cutting-edge science to create innovative therapies that will improve the lives of those who suffer from cancer, intractable pain and COVID-19 It doesn't mean that the outlook for the company has changed in any way.However, Sorrento has had some news recently that could improve its prospects. Sorrento Therapeutics (NASDAQ:SRNE) first announced its plans to work on developing a COVID-19 therapy back in late January. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.Sorrento said its vaccine candidate T-VIVA-19 (targeted virus vaccine against COVID-19) induced antibodies against SARS-CoV-2, the virus that causes COVID-19, after being injected into mice. Sorrento Therapeutics (NASDAQ:SRNE) first announced its plans to work on developing a COVID-19 therapy back in late January. (TMFGuardian) You can open up a society without fear."
If the company is successful on multiple fronts, its stock could skyrocket. Sorrento Therapeutics - We apply cutting-edge science to create innovative therapies that will improve the lives of those who suffer from cancer, intractable pain and COVID-19 Shares of Sorrento Therapeutics (NASDAQ:SRNE) leapt 10.4% on Wednesday, after the biopharmaceutical company released initial pre-clinical results from its COVID-19 vaccine program. About Us Tel: (858) 203-4100 Fax: (858) 203-4028. info@sorrentotherapeutics.com Sorrento's antibody therapies certainly looked promising in preclinical testing, but it's impossible to predict, based on these results alone, whether they will be equally effective in human clinical trials. Let's conquer your financial goals together...faster. Jul 20, 2020 FDA clears Abivertinib for Phase 2 safety and efficacy study in hospitalized patients with moderate to severe COVID-19.
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Share. Considering that Sorrento has yet to even start clinical studies for these antibodies, Of course, that didn't stop some investors from loading up on shares of the company when it first announced the encouraging results of STI-1499's preclinical trials. Cumulative Growth of a $10,000 Investment in Stock AdvisorWhy Sorrento Therapeutics Stock Jumped Today @themotleyfool #stocks $SRNE Linkedin. Let's conquer your financial goals together...faster. Share. 0. Let's conquer your financial goals together...faster. The company plans to develop STI-4398 as a treatment for COVID-19 patients and as a prophylactic treatment for the disease.Sorrento also developed a diagnostic test for COVID-19.