Sorrento Gets UK Authorization To Conduct Phase 2 Trial For COVI-DROPS; Shares Up

Sorrento Therapeutics Inc.(SRNE) announced that the United Kingdom's regulatory agency has cleared Sorrento's COVI-DROPS product candidate for a Phase 2 efficacy trial.

The shares of Sorrento Therapeutics rose 5.07% after hours to $9.32 after the Medicines and Healthcare products Regulatory Agency (MHRA) cleared a Phase 2 study for COVID-19 nasal drops in newly diagnosed Covid-19 patients.

The Phase 2 efficacy trial of COVI-DROPS is a large double-blind clinical trial enrolling 350 outpatients with COVID-19 who are either asymptomatic or have mild symptoms compared with a placebo.

The company noted that this trial will complement trials in the U.S. and a separate trial in Mexico.

The COVI-DROPS is administered by intranasal drops and the antibody is active against the original SARS-CoV-2 virus, as well as the UK/Alpha and India/Delta variants, currently prevalent in the UK and US.

The results of this Phase 2 trial in the UK will be combined with the results of the US and Mexico Phase 2 trials and should the results of these studies demonstrate that COVI-DROPS is both safe and effective against SARS-CoV-2, Sorrento will apply for Emergency Use Authorization in the US, India, UK, Mexico and European Union as well as other territories.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Sturtevant, Wisconsin-based BRP U.S. Inc. is recalling around 20 models of Side-by-Side vehicles citing fire risk, the U.S. Consumer Product Safety Commission. The recall involves about 34,400 units of Model Years 2020 and 2021 Can-AM Defender HD10 side-by-side vehicles. While reporting financial results for the second quarter on Friday, technology company Honeywell international Inc. (HON) raised its adjusted earnings and sales guidance for the full-year 2021, based on the second-quarter performance and management's outlook for the remainder of the year. For fiscal... Shares of Vodafone Group Plc were gaining around 2 percent in the morning trading in London after the British telecom major reported higher revenues in its first quarter. Looking ahead, the company said it is on track to deliver fiscal year 2022 guidance, with Adjusted EBITDAaL expected to be between 15.0 billion euros - 15.4 billion euros and Adjusted free cash flow of at least 5.2 billion euros
Follow RTT