Sorrento Therapeutics, Inc. (NASDAQ: SRNE) shares eke ahead Thursday, on word that the U.S. Food and Drug Administration has given clearance for Sorrento to commence the Phase 3 clinical trial of Abivertinib in severe COVID-19 patients (hospitalized patients with respiratory compromise requiring oxygen supplementation).
The clinical trial will be conducted in two phases, and the initial run-in will define the RP3D.
In October 2021, Sorrento released preliminary results of two phase 2 studies that seemed to show that patients hospitalized with severe pneumonia due to COVID-19, especially those requiring non-invasive ventilation or high flow oxygen supplementation, were up to five-fold more likely to benefit from Abivertinib therapy than those patients who required low flow supplementation. Such patients represent a high-risk population with few treatment options.
The study will be conducted at multiple sites in the U.S., Mexico and Brazil. "We are encouraged by the results from our Phase 2 study, and excited to move Abivertinib to the next stage to help these patients who have no good alternatives,”"said CEO Dr. Henry Ji.
Sorrento believes the availability of an oral dosage form to manage inflammatory disease progression is very relevant for severely afflicted patients with COVID-19-induced respiratory failure and potentially non-COVID acute respiratory distress syndrome. This treatment has the potential to provide significant benefits across the globe with respect to logistical access, scalability and affordability by potentially providing a treatment in a convenient oral dosage form.
SRNE shares acquired two cents at Thursday’s open to $2.39.
