Sorrento Therapeutics Soars on Upbeat Results of Preclinical COVID-19 Virus Antibody

Shares of biopharmaceutical company Sorrento Therapeutics were soaring higher on high trading volume on Friday after Wall Street learned of an upbeat assessment from the company over results of a preclinical experiment of its COVID-19 virus antibody.

The stock jumped 153% as a result and the stock was the most actively traded on major U.S. exchanges.
The company revealed that after four days of incubation, its STI-1499 antibody demonstrated 100% inhibition of the COVID-19 virus infection of healthy cells.

According to the company’s press release, Sorrento has been diligently screening billions of antibodies in its proprietary G-MAB™ fully human antibody library and has so far identified hundreds of antibody candidates that bind the S1 subunit of the SARS-CoV-2 Spike protein.

The company went on to say that approximately one dozen of these antibodies have demonstrated the ability to block the S1 protein’s interaction with human angiotensin-converting enzyme 2 (ACE2), the receptor used for viral entrance into human cells. Furthermore, these blocking antibodies were further tested for their ability to inhibit SARS-CoV-2 virus infection in an in vitro SARS-CoV-2 virus infection model pursuant to a preclinical testing agreement for COVID-19 therapeutic candidates that was previously announced on March 31, 2020 (Sorrento Therapeutics).

Among the antibodies showing neutralizing activity, one antibody stood out for its ability to completely block SARS-CoV-2 infection of healthy cells in the experiments, said Sorrento. STI-1499 completely neutralized the virus infectivity at a very low antibody dose, making it a prime candidate for further testing and development. Initial biochemical and biophysical analyses also indicate STI-1499 is a potentially strong antibody drug candidate, the company also added.

“Our STI-1499 antibody shows exceptional therapeutic potential and could potentially save lives following receipt of necessary regulatory approvals. We at Sorrento are working day and night to complete the steps necessary to get this product candidate approved and available to the waiting public,” stated Dr. Henry Ji, Chairman and CEO of Sorrento.

Disclaimer: We have no position in Sorrento Therapeutics, Inc. (NASDAQ: SRNE) and have not been compensated for this article.