The Chairman and Chief Executive Officer of Sorrento Therapeutics Inc (NASDAQ:SRNE), Dr. Henry Ji is reassuring the shareholders in the aftermath of short seller opinion on the stock. There has been a negative opinion about shareholder value of the stock as well as undermining the ability of the management and the company as well.
He rubbished the rumors churning in the market and in online news media about Sorrento. He is fully confident and has full faith in the current team at Sorrento to execute the current strategic plans and continue with development efforts. A brief update of his speech reassuring the investors on Sorrento is given below:
- Both South Korea (February 5, 2018) and China (January 28, 2018) has accepted the INDs of Sorrento for the partnered PD-L1 antibodies. The team is currently recruiting the patients for the clinical trial.
- The tropical lidocaine system Ztlido has got the nod of NDA on February 28 2018.
- IND submission of CD38 CAR-T, one of the leading programs, is completed on March 8, 2018.
- The phase 1 of the clinical trial is completed on March 12, 2018, and initiated the phase 2 of epidural RTX clinical trial for the treatment of intractable cancer pain.
The recently completed financing and from the above, the Sorrento is moving ahead into the commercialization efforts. The company is also entering into strategic alliances to accomplish the committed objectives. Sorrento is also advancing the clinical stage assets that include:
- The phase 1 clinical trial of the 1H18 CD38 CAR-T for refractory or relapsed multiple myeloma is in progress in association with Celularity Inc.
- IND filing of 1H18 RTX and the enrollment of the first patient for the treatment of intra-articular osteoarthritis pain.
- The Clinical trial 2H18 for the treatment of the solid tumors using CEA CAR-T and oncolytic virus Seprehvir.
- The phase 1b clinical trial 2H18 for primary solid tumors in the liver using CEA CAR-T.
The company will provide timely updates on the progress of the ongoing clinical trials and the status of the strategic alliances.
A brief information about Sorrento Therapeutics Inc
Sorrento Therapeutics Inc is an antibody centric, clinical stage and biopharmaceutical firm. The company is engaged in the development of therapies to change the malignant cancer into a curable or manageable disease.
The current market worth of Sorrento Therapeutics Inc is $440.08 million.