SRNE - Sorrento files IND for antibody nasal spray for COVID-19; shares up 6%

Sorrento Therapeutics ([[SRNE]] +5.7%) has filed an Investigational New Drug ((IND)) application with the FDA seeking sign-off on the commencement of clinical development of an intranasal formulation of STI-2099, dubbed COVI-DROPS, a neutralizing anti-SARS-CoV-2 antibody, for the potential outpatient treatment of COVID-19.A Phase 1 study in healthy volunteers will be first up followed by a Phase 2 trial in ambulatory COVID-19 patients with mild or moderate symptoms (STI-2099 nasal spray to be administered alone or in combination with intravenous dosing).Chairman & CEO Dr. Henry Ji says, “We believe STI-2099 has the potential to be broadly deployable for early treatment in an outpatient setting. The intranasal route is expected to be enabled by the high potency of the antibody and is quite promising against this highly contagious respiratory pathogen. In addition, it is now understood that COVID-19 is a local and systemic disease; therefore, we believe the best course of action would

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Sorrento files IND for antibody nasal spray for COVID-19; shares up 6%