SRNE - Sorrento rises 6% as FDA OKs phase 2 study of monoclonal antibody for carcinoma

The FDA has given Sorrento Therapeutics (SRNE) the green light to commence a phase 2 study of STI-3031, a monoclonal antibody ("mAb") for advanced urothelial carcinoma.The anti-PD-L1 mAb was licensed to ImmuneOncia, a joint venture between Sorrento and South Korea-based Yuhan Corp.ImmuneOncia is close to completing a phase 2, open-label study of STI-3031 in patients with resectable gastric cancer, esophageal cancer and liver cancer.Sorrento shares are up 6% to $8.90 in afternoon trading.

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Sorrento rises 6% as FDA OKs phase 2 study of monoclonal antibody for carcinoma