SRNE - Sorrento rises on U.K. regulatory clearance of mid-stage trial for COVID-19 therapy

loops7/E+ via Getty Images Sorrento Therapeutics (SRNE) has risen ~3.5% in extended trading after announcing that the company received regulatory clearance in the U.K. to start a Phase 2 efficacy trial for its COVI-DROPS product candidate. The decision by the Medicines and Healthcare products Regulatory Agency ((MHRA)) was supported by a trial conducted in the U.S. on healthy subjects where COVI-DROPS indicated a safety profile comparable to placebo with doses up to 60 mg, the company said. The large double-blind efficacy trial is expected to enroll 350 COVID-19 outpatients with asymptomatic or mild symptoms of the disease. The company anticipates seeking the Emergency Use Authorization in several countries including the U.S. and U.K. after combining the U.K trial data with those from two other Phase 2 studies currently in progress in the U.S. and Mexico.

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Sorrento rises on U.K. regulatory clearance of mid-stage trial for COVID-19 therapy