SRNE - Sorrento's STI-2020 maintains binding potency against COVID-19 variant

Sorrento Therapeutics (SRNE) will present preliminary results from an ongoing SARS-CoV-2 mutation surveillance program on Thursday, January 21 at 2:45 PM PST. 'An Antibody’s Story: A Journey from Phage Library to an IND of STI 1499,' will be discussed.The company says data provide evidence that STI-2020 maintains binding potency in assays including the Spike amino acid changes found in the U.K. SARS-CoV-2 variant.This is highly clinically relevant as it might signify that the STI-2020 antibody is not anticipated to behave differently against the new virus variant. Sorrento will also provide early in vitro results of diminished STI-2020 binding potency in assays including Spike proteins derived from viruses of the B.1.351 lineage first identified in South Africa. The company believes it has in place highly potent antibodies against the most recent U.K. and South Africa viral variants for inclusion in COVI-SHIELD-2021.Also, analysts project that Sorrento's value could quadruple.Shares up 8% premarket.

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Sorrento's STI-2020 maintains binding potency against COVID-19 variant