SRNE - Sorrento shares up 9% on positive COVI-MSC study data

Sorrento Therapeutics (SRNE) reports positive preliminary results from Phase 1b study of human allogeneic adipose-derived mesenchymal stem cells (COVI-MSC) for patients suffering with COVID-19-induced acute respiratory distress or syndrome ((ARDS)).The primary objective of the study is to evaluate the safety of intravenous infusion of allogeneic adipose MSC cells in patients with COVID-19. The first three patients enrolled tolerated treatment well and improved rapidly.Each of the three patients was discharged from the hospital within a week of starting the patient’s COVI-MSC infusions.Two patients were discharged on the day of their last infusion.A fourth patient is currently at the beginning of a course of treatment, with no safety issues following first infusion.No patient reported any infusion-related adverse events. Additional enrollment continues.Shares up 9% after-hours.

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Sorrento shares up 9% on positive COVI-MSC study data