SRNE - Sorrento Therapeutics down following R&D investor update on COVID-19

Sorrento's ([[SRNE]] -13.2%) stock shows weakness, as investors appear to be disappointed at the company's COVID-19 pipeline and R&D update yesterday, as some shareholders seemingly had high hopes on announcement of groundbreaking news, at this highly anticipated event.While Sorrento's management did discuss the progress of its broad COVID-19 pipeline, but did not provide any real insight into when any of these product candidates might be ready for public consumption.Separately, the Brazilian regulatory agency ((ANVISA)) has signed-off Phase 2 trial evaluating Sorrento's abivertinib in mild, moderate and severe COVID-19 patients.The 400-subject study will evaluate the safety and efficacy of STI-5656 (Abivertinib Maleate) in hospitalized COVID-19 patients.The dose to be tested is the same as in the U.S. Phase 2 trial, but the trial protocol in Brazil includes patients at earlier stages of the disease, with a drug administration regimen of only 7 days (versus 14 days for more advanced patients in the U.S.).Primary endpoint of the study is

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Sorrento Therapeutics down following R&D investor update on COVID-19