SRNE - Sorrento up 7% on discovery of small molecule coronavirus inhibitor

Sorrento Therapeutics ([[SRNE]] +7.4%) perks up, albeit on below-average volume, in reaction to its announcement that it has discovered a small molecule named Salicyn-30 that, it says, produced a 3-4 log (1,000x - 10,000x) reduction in SARS-CoV-2 viral load in a cell model.It identified Salicyn-30, a compound called a salicylanilide, a cousin of salicylic acid, an anti-inflammatory and antibacterial agent, as a result of its drug repurposing strategy aimed at identifying potential treatments for COVID-19.The company says Salicyn-30 can potentially be administered alone or in combination with STI-1499, a neutralizing antibody that it has touted as a cure, claiming that it totally inhibits the coronavirus (if this was true, then there would little need for Salicyn-30).Chairman and CEO Henry Ji says, “Salicyn-30 has shown exceptional therapeutic potential, it is orally available and has greater systemic exposure besides being more potent than niclosamides (different type of salicylanilide) in preclinical trials to

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Sorrento up 7% on discovery of small molecule coronavirus inhibitor