Sorrento Therapeutics Inc

Sorrento Therapeutics, Inc. engages in the research, development and manufacture of biopharmaceutical products. It focuses on therapies to treat specific stages in the evolution of cancer, from elimination, to equilibrium and escape which include biosimilars, immuno-oncology antibodies, cellular therapy, cell internalizing antibodies, and antibody drug conjugates. It operates through the Sorrento Therapeutics and Scilex segments. The company was founded by Henry H. Ji in 1989 and is headquartered in San Diego, CA.

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Sorrento Therapeutics, Inc. engages in the research, development, and manufacture of biopharmaceutical products. It operates through the Sorrento Therapeutics and Scilex segments. The Sorrento Therapeutics segment consists of developing a portfolio of next generation treatments for three major therapeutic areas: cancer, infectious disease, and pain. The Scilex segment is largely organized around the company's non-opioid pain management operations. The company was founded by Henry H. Ji in 1989 and is headquartered in San Diego, CA.

This deep into the pandemic, positive vaccine or testing-related news doesn't always elicit the same type of reaction as in the early stages of the virus. A good example of this is the price action in Sorrento Therapeutics Inc. (NASDAQ: SRNE), which is the PreMarket Prep Stock Of The Day.

PreMarket Prep Stock Of The Day: Sorrento Therapeutics

Sorrento Therapeutics Inc. SRNE, -1.57% said Monday that "initial" laboratory testing of its Covistix COVID-19 virus rapid antigen detection test "significantly outperforms" in the detection of the omicron variant. The stock slipped 1.1% in morning trading.

Sorrento Therapeutics' Covistix rapid tests outperforms in detecting omicron variant in initial lab tests

Sorrento Therapeutics Inc. SRNE, +1.05% announced Monday a contract for the sale and distribution of up to 10 million its Covistix rapid COVID-19 virus detection tests in Mexico. That follows a previously announced deal for up to 5 million Covistix tests in Mexico, bringing the total number of tests to 15 million.

Sorrento Therapeutics triples number of its rapid COVID-19 tests distributed in Mexico

SAN DIEGO, Dec. 27, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) announced today that initial testing of COVISTIX on recombinant N proteins demonstrated its ability to detect the Omicron variant, in addition to detecting the original SARS-CoV-2 virus and its other major VoCs such as the delta and delta-plus strains. The COVISTIX detection levels were similar for all variants. The ease of use and timely detection of Omicron infection was demonstrated by a recent case report of a Mexico patient infected with the Omicron variant detected first with COVISTIX in about 15-minutes test time. This result was confirmed a day later by RT-PCR and sequence verified a few days later to be Omicron infection.

Sorrento Announces COVISTIX COVID-19 Virus Rapid Antigen Detection Test Detects the Omicron Variant

SAN DIEGO and MEXICO CITY, Dec. 27, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) announced today its subsidiary, Sorrento Therapeutics Mexico (“Sorrento Mexico”), has executed a second contract with a large distributor for the sale and distribution of up to 10 million COVISTIX™ tests for the Mexican market. Sorrento previously announced that Sorrento Mexico had signed a contract with a leading local distributor for up to 5 million COVISTIX tests in Mexico, bringing the total number of tests to 15 million to date.

Sorrento Therapeutics Mexico Executes Second Contract for Sale of 10 Million COVISTIX Tests for Mexico Market

SAN DIEGO, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced that the U.S. Food and Drug Administration (FDA) has granted clearance to proceed with a Phase 1b clinical trial using STI-1386, Seprehvec™, entitled “Dose Escalation Study of the Safety and Preliminary Efficacy of STI-1386 Oncolytic Virus in Patients with Relapsed or Refractory Solid Tumors.”

Sorrento Therapeutics Announces FDA Clearance of Its IND Application of Next Generation oHSV Oncolytic Virus STI-1386 for Patients With Relapsed and Refractory Solid Tumors

Investors need to pay close attention to Sorrento Therapeutics (SRNE) stock based on the movements in the options market lately.

Implied Volatility Surging for Sorrento Therapeutics (SRNE) Stock Options

The stock price of Sorrento Therapeutics Inc (NASDAQ: SRNE) increased by over 24% this past week. This is why it happened.

Sorrento Therapeutics Stock (SRNE): Why The Price Jumped This Week

PALO ALTO, Calif., Dec. 09, 2021 (GLOBE NEWSWIRE) -- Scilex Holding Company (“Scilex”), a subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), today announced highly significant positive top-line results from its SP-102 (SEMDEXA™) Phase 3 Pivotal Trial C.L.E.A.R. Program, a corticosteroid injectable dexamethasone sodium phosphate viscous gel for the treatment of lumbosacral radicular pain, or sciatica.   SP-102 (SEMDEXA™) has received Fast Track status from the FDA.

Scilex Holding Company, a Sorrento Therapeutics, Inc. Subsidiary, Announces Highly Significant Positive Top-Line Results from its Phase 3 Non-Opioid Injectable SP-102 (SEMDEXA™) Pivotal Trial C.L.E.A.R. Program for Sciatica Pain Management Supporting the 

The stock price of Sorrento Therapeutics Inc (NASDAQ: SRNE) increased by over 13% today. This is why it happened.

Sorrento Therapeutics Stock (SRNE): Why The Price Jumped Today

SAN DIEGO, Dec. 07, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced that the Phase 2 clinical study of RTX for treating knee pain from osteoarthritis (OA) has begun enrollment. This study is a multi-center, double blind, placebo- and active-controlled study to assess the safety and efficacy of several dose levels of RTX to manage pain in patients associated with moderate-to-severe OA of the knee (clinicaltrials.gov: NCT04885972). Given the durability of the OA pain relief response to RTX demonstrated thus far, the study includes an active comparator (injectable corticosteroid) to demonstrate superiority and duration of the RTX efficacy response. All patients will be followed for at least one year.

Sorrento Begins Enrollment in Phase 2 Trial of Resiniferatoxin (RTX) for the Treatment of Pain Due to Knee Osteoarthritis (OA)

Sorrento has received accreditation from the American College of Pathologists, which allows Sorrento to bill to Medicare and Medicaid Sorrento has received accreditation from the American College of Pathologists, which allows Sorrento to bill to Medicare and Medicaid

Sorrento Therapeutics' Clinical Laboratory Receives Accreditation From the College of American Pathologists

SAN DIEGO, Dec. 06, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) announced today that initial loading orders have been processed and scheduled for delivery later this year. The initial shipment will establish an in-country safety stock to manage just in time ongoing deliveries to local clients.

Sorrento Receives Orders of COVISTIX for Commercial Launch in Brazil

PALO ALTO, Calif., Dec. 06, 2021 (GLOBE NEWSWIRE) -- Scilex Holding Company (“Scilex”), a subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), and Vickers Vantage Corp. I, a Cayman Islands corporation (NASDAQ: VCKA) (“SPAC”), today announced the signing of a letter of intent for a proposed business combination.

Scilex Holding Company, a Sorrento Therapeutics Inc. Subsidiary, and Vickers Vantage Corp I (NASDAQ: VCKA) (“SPAC”) Enter into Letter of Intent for Proposed Business Combination

The stock price of Sorrento Therapeutics, Inc. (Nasdaq: SRNE) increased by over 6% pre-market today. This is why it happened.

Sorrento Therapeutics Stock (SRNE): Why The Price Increased Today

SAN DIEGO, Dec. 05, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) today announced the peer-reviewed publication of a series of novel SARS-CoV-2 MPro inhibitors with potent activities for both MPro and cathepsin L, a key host enzyme for SARS-CoV-2 entry into host cells, authored by Dr. Wenshe Ray Liu, professor at Texas A&M University.

Sorrento Announces Publication of a Series of Novel SARS-CoV-2 Main Protease (MPRO) Inhibitors for Potential Treatment of COVID-19 Patients Infected With SARS-CoV-2 Variants Of Concern, Including Omicron

SAN DIEGO, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (NASDAQ: SRNE, "Sorrento"), announced today that Dr. Henry Ji, Chairman and CEO, will participate in the following upcoming conference:

Dr. Henry Ji to Participate in the CEO Fireside Chat Evercore ISI 4th Annual HealthCONx Conference

SAN DIEGO, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced the publication of a Teaser titled “Abivertinib – a Franchise Oral Therapeutic for Cancer, COVID-19 and Autoimmune Diseases” (“Abivertinib Teaser”). Sorrento intends to use the Abivertinib Teaser to engage in discussions with interested third parties in the pharmaceutical industry.

Sorrento Publishes an Abivertinib Teaser Entitled “Abivertinib – A Franchise Oral Therapeutic for Cancer, COVID-19 and Autoimmune Diseases”

SAN DIEGO and MEXICO CITY, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) announced today its subsidiary, Sorrento Therapeutics Mexico, has executed a contract with a leading local distributor for the sale and distribution of up to 5 million COVI-STIX™ tests for the Mexican market. Since its commercial launch in July, the COVI-STIX COVID-19 Virus Rapid Antigen Detection Test has been well received for its ease of use and rapid generation of results. In addition, independent clinical testing by a leading Mexican national institute demonstrated very high sensitivity of around 90% when tested for all-comers, including asymptomatic COVID-19 virus carriers, while most of the other rapid COVID-19 virus antigen tests evaluated failed to achieve sensitivity above 62%. The rapid COVI-STIX test provides a much needed tool to mass screen the population for sports events, school attendance and all other family and social gatherings. The COVI-STIX test was the test of choice during the 59th World Boxing Council Convention in Mexico City this past week.

Sorrento Therapeutics Mexico Executes Contract for Sale of 5 Million COVI-STIX Tests for Mexico Market

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Sorrento Therapeutics released its Q3-2021 results. COVISTIX received "CE" Mark and approval for marketing in Belgium.

Sorrento Therapeutics: COVISTIX Will Support The Growth

SAN DIEGO and MEXICO CITY, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) and the World Boxing Council (“WBC”) announced today that Sorrento's COVI-STIX COVID-19 Virus Rapid Antigen Detection Test (“COVI-STIX”) will be used for screening all attendees of the upcoming 59th World Boxing Council Annual Convention in Mexico City, Mexico (November 14th through November 18th).

Sorrento Therapeutics Mexico to Partner with the World Boxing Council for the Screening of COVID-19 of all Convention Attendees with COVI-STIX at the 59th World Boxing Council Convention in Mexico City

SAN DIEGO, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced the peer-reviewed publication of significant results from a pivotal study of abivertinib on 227 heavily pretreated NSCLC patients in the journal Clinical Cancer Research, authored by Dr. Yi-Long Wu, distinguished professor of Guangdong Lung Cancer Institute, awardee of the prestigious “International Association for the Study of Lung Cancer (IASLC) Scientific Award” in 2017, and the principal investigator of the study.

Sorrento Announces Publication of Significant Positive Pivotal Trial Results of Abivertinib for the Treatment of Non-Small Cell Lung Cancer (NSCLC) in the Peer-Reviewed Journal Clinical Cancer Research

SAN DIEGO, Nov. 07, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced that the California Competes Tax Credit Committee has approved the California Competes Tax Credit Allocation Agreement (the “Agreement”) between Sorrento and the California Governor's Office of Business and Economic Development (“GO-Biz”). Pursuant to the Agreement, Sorrento has been awarded, subject to the satisfaction of certain milestones specified in the Agreement, an income tax credit from the State of California in an aggregate amount of up to $25,000,000. This incentivized credit is expected to support Sorrento's vision of growth and expansion within the State of California.

Sorrento Awarded California Competes Tax Credit

SAN DIEGO, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) today announced receipt of approval from the Brazilian regulatory agency (ANVISA) for COVISTIX in Brazil.

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