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 date. We see high potential value for this new small molecule inhibitor of SARS-CoV-2 either as a standalone therapeutic or used in conjunction with the proprietary neutralizing antibodies (nAbs) STI-1499 and affinity matured STI-2020 being developed by our Company. Our ultimate goal is to be able to provide patients with solutions at each stage of the COVID-19 disease continuum and ensure all the therapeutic solutions we put forward work well together and enhance each other.”
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