Sorrento Therapeutics (NASDAQ: SRNE) shares are trading higher after the company received FDA clearance to proceed with its Phase 2 study for Sti-3031 in advanced urothelial carcinoma.
“These are very exciting times for Sorrento,” said Dr. Henry Ji, Chairman and CEO of Sorrento. “These therapeutic antibody examples demonstrate that we are leveraging the G-MAB library to bring product candidates rapidly from preclinical development through the IND process and into clinic trials.”
Sorrento is a clinical stage, antibody-centric, biopharmaceutical company developing new therapies to treat cancers and COVID-19.
The stock was trading 5.46% higher at $8.86 per share at the time of writing. The stock has a 52-week high of $19.39 and a 52-week low of $2.18.
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