Sorrento (SRNE) Up on Positive Result From Lung Cancer Study

 Sorrento Therapeutics SRNE moved up 6.21% in August, during market hours, after the drugmaker announced positive results from its drug candidate, Abivertinib. The drug is being evaluated for treating advanced non-small cell lung cancer (NSCLC) patients resistant to first-line EGFR kinase inhibitor therapies.

Abivertinib is a novel third-generation epidermal growth factor receptor (EGFR) inhibitor being evaluated by Sorrento in a pivotal late-stage study in China.

The company reported an overall response rate (ORR) of 56.5% (118/209) in 209 evaluable NSCLC patients being treated with abivertinib. The candidate also exhibited a complete response rate (CRR) of 5.3% (11/209) and median overall survival (OS) of 28.2 months in the aforementioned patient population.

Sorrento is ending the study of abivertinib, and based on this data, it will be preparing to apply for a pre-new drug application (NDA) meeting with the FDA. The company also intends to submit documentation for the approval of abivertinib as a treatment for NSCLC to regulatory agencies of other countries as well.

Sorrento shares have declined 57% in the year-to-date period compared with the industry’s decline of 21.6%.

The targeted market represents a significant market opportunity.

Sorrento is a clinical and commercial stage biopharma company focused on developing next generation treatments for infectious diseases, pain and cancer. The company added abivertinib to its portfolio, as a part of its ACEA Therapeutics acquisition, completed in June 2021. The acquisition significantly strengthened Sorrento’s oncology franchise.

Sorrentto also received an investigational new drug (“IND”) application clearance from the FDA, in May 2022, for evaluating abivertinib in patients with metastatic castrate-resistant prostate cancer (mCRPC) in the United States in a phase II MAVERICK study.

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