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Biopharma Study Shows Safety of Stem Cell Therapy in Severe COVID-19 Patients

April 29, 2021 (Investorideas.com Newswire) The clinical trial, in which Sorrento Therapeutics established safety, and the company’s next steps for this potential treatment are summarized in a Dawson James Securities report.

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In an April 21 research note, Dawson James Securities analyst Jason Kolbert reported that Sorrento Therapeutics Inc. (SRNE:NASDAQ) completed its Phase 1b MSC-COV-101 trial of COVI-MSC, allogeneic adipose-derived mesenchymal stem cells, as a treatment for COVID-19-induced acute respiratory failure (ARD) and acute respiratory distress syndrome (ARDS).

Kolbert highlighted that the study was successful in that it showed the safety of intravenous infusion of COVI-MSCs in patients with ARD or ARDS resulting from COVID-19.

The analyst explained that the trial comprised 10 inpatients, 8 men and 2 women. Before treatment, all had obesity and other comorbidities and needed supplemental oxygen. Also, they all had an abnormal ratio of arterial oxygen partial pressure to fractional inspired oxygen, ranging from 135 to 256, where normal is above 400.

All of the study participants were administered COVI-MSCs in up to three infusions on an every-other-day schedule. The 10 patients were discharged from the hospital within 3 days of their last infusion and were subsequently followed for 28 days.

As an example of preliminary efficacy, Kolbert relayed that the final patient to be enrolled had been treated unsuccessfully for nearly two weeks prior to receiving COVI-MSCs. The patient was discharged after a second infusion, with room-air oxygen-saturation levels in the high 90s. In follow-up days later, the patient was still doing well.

The next step for Sorrento and its COVI-MSCs, Kolbert noted, is a pivotal, multisite (in the U.S. and Brazil), placebo-controlled study to be done in support of the company’s emergency use authorization application. Once all Phase 1b data are available, the biopharma, with guidance from the U.S. Food and Drug Administration, will plan the subsequent trial.

Dawson James has a Buy rating and a $19 per share price target on Sorrento Therapeutics, the current share price of which is about $8.63.

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Disclosures for Dawson James Securities, Sorrento Therapeutics, April 21, 2021

The Firm does not make a market in the securities of the subject company(s). The Firm has NOT engaged in investment banking relationships with SRNE in the prior twelve months, as a manager or co-manager of a public offering and has NOT received compensation resulting from those relationships. The Firm may seek compensation for investment banking services in the future from the subject company(s). The Firm has NOT received any other compensation from the subject company(s) in the last 12 months for services unrelated to managing or co-managing of a public offering.

Neither the research analyst(s) whose name appears on this report nor any member of his (their) household is an officer, director or advisory board member of these companies. The Firm and/or its directors and employees may own securities of the company(s) in this report and may increase or decrease holdings in the future. As of March 31, 2021, the Firm as a whole did not beneficially own 1% or more of any class of common equity securities of the subject company(s) of this report. The Firm, its officers, directors, analysts or employees may affect transactions in and have long or short positions in the securities (or options or warrants related to those securities) of the company(s) subject to this report. The Firm may affect transactions as principal or agent in those securities.

Analysts receive no direct compensation in connection with the Firm’s investment banking business. All Firm employees, including the analyst(s) responsible for preparing this report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of the Firm and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.

Analyst Certification: The analyst(s) whose name appears on this research report certifies that 1) all of the views expressed in this report accurately reflect his (their) personal views about any and all of the subject securities or issuers discussed; and 2) no part of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed by the research analyst in this research report; and 3) all Dawson James employees, including the analyst(s) responsible for preparing this research report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of Dawson James and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.

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