Sorrento Therapeutics Inc SRNE shares spiked 158% Friday after the company disclosed that it has identified an antibody that demonstrated 100% inhibition of SARS-CoV-2 virus infection.
The Sorrento Analyst
H.C. Wainwright analyst Raghuram Selvaraju has a Buy rating on Sorrento with a $24 price target.
The Sorrento Thesis
Sorrento has rapidly assembled a constellation of strategies for combating the coronavirus, Selvaraju said in a Monday note. (See his track record here.)
The strategies include:
- STI-1499, named COVI-GUARD, which is being evaluated as a standalone antibody therapy aimed at blocking viral entry into host cells.
- COVI-SHIELD, a proprietary cocktail of therapeutic antibody, including STI-1499, focused on inhibiting viral infection of healthy host cells.
- A proprietary COVIDTRAP ACE2-Fc protein, which binds to the S1 domain of the spike protein of the SARS-CoV-2 virus, thereby blocking the virus from binding and infecting respiratory epithelial cells.
- A next-generation, gene-encoded antibody vaccine against COVID-19.
- The ACE-MAB fusion protein, which utilizes its STI-4920 antibody and Mabpharm Ltd.'s fusion protein CMAB020 to create a bispecific fusion protein with two functional arms.
- STI-6991, an I-Cell COVID-19 vaccine.
- A natural killer cell-based immunotherapy approach, named COVI-CELL, to treat critically and severely ill COVID-19 patients.
The analyst said he believes the antibody cocktail therapy would establish a high barrier to development of treatment resistance, while potentially providing protection against infection to at-risk populations, Selvaraju said.
COVI-GUARD and COVI-SHIELD are likely to be used as prophylactic agents for those returning to work and as therapeutic interventions for those recently exposed to SARS-CoV-2, the analyst said.
Each dose of this antibody cocktail therapy will provide antiviral protection for up to two months, he said.
"In the absence of a vaccine, protection using an antibody cocktail may prove to be one of very few viable options."
SRNE Price Action
At last check, Sorrento shares were trading 2.81% higher at $6.95.
Related Links:
Moderna Rallies On Positive Phase 1 Coronavirus Vaccine Data, Aims For Phase 3 Trial In July
The Week Ahead In Biotech: Aquestive Awaits FDA Decision, Earnings Flow Slows
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.