Research Desk Line-up: Reata Pharma Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Sorrento Therapeutics, Inc. (NASDAQ: SRNE), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SRNE. The Company announced on August 29, 2017, that its majority-owned subsidiary, SCILEX Pharmaceuticals, Inc., resubmitted the New Drug Application (NDA) and responded to all of US Food and Drug Administration (FDA) comments related to the initial NDA submission for its lead product candidate, ZTlido. ZTlido is a next-gen, non-opioid, lidocaine patch currently in development for the relief of pain associated with post-herpetic neuralgia (PHN), a severe neuropathic pain condition. For immediate access to our complimentary reports, including today's coverage, register for free now at:
Discover more of our free reports coverage from other companies within the Biotechnology industry. Pro-TD has currently selected Reata Pharmaceuticals, Inc. (NASDAQ: RETA) for due-diligence and potential coverage as the Company announced on August 14, 2017, its financial results for Q2 2017 which ended on June 30, 2017 and also provided an update on its business and product development programs. Tune in to our site to register for a free membership, and be among the early birds that get our report on Reata Pharma when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SRNE; also brushing on RETA. Go directly to your stock of interest and access today's free coverage at:
According to the Company, ZTlido was specifically designed to have superior adhesion as compared to the US and EU reference products Lidoderm/Versatis in recognition that adhesion is critical to the safety, efficacy, and quality of a patch or medicated plaster pharmaceutical product. This case is especially crucial here for a patch or medicated plaster systems such as ZTlido and Lidoderm/Versatis where the drug is contained in the adhesive and must be in contact with the skin to deliver the drug.
The novel Technology, ZTlido, allows the ability to deliver a bioequivalent therapeutic dose of lidocaine for the treatment of PHN pain. However, it does so through a drug load of 36 mg/patch, against 700 mg/patch for Lidoderm and Versatis. This biopharmaceutic efficiency leads to an approximately 30-fold reduction in residual drug in ZTlido after use when compared to Lidoderm and Versatis, and can significantly reduce safety risk to children and pets, and present less drug waste when discarded after use.
The Adhesion Study
On June 14, 2017, SCILEX, a Sorrento-subsidiary, announced that its lead investigational product, ZTlido demonstrated superior adhesion versus the EU reference product, Versatis, during a recently executed comparative adhesion performance study. The data presented complemented a previous clinical adhesion study performed to support the NDA submission for ZTlido in the US, where greater than 90% of the subjects demonstrated greater than 90% adhesion over the administration period of 12 hours, using the FDA recommended 5-point scale.
The adhesion study was designed and carried out as an open label, three-period, single-patch application, adhesion performance study of ZTlido versus Versatis. The study was completed in 44 healthy volunteers, where they were assessed for adhesion at 0, 3, 6, 9, and 12 hours respectively. Adhesion was scored using The European Medicines Agency (EMA) scale ranging from a score of 6 being greater than 95% adhesion and a score of 0, where greater than 70% adhesion represented significant adhesion failure. ZTlido demonstrated superior adhesion as compared to Versatis with a mean adhesion score of 5.35 versus 3.59 for Versatis (p<0.001). After the 12-hour dosage period, ZTlido had a mean adhesion score of 5.006 while Versatis had a mean adhesion of 2.268.
Sorrento announced that the state-of-the-art manufacturing technology used for ZTlido production enabled high drug delivery efficiency with strong adhesive properties. The NDA, subject to being accepted by the FDA, will go through a review process which could be 6 months. If approved, ZTlido could be ready for commercial launch in the US in 2018. The Company also plans to submit a marketing authorization application (MAA) for ZTlido in Europe in Q4 2016. According to the Company, the total full-year 2016 sales of currently approved prescription lidocaine patches in the US and Europe were about $750 million, where it expects ZTlido to be a significant player in the market.
Last Close Stock Review
At the closing bell, on Wednesday, August 30, 2017, Sorrento Therapeutics' stock surged 10.77%, ending the trading session at $1.80. A total volume of 1.11 million shares have exchanged hands, which was higher than the 3-month average volume of 902.83 thousand shares. The Company's stock price rallied 16.13% in the last three months. The stock currently has a market cap of $133.72 million.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily