Sorrento Therapeutics Inc (NASDAQ: SRNE) announced Wednesday that the Phase 1b study of its drug resinferatoxin is in progress and has generated positive data.
The RTX drug has the potential to be on the market by 2022, the company said.
RTX can potentially help patients with terminal cancer pain after a single epidural injection by permanently blocking the pain signal transmission from the tumor tissue to the dorsal root ganglion in the spinal cord, the company said.
“This is a very ambitious goal that I personally believe is achievable given the quality of the team leading the effort and the performance of the drug so far,” Sorrento CEO Dr. Henry Ji said in a statement.
“Our teams have done an amazing job taking this drug from preclinical IND enabling to pivotal registration trials in less than two years. Because of the investigators’ enthusiasm we have experienced for this groundbreaking non-opioid pain therapy in our initial trial, we expect the Phase 3 studies to move very quickly."
Sorrento Therapeutics shares were down 2.3% at $3.62 at the time of publication Wednesday.
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