U.S. Markets closed
  • S&P Futures

    3,811.50
    -9.75 (-0.26%)
     
  • Dow Futures

    30,940.00
    -59.00 (-0.19%)
     
  • Nasdaq Futures

    11,656.25
    -34.75 (-0.30%)
     
  • Russell 2000 Futures

    1,717.30
    -4.10 (-0.24%)
     
  • Crude Oil

    109.97
    +0.19 (+0.17%)
     
  • Gold

    1,821.30
    +3.80 (+0.21%)
     
  • Silver

    20.74
    +0.00 (+0.01%)
     
  • EUR/USD

    1.0459
    +0.0015 (+0.1464%)
     
  • 10-Yr Bond

    3.0930
    -0.1130 (-3.52%)
     
  • Vix

    28.16
    -0.20 (-0.71%)
     
  • GBP/USD

    1.2140
    +0.0017 (+0.1432%)
     
  • USD/JPY

    136.5640
    +0.0190 (+0.0139%)
     
  • BTC-USD

    20,070.41
    -233.83 (-1.15%)
     
  • CMC Crypto 200

    430.81
    -8.85 (-2.01%)
     
  • FTSE 100

    7,312.32
    -11.09 (-0.15%)
     
  • Nikkei 225

    26,565.57
    -239.03 (-0.89%)
     
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Sorrento Therapeutics CEO details Covishield neutralizing antibody

In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Sorrento Therapeutics Chairman and CEO Henry Ji joins Yahoo Finance Live to discuss the Covishield antibody Sorrento is developing, the timeline for getting FDA approval, cancer treatment research, and the pharmaceutical biotech sectors.

Video Transcript

[MUSIC PLAYING]

ALEXIS CHRISTOFOROUS: biopharma company Sorrento therapeutics says its COVID 19 treatment CoviShield shows significant progress in neutralizing Omicron and Omicron variants CoviShield was discovered by scientists at the Icahn School of Medicine at Mount Sinai and further developed by Sorrento.

Joining us now to discuss is Henry Ji, he is Sorrento Therapeutics chairman CEO and President. We're also joined by our health reporter, Anjalee Khemlani. Henry, good to see you again on the show. First off, just in layman's terms for us, tell us what CoviShield does, and how far away are we from it actually coming to market?

HENRY JI: Yes, thank you very much Alexis, for inviting me. And the CoviShield is a neutralizing antibody that binds to the spike protein of the virus, and that that basically blocks the virus get into the cell. And we have two different form, one is the IV injection, one is the intranasal, which requires very tiny quantity of this antibody.

For example, if you do IV injection, you need a milligram, hundreds of milligrams to grams. We only need a 5 milligrams or so, so you can imagine 100 to 100,000 fold of doses so you're using our CoviShield. Was the neutralizing antibody.

ANJALEE KHEMLANI: Henry, I wonder about looking at it from the marketing perspective. Just first of all, CoviShield. Also is a shared name with a vaccine available internationally. Do you have any plans to rebrand or rename this right now?

HENRY JI: So we actually have multiple names, a backup and names in place already for this. And our folks knows how to do marketing because my marketing chief is formally works for Pfizer, Eli Lilly. He actually been one name the [? Buggyra, ?] so we have multiple good names in places.

ANJALEE KHEMLANI: Lovely. But let's look at also, of course of what you have in terms of the timeline for this. Obviously, you mentioned that it is effective against Omicron. And we know that though Omicron is on its way down at least, for now, we are expecting that there will be other variants in the future. Can you map out a timeline of how you expect, and when you expect this to be widely available? And what you're planning to do in the event that we find new variants?

HENRY JI: Yes. So firstly, we're setting up a press release that we're going to file within a month. So we're actually so happy. We filed it yesterday in the filing, so hopefully, it gets into human proof concept in the next couple of months or so. Then we're going to be able to do very large clinical trial in the few thousand patients, try to get the UA application submitted to FDA here in the United States, and the COFEPRIS in the Mexico, and the UK as well.

And we believe that our antibody is very unique. With binds to a pocket, we believe a [INAUDIBLE] set both to the mutation of the virus. It's a very conserved regions. We believe that we'll be avoiding any future variants, and that, that the impact to a different type of neutralizing antibody.

And meanwhile, the company is working on some of the radical strategy that could be has nothing to do with the virus mutation. And we're using that as a combination with neutralizing antibody that will be able to address any type of variants coming up, and we're very close to get that in place as well, as a combination for the CoviShield.

ANJALEE KHEMLANI: Got it. What about the long haul study? I know that you're taking charge of in Brazil. What do you-- where does that stand right now and what do you hope to achieve in looking at this?

HENRY JI: Yeah, so we have a stem cell, which is mesenchymal stem cells. Right now, it's already finished a very large clinical trials in the middle of very big trials in the Brazil. And we believe that they're going to help to restore the tissue repair, and that will get over some of the lingering effect from a long COVID syndrome, such as the migraines and some of the shortness of breath. So we have our ongoing right now in Brazil.

ALEXIS CHRISTOFOROUS: And Henry, I know that aside from COVID really when the company was started, you were looking at cancer treatments. And I know today President Biden is announcing the relaunch of the Cancer Moonshot Program that was started during the Obama administration. What does that mean in particular, for your company and for the treatments that you're working on?

HENRY JI: Yeah, so we're actually having a compound called Abivertinib, which already finished a pivotal trials in the Non-small cell lung cancer, that has very good overall response, and that the overall survival. So we are going to be apply it to the FDA for pre-MDA meetings.

If they get the-- if there is consent, we may be able to either get the drug's approval after a bridging study to get the drugs approved very quickly as a tool for the non-small cell lung cancer. And the same drug that can be used for lymphomas, and a prostate cancer, and as well as some of the other cancer tumors.

ALEXIS CHRISTOFOROUS: And so, and Henry, I just wanted to get your thoughts on what's happening not just with your company stock, but sort of with the sector right now. Because we saw a rough start to the year for a lot of the small and mid-cap biopharma companies, Sorrento therapeutics included.

I was taking a look at the SPDR S&P Biotech ETF, and you see him by that chart there. It's trading near a 52 week low at the moment. What is Wall Street missing perhaps with the sector, but more specifically with your company? Are they maybe concerned that Sorrento is more of a pure COVID play? And do you need to start changing that messaging?

HENRY JI: Not really. We always messaging as a cancer, as well as non-opiod pain management. Our company actually progressively move into a much mature stage. We have the phase III with the cancer drugs in place. And we have non-opiate pain management, which is a big emphasis by the Biden administration. For non-opiate pain management, we have that phase III already done with the data, amazing data we released it.

So we're going to do a request for breakthrough status from the FDA and submit the NDA to the FDA. We believe we're going to be a much mature now. And if you look at the merger acquisition activity in the space, this year it's very light. However, the big pharma has a lot of cash on hand.

They need a mature compound, which company like us gets to a mature stage. They're going to get a lot of interest from the big pharma. Either do a license agreement or you do some of the asset acquisition, which we believe Sorrento has plenty of the assets in place.

ALEXIS CHRISTOFOROUS: All right, Henry Ji, Sorrento Therapeutics chairman CEO and President, thanks so much for being with us today.