Shares in Sorrento rose 2.7% in Monday’s extended market session after the company entered into an exclusive license agreement with Personalized Stem Cells (PSC) to buy the global rights to its adipose derived mesenchymal stem cells (MSCs) to treat patients suffering from COVID-19 acute respiratory distress syndrome (ARDS).Sorrento (SRNE) said that the MSC program has been cleared for a Phase 1 clinical trial by the US Food and Drug Administration to the pipeline of COVID-19 focused rescue therapies. As part of the agreement, the company will conduct the Phase 1 trial, which is targeted to enroll about 20 hospitalized COVID-19 …read more
Source:: Yahoo Finance
