Sorrento Therapeutics Files IND for Coronavirus Treatment

Sorrento Therapeutics (NASDAQ: SRNE) isn't letting Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) grab all the headlines about the healthcare industry's battle against the coronavirus. On Monday, Sorrento announced it has submitted an Investigational New Drug (IND) application for its STI-2020, an antibody therapy that treats COVID-19.

An IND application is essentially a collection of data that is submitted to the Food and Drug Administration (FDA) to win approval for a human clinical trial. Sorrento aims to put STI-2020, an intravenous therapy, through its paces on both COVID-19 patients with mild symptoms and -- in a separate trial -- on healthy participants to conduct a safety and pharmacokinetic study.

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Source Fool.com