Sorrento Therapeutics Cleared to Start Trial for Its Next-Generation Coronavirus Antibody Treatment

Sorrento Therapeutics (NASDAQ:SRNE) hasn't released data from a phase 1 clinical trial testing STI-1499, which also goes by COVI-GUARD, its first-generation antibody treatment targeting the coronavirus that causes COVID-19.

But the biotech is already moving on to its next-generation version of the drug. Today, the company announced that the Food and Drug Administration cleared it to run a phase 1 clinical trial for STI-2020, which also goes by COVI-AMG.