Thinking about buying Aytu Bioscience (AYTU) or Sorrento Therapeutics (SRNE)? Read this first!
Sorrento Therapeutics (SRNE)
Sorrento Therapeutics skyrocketed as much as 244% on Friday after the company said an antibody it was developing showed “100% inhibition” of the COVID-19 virus in preclinical studies.
The small biotechnology company said it planned to “generate an antibody cocktail product that would act as a ‘protective shield’ against SARS-CoV-2,” the official name of the novel coronavirus.
Sorrento said it would ask regulators for “priority evaluation and accelerated review” of its antibody candidate. The company added that it hoped to receive government support and partner with a pharmaceutical company to scale up manufacturing of its candidate if clinical studies find it to be successful.
Sorrento said the full results from its preclinical experiments would be “submitted to a peer-reviewed publication shortly.”
Sorrento’s market value surged from $549 million at Thursday’s close to roughly $1.9 billion at Friday’s intraday highs.
Aytu Bioscience (AYTU)
COVID-19 Update
- The Company secured an exclusive U.S. distribution agreement for a COVID-19 IgG/IgM rapid test from Hong Kong-based L.B. Resources.
- The Company announced a second distribution agreement for a COVID-19 IgG/IgM rapid test with Singapore-based Biolidics Limited.
- The Company received an initial shipment of 100,000 COVID-19 IgG/IgM rapid tests and began shipping to U.S. customers.
- The Company announced positive results from an independently conducted clinical study of the Zhejiang Orient Gene Biotech COVID-19 IgG/IgM rapid test demonstrating test accuracy of 98.0% and 94.1% for IgG and IgM, respectively, when using PCR-positive cases as true positives.
- The Company signed an exclusive worldwide license from Cedars-Sinai to develop and commercialize the Healight Platform Technology (“Healight”). This ultraviolet light-based medical device technology platform, developed by scientists at Cedars-Sinai, is being studied as a potential treatment for coronavirus and other severe respiratory infections.
- The Company signed an agreement with Sterling Medical Devices to finalize the development of Healight.
Rx Business Update
The Company announced the acceptance and publication of the Natesto® Spermatogenesis Study results in the Journal of Urology. The study concluded that Natesto was effective in returning hypogonadal men to back to normal testosterone levels, significantly improve erectile function and quality of life, preserve gonadotropin hormones, and most importantly preserve semen parameters through 6 months of treatment.
Consumer Health Business Update
The Company completed the acquisition of Innovus Pharmaceuticals to expand the Company’s portfolio to include an approximately $25 million annual consumer health portfolio.
Company’s newly acquired Innovus consumer health subsidiary launched its first post-acquisition product Regoxidine®, an over-the-counter foam formulation of minoxidil for hair regrowth available for use by both men and women, targeting over 11 Million U.S. consumers who purchased hair regrowth products in 2019.
Should you buy Aytu Bioscience (AYTU) or Sorrento Therapeutics (SRNE)?
The shares of these two companies overall appear to be a very good investment option, with Wall Street analysts expecting their price to rise considerably in the next several years. The majority of the metrics point to these investment being highly attractive.
