Independent Study Shows Sorrento Therapeutics's (SRNE) COVISTIX Delivers Superior Sensitivity Results in Detecting COVID-19 vs Leading Rapid Antigen Test

Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento"), a clinical and commercial stage biopharmaceutical company developing new therapies to treat cancer, pain (non-opioid treatments), autoimmune disease and COVID-19, today announced impressive results from an independent study conducted under real-world field conditions by INMEGEN (The Institute of National Genomics Medicine, Mexico).

Detailed results can be found at: https://www.medrxiv.org/content/10.1101/2021.09.10.21263410v1

“Analytical performances of the COVISTIX™ and Panbio™ antigen rapid tests for SARS-CoV-2 detection in an unselected population (all comers)”

Key highlights include:

• For the population tested with COVISTIX™ (n=783), sensitivity and specificity were 81% (CI95% 76.0-85.0) and 96.0% (CI95% 94.0-98.0), respectively. In contrast, the sensitivity of the Panbio comparator test (n=2202) was measured at 62% (CI95%: 58.0-64.0%) and specificity at 99.0% (CI95%: 0.99-1.00).

This finding is significant as higher COVISTIX sensitivity means fewer false negatives, which is essential to managing the spread of COVID virus infection and preventing the COVID disease, in particular those cases linked to highly transmissible variants of concern such as the Delta variant. Additionally, this superior sensitivity result is quite impressive in a real-world population of all-comers (vs in only symptomatic patients) utilizing an initial shallow nasal sampling protocol followed by an optional nasopharyngeal sampling, if desired.

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