Sorrento Therapeutics Plans to Cut Development of Its Coronavirus Vaccine if the Leaders’ Vaccines Work
Sorrento Therapeutics (NASDAQ: SRNE) is considerably behind Pfizer (NYSE: PFE), BioNTech (NASDAQ: BNTX), Moderna (NASDAQ: MRNA), and the rest of the leaders in the race to develop a coronavirus vaccine. While multiple vaccines have completed phase 3 clinical trials or will in the coming months, Sorrento’s lead vaccine, T-VIVA-19, hasn’t even entered clinical trials yet.
In this video from Motley Fool Live recorded on Nov. 12, Henry Ji, chairman, president, and CEO of Sorrento, talks about the potential advantages of the biotech’s vaccine. But given how far behind Sorrento is, he admits the company is watching the leaders and might stop development if it’s clear there won’t be room for latecomers.