Scilex Holding Company, a Sorrento Company (NASDAQ:SRNE) announced dosing of the first patient in a Phase 2 study of its drug candidate in patients with SP-103 in subjects with acute low back pain (LBP).
The Phase 2, multi center study evaluates the safety and efficacy of SP-103 in patients suffering from acute LBP, with a goal to enrol 80 patients.
Following favorable data from the pharmacokinetics study, the company is advancing this program into Phase 2 with initiation of the study in LBP patients.
Jaisim Shah, Chief Executive Officer, said, “SP-103 has the potential to meet our core goal of developing best-in-class pain management therapies to significantly improve the lives of patients with LBP who are seeking new effective treatments. Scilex is excited about this potentially safe and effective treatment without the limitations of currently used off-label therapies, including opioids with risks of abuse and addiction”.
The acute low back pain can range in intensity from a dull, constant ache to a sudden, sharp sensation that leaves the person incapacitated.
Sorrento is trading high 2 percent at $1.60 in the regular market session.
