Sorrento Therapeutics Inc (SRNE)

[midas716]

That's assuming the offering is at 2.60.

If it was going to crash based on that it would have already. My guess is they don't start selling until the SP is much higher and after the audited 10Q comes out on the 13th. If the audited is anything like the unaudited released today the SP should rise dramatically.

I believe they are raising this capital in anticipation of the Lidocaine Patch FDA approval in February of 2018. They will need to pay for manufacturing and sales channels. If that Lidocaine patch is approved we're talking at least 8.00 to 10.00 per share easy.

Decent volume today and no sell off on the S-3. It's the reason they released the unaudited 10Q before the S-3. So people could digest what looks like a solid 10Q before the S-3.

I could be wrong but just watching L2 looks like people are loading at 2.55.