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Sorrento Therapeutics, Inc. (SRNE)

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Shares of Sorrento Therapeutics Inc. SRNE, +157.25% blasted 153% higher on very heavy volume in afternoon trading Friday,
putting it on track to close at a near 2-year high, after the biopharmaceutical company provided
an upbeat assessment of the results of a preclinical experiment of its COVID-19 virus antibody.
Trading volume exploded to 364.8 million shares, enough to make the stock the most actively
traded on major U.S. exchanges, and well above the full-day average of about 6.6 million shares.
After four days of incubation, Sorrento said it STI-1499 antibody demonstrated 100% inhibition of the COVID-19 virus infection of healthy cells.
The company said full results of the experiment will be soon submitted to a "peer-reviewed publication
" The company said last week that it 
planned to develop an antibody cocktail treatment for patients at risk
or with new infections of COVID-19, in partnership with Mount Sinai Health System.
"Sorrento has determined STI-1499 will likely be the first antibody in the
antibody cocktail (COVI-SHIELD™) it is developing, as recently announced," the company stated.
"STI-1499 is also expected to be developed as a stand-alone therapy, (COVI-GUARD™)
because of the high potency it has exhibited in experiments to date."
The stock has now nearly doubled (up 96%) year to date, while the S&P 500 
SPX, 0.16% has lost 12%.
Target $24.00; H.C. Wainwright Sticks to Their Buy Rating for Sorrento Therapeutics
May 11, 2020 10:56AM ET

TARGET $24.00
https://www.investing.com/news/hc-wainwright-sticks-to-their-buy-rating-for-sorrento-therapeutics-2168120

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Sorrento Therapeutics (NASDAQ:SRNE) on Monday, setting a price target of $24,
which is approximately 823.08% above the present share price of $2.6.

Selvaraju expects Sorrento Therapeutics to post earnings per share (EPS) of -$0.37 for the second quarter of 2020.

The current consensus among 1 TipRanks analysts is for a Moderate Buy rating of shares in Sorrento Therapeutics, with an average price target of $24.
The analysts price targets range from a high of $24 to a low of $24.

In its latest earnings report, released on 12/31/2019, the company reported a quarterly revenue of $13.03 million and a net profit of -$43.77 million.
The company's market cap is $545.2 million.

According to TipRanks.com, H.C. Wainwright analyst Ram Selvaraju is a 5-star analyst with an average return of 22.1% and a 55.8% success rate.

Sorrento Therapeutics, Inc. engages in the research, development and manufacture of biopharmaceutical products.
It focuses on therapies to treat specific stages in the evolution of cancer, from elimination, to equilibrium and escape which include biosimilars,
immuno-oncology antibodies, cellular therapy, cell internalizing antibodies, and antibody drug conjugates.
The company was founded by Henry H. Ji in 2006 and is headquartered in San Diego, CA.
 
 

SORRENTO THERAPEUTICS, INC.

4955 Directors Place

San Diego, CA 92121

 
 
 
Sorrento Therapeutics, Inc. (STI) provides access to its novel and proprietary technology platform for the construction of fully human antibody libraries,
the STI Technology. The STI Technology applies RNA transcription for the amplification of human immunoglobin variable domain sequences.
 
Sorrento Therapeutics, Inc., a clinical stage biopharma company, engages in the development of therapies for the treatment of cancer, autoimmune,
inflammatory, and neurodegenerative diseases. It operates through two segments, Sorrento Therapeutics and Scilex.
The company provides cancer therapeutics by leveraging its proprietary G-MAB antibody library and targeted delivery modalities,
which include chimeric antigen receptor T-cell therapy (CAR-T), dimeric antigen receptor T-cell therapy, and antibody drug conjugates,
as well as bispecific antibody approaches. It also offers Sofusa, a drug delivery technology that delivers biologics directly into the lymphatic system.

In addition, the company's clinical programs in development include anti-CD38 CAR-T therapy for the treatment of multiple myeloma,
as well as for amyloidosis and graft-versus-host diseases.

Further, it develops resiniferatoxin, a non-opioid-based TRPV1 agonist neurotoxin for late stage cancer and
osteoarthritis knee pain treatment; and ZTlido, a lidocaine delivery system for the treatment of postherpetic neuralgia.
Additionally, the company engages in the development of SEMDEXA, an injectable viscous gel formulation, which is Phase III trial for the treatment of sciatica,
a pathology of low back pain; and SP-103, an investigational non-aqueous lidocaine topical system undergoing clinical development in chronic low back pain conditions.

Sorrento Therapeutics, Inc. has a collaboration with SmartPharm Therapeutics Inc. to develop gene-encoded antibody vaccine to protect against COVID-19;
and research testing agreement with The University of Texas Medical Branch at Galveston for the preclinical testing of Sorrento's COVID-19 therapeutic product candidates.
The company also has a collaboration with Celularity, Inc. for initiating Phase I/II clinical study, including up to 86 patients with COVID-19.
The company was founded in 2006 and is based in San Diego, California.
 
SRNE SECURITY DETAILS

Share Structure

Market Cap Market Cap
475,111,701  05/14/2020
 
Authorized Shares Not Available
 
Outstanding Shares
181,340,344  02/14/2020
 
Restricted  Not Available
 
Unrestricted  Not Available
 
Held at DTC  Not Available
 
Float  Not Available
 
Par Value  No Par Value



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SRNE News: Current Report Filing (8-k) 09/17/2020 06:04:36 AM
SRNE News: Sorrento Receives US FDA Clearance to Proceed With Phase 1 Clinical Trial of STI-1499 (COVI-GUARD) Neutralizing Antibody in C... 09/16/2020 09:30:10 PM
SRNE News: Current Report Filing (8-k) 09/14/2020 06:04:19 AM
SRNE News: Sorrento Secures Exclusive License From Mayo Clinic for Antibody-Drug-Nanoparticle Albumin-Bound Immune Complex (ADNIC) Platf... 09/14/2020 06:00:10 AM
SRNE News: Current Report Filing (8-k) 09/02/2020 09:10:45 AM
PostSubject
#6047  Sticky Note Sorrento Receives US FDA Clearance to Proceed With John-Knee 09/16/20 09:37:26 PM
#5453  Sticky Note 30 Reasons why my price target is $100+ dia76ca 08/21/20 06:20:41 PM
#5259  Sticky Note Many of these events will occur in the dia76ca 08/14/20 05:28:12 PM
#6206   voided intentionally HeadsIwin 09/22/20 05:34:49 AM
#6205   It is not how fast you get to HeadsIwin 09/22/20 05:24:29 AM
#6204   Accuracy of 50% ? It is good for Digra Ive 09/22/20 02:13:43 AM
#6203   Load up. Its coming baby. Its coming. Load Stockman1010101 09/21/20 10:55:20 PM
#6202   I believe the FDA increased the accuracy requirements vinovista 09/21/20 09:37:10 PM
#6201   Appreciate your time. Have a good trading Digra Ive 09/21/20 08:54:33 PM
#6200   Agree. Thanks for confirming. country boy3 09/21/20 07:16:30 PM
#6199   Yes, they currently have an open position for qsachse 09/21/20 07:15:30 PM
#6198   Thought the changes to the FDA were suggestions 1776club 09/21/20 07:09:07 PM
#6197   Honestly I think the best thing Ji could country boy3 09/21/20 07:05:43 PM
#6196   $SRNE still holding all my shares from two BoilerRoom 09/21/20 07:02:09 PM
#6195   As I stated before the FDA has moved vinovista 09/21/20 06:38:31 PM
#6194   Digra Ive 09/21/20 06:06:51 PM
#6193   Hi Dia76. Digra Ive 09/21/20 06:06:24 PM
#6192   Hi Vino. Digra Ive 09/21/20 05:26:38 PM
#6191   * * $SRNE Video Chart 09-21-2020 * * ClayTrader 09/21/20 04:00:05 PM
#6190   James, you could be correct. Dr.Ji seems 1776club 09/21/20 02:42:57 PM
#6189   wishful thinking maybe next week? Scotttrader80 09/21/20 02:40:33 PM
#6188   Thing is we have no idea that they James salmon 09/21/20 12:42:00 PM
#6187   This could be huge for Sorrento (2nd or dominate 09/21/20 12:24:52 PM
#6186   YAWWWWWWWnnnnn....zzzzzzz Damn good thing there isn't an "E"mergency Use 1776club 09/21/20 11:30:40 AM
#6185   What if Covi-Guard(1499) is not only the BEST dia76ca 09/21/20 11:18:41 AM
#6184   https://www.google.com/amp/s/www.forbes.com/sites/greatspeculations/2020/09/21/s Powe 09/21/20 09:42:51 AM
#6183   Study of the Safety and Efficacy of STI-5656 cheynew 09/21/20 07:43:35 AM
#6182   it will open $11 tomorrow. GLTA Stockman1010101 09/20/20 10:58:45 PM
#6181   That is true in all things. Lest 1776club 09/20/20 05:56:12 PM
#6180   Its big pharma companies trying to control the Stockman1010101 09/20/20 05:07:17 PM
#6179   To your right you will see an ask 1776club 09/20/20 02:00:51 PM
#6178   Bill Gates just said it is OUTREGEOUS that 1776club 09/20/20 01:30:26 PM
#6177   31 Reasons my price target is $100+.Many can dia76ca 09/20/20 12:39:58 PM
#6176   $20???? Good grief I am looking for $175 1776club 09/20/20 01:24:32 AM
#6175   Really so you ever seen it go over ezyE 09/19/20 10:49:40 PM
#6174   Nothing is going to happen until Sorrento has 1776club 09/19/20 10:34:04 PM
#6173   Noooice chart this bout to xplode starkd748 09/19/20 09:27:50 PM
#6172   From that Sept. 18 article: "We decided to dia76ca 09/19/20 12:41:57 PM
#6171   I had that book.. lol vegasandre 09/19/20 10:56:16 AM
#6170   SRNE + Cellularity cheynew 09/19/20 09:36:46 AM
#6169   Very understandable, as TA is not 100% guaranteed John-Knee 09/19/20 07:35:05 AM
#6168   It may have happened once perhaps using your Jesspro 09/19/20 06:23:36 AM
#6167   $SRNE 9.54 up 0.06 (0.63%) Big volume 35,174,990 Tamtam 09/19/20 06:22:24 AM
#6166   It's from my 1988 booklet Chartmaster 09/19/20 02:14:00 AM
#6165   Yes, it's actually basic TA, it's a measuring Chartmaster 09/19/20 01:57:20 AM
#6164   Are you using Elliot Wave theory / Fibonacci numbers? XWAVXALMIMAN 09/19/20 01:19:59 AM
#6163   Interesting! Is that a proven theory? country boy3 09/19/20 12:49:49 AM
#6162   Chart shows $19.39 was the high, minus the Chartmaster 09/19/20 12:19:20 AM
#6160   Let’s hope. Company has huge potential. The pipeline country boy3 09/18/20 11:50:08 PM
#6158   No. country boy3 09/18/20 11:31:38 PM
#6156   Thank you. Someone with a brain here!! We RobotMaster 09/18/20 10:59:14 PM
#6153   I totally agree with you but how did country boy3 09/18/20 08:22:27 PM
#6152   Disagree, Chart tells the story, the weekly stochastics Chartmaster 09/18/20 06:23:39 PM
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