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Sorrento Therapeutics, Inc. (SRNE)

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Sorrento Stock Has Multiple Catalysts in Play; Analyst Says ‘Buy’

Some companies favor a "do one job and do it well" approach. However, that is not the Sorrento Therapeutics (SRNE) way.

While being laser-focused on just one objective can have its advantages, having a wider-based remit can be just as effective, if done well.

That is certainly the opinion of Alliance Global analyst James Molloy when evaluating Sorrento’s prospects.

“SRNE combines one of the most active and promising pipelines in the COVID space with a potentially transformative non-opioid pain pipeline, and adds in a deep oncology pipeline,” the analyst said. “Most of SRNE's pipeline has significant catalysts over the next 1-4 quarters, with multiple late-stage clinical data read-outs and multiple potential Emergency Use Authorization (EUA) launches as well.”

So, what’s on offer from the Sorrento menu in the near-term?

The company has already filed an EUA for COVI-STIX, a 15-minute nasal swab antigen test for SARS-CoV-2, in the US and Mexico, and the test could be launched as early as 1H21.

Accurate COVID tests are still needed in the US and around the globe, and Molloy expects the assay to gain EUA approval and could “rapidly approach $500M in sales as soon as 2022.“

SRNE's 8-minute SARS-CoV-2 antibody test COVID-TRACK could swiftly follow in its footsteps with an EUA anticipated to be filed in the year’s first half, too. “This could easily be another $500million+ near term opportunity,” Molloy said.

Furthermore, the company’s two neutralizing antibody treatments, COVI-DROPS and COVI-AMG, against SARS-CoV-2, could be launched in 2022. Each of these, as well, have the potential to bring in more than $500 million in sales, according to the analyst

The company’s non-opioid pain pipeline also has several late-stage catalysts.

Fast tracked by the FDA, Phase 3 data for sciatica pain candidate SP-102 should be available this year, while RTX for OsteoArthritis (OA) knee pain and intractable cancer pain will kick-off Phase 2 and Phase 3 studies, respectively, in 2021. Both target “substantial market opportunities.”

Last but not least is Abivertinib, the company's oncology lead candidate, indicated for non-small-cell lung cancer (NSCLC) and B-cell lymphomas, and currently in Phase 3 trials in China with top line data anticipated in 1H21.

To this end, based on the progress of the company's pipeline, Molloy sees significant gains in SRNE's future. The analyst rates the stock a Buy and his $35 price target implies a hefty 277% upside. (To watch Molloy’s track record, click here)

Overall, Sorrento currently has few, yet very positive analysts tracking its progress. With Buy ratings only – 3, in total - the stock has a Strong Buy consensus rating. There’s plenty of upside projected, too; At $28.67, the average price target suggests gains of ~209% over the next 12 months. (See SRNE stock analysis on TipRanks)

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Originally published January 25,2021

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 is a clinical stage, antibody-centric, biopharmaceutical company developing new therapies to treat cancers and COVID-19. Sorrento’s multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies (“G-MAB™ library”), clinical stage immuno-cellular therapies (“CAR-T”, “DAR-T™”), antibody-drug conjugates (“ADCs”), and clinical stage oncolytic virus (“Seprehvir™”). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including COVI-GUARD™, COVI-AMG™, COVI-SHIELD™, Gene-MAb™, COVI-MSC™ and COVI-DROPS™; and diagnostic test solutions, including COVI-TRACK™, COVI-STIX™ and COVI-TRACE™. 

Sorrento's commitment to life-enhancing therapies for patients is also demonstrated by our effort to advance a first-in-class (TRPV1 agonist) non-opioid pain management small molecule, resiniferatoxin (“RTX”), and SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (SEMDEXA™), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, and to commercialize ZTlido® (lidocaine topical system) 1.8% for the treatment of post-herpetic neuralgia. RTX has completed a phase IB trial for intractable pain associated with cancer and a phase 1B trial in osteoarthritis patients. SEMDEXA is in a pivotal Phase 3 trial for the treatment of lumbosacral radicular pain, or sciatica. ZTlido® was approved by the FDA on February 28, 2018. 

For more information visit?www.sorrentotherapeutics.com

 
  

 
SRNE SECURITY DETAILS

Share Structure

Market Cap Market Cap
$4 billion 02/01/2021
 
Authorized Shares Not Available
 
Outstanding Shares
273 million  02/01/2021
 
16% insiders  02/01/2021
28% institutions  02/01/2021
 
Held at DTC  Not Available
 
Float  Not Available
 
Par Value  No Par Value



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SRNE News: Dr. Henry Ji to Participate in the H.C. Wainwright Virtual GLOBAL LIFE SCIENCES CONFERENCE 2021 Investor Conference 01:06 AM
SRNE News: Protected: Sorrento Stock Is a Buy Because of Its Strong Drug Pipeline, Says Analyst 03/04/2021 12:15:44 PM
SRNE News: Sorrento wins FDA go-ahead for early-stage STI-2099 COVID-19 trial 03/02/2021 04:09:03 PM
SRNE News: Sorrento Receives US FDA Clearance to Proceed With Phase 1 Study for STI-2099 (Intranasal COVIDROPS) in Healthy Volunteers an... 03/02/2021 04:02:07 PM
SRNE News: Sorrento gets FDA go ahead for STI-6643 trial in solid tumor 03/02/2021 09:10:45 AM
News News Alert: Dr. Henry Ji to Participate in the H.C. Wainwright Virtual GLOBAL LIFE SCIENCES CONFERENCE 2021 Investor Conference 03/05/2021 01:06:41 AM
PostSubject
#8383  Sticky Note Newbies will be interested in the ADNAB technology dia76ca 02/08/21 04:36:27 PM
#8200  Sticky Note This is worth thinking about! dia76ca 01/31/21 01:27:56 PM
#8093  Sticky Note This news about the first 4 ARDS patients dia76ca 01/26/21 08:53:11 PM
#5453  Sticky Note 30 Reasons why my price target is $100+ dia76ca 08/21/20 06:20:41 PM
#8895   US population 330 million. World population 7.7 billion. dia76ca 03/05/21 06:46:17 PM
#8894   I don't know, my socialists friends tell me 1776club 03/05/21 05:32:19 PM
#8893   Mine expectations are further out now...BUT I'M GOING 1776club 03/05/21 03:51:34 PM
#8892   Not in the good al' USA. vinovista 03/05/21 03:38:44 PM
#8891   Ohh sorry. Then $SRNE really need to get StocktraderDK 03/05/21 03:15:30 PM
#8890   almost green go $SRNE StocktraderDK 03/05/21 03:05:20 PM
#8889   There are over 300 EUA or approvals. 1776club 03/05/21 03:04:29 PM
#8888   Shorting is like milking a cow...you can pull 1776club 03/05/21 03:00:54 PM
#8887   The entire biotech sector has been pounded. What dia76ca 03/05/21 02:46:53 PM
#8886   Tuesday next week... I have a feeling StocktraderDK 03/05/21 02:38:05 PM
#8885   Why does SRNE need FDA approval when others StocktraderDK 03/05/21 02:34:44 PM
#8884   Is this from the CEO about the home I-Glow 03/05/21 02:15:58 PM
#8883   Over covid but short of breath, days of 1776club 03/05/21 02:09:51 PM
#8882   British Airways Rapid Test PHAN 03/05/21 02:03:51 PM
#8881   No need for Sorrento COVID offerings anymore! 1776club 03/05/21 01:46:36 PM
#8880   $1.15 Bil just approved for Long Term COVID. PHAN 03/05/21 01:33:03 PM
#8879   With $1.15 billion just approved for Long COVID PHAN 03/05/21 01:29:45 PM
#8878   Could be... I hope so.. StocktraderDK 03/05/21 09:52:12 AM
#8877   Interesting that in the FDA Establishment Registration & 1776club 03/05/21 09:29:51 AM
#8876   Yes if any here have time to attend StocktraderDK 03/05/21 09:29:37 AM
#8875   Well one question that most probably will not 1776club 03/05/21 09:12:50 AM
#8874   Patience is key.. I hope we hear good StocktraderDK 03/05/21 07:20:26 AM
#8873   Other companies have the same problem ... runcaly 03/05/21 03:44:54 AM
#8872   I do that’s why I’m waiting ;-) Tamtam 03/05/21 02:31:20 AM
#8871   Dr. Henry Ji to Participate in the H.C. cheynew 03/05/21 01:58:32 AM
#8870   Lot of shaking going on MrGlasses 03/04/21 10:25:15 PM
#8869   Keep an eye on the NBI index. 1776club 03/04/21 05:40:48 PM
#8868   Still in my down channel. NBI @ 4,624 1776club 03/04/21 05:35:33 PM
#8867   Most biostocks are in a downtrend. When it Tamtam 03/04/21 05:00:48 PM
#8866   I have to hand it to you, your runcaly 03/04/21 04:00:06 PM
#8865   Almost green when most other biotech and EV StocktraderDK 03/04/21 03:31:48 PM
#8864   Sorrento on Thursday crossed below the 200 day 1776club 03/04/21 03:07:05 PM
#8863   I think we will be just fine and StocktraderDK 03/04/21 02:30:08 PM
#8862   I'm now thinking nothing coming until after May 1776club 03/04/21 02:15:53 PM
#8861   They are and have been... 1776club 03/04/21 01:30:45 PM
#8860   BARDA Tracking... Last updated November 2, 2020 NO 1776club 03/04/21 01:29:22 PM
#8859   https://www.tipranks.com/news/article/sorrento-stock-is-a-buy-because-of-its-str StocktraderDK 03/04/21 12:54:01 PM
#8858   Protected: Sorrento Stock Is a Buy Because of StocktraderDK 03/04/21 12:53:23 PM
#8857   Binding antibody detection: These tests use purified proteins 1776club 03/04/21 12:34:18 PM
#8856   DUH! And for all those that are selling it vinovista 03/04/21 11:36:05 AM
#8855   Nasdaq Biotechnology Index has droped 700 points in 1776club 03/04/21 11:34:09 AM
#8854   You are not the only smart one. Over vinovista 03/04/21 11:27:39 AM
#8853   Picked up more this morning... easy triple from cussy1 03/04/21 11:22:27 AM
#8852   Look at the March 19 options, that will 1776club 03/04/21 09:54:04 AM
#8851   Like the man said... 1776club 03/04/21 09:39:43 AM
#8850   This is what large holders, 13DG, and new 1776club 03/04/21 09:38:07 AM
#8849   Hey Andeker! You can make this "right"! chxal 03/04/21 09:24:42 AM
#8848   So now is the time to buy the vinovista 03/04/21 09:00:35 AM
#8847   Well if I had made those sells I cfoofme 03/04/21 08:18:00 AM
#8846   Andecker great post ... runcaly 03/04/21 06:13:40 AM
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