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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.


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



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: Current Report Filing (8-k) 05/18/2022 12:03:32 PM
SRNE News: Scilex, a Sorrento Company, Announces Initiation of a Phase 2 Study to Evaluate the Safety and Efficacy of SP-103 in Subjects with Acute Low Back Pain 05/18/2022 05:30:00 AM
SRNE News: Sorrento Therapeutics, Inc. Appoints Former Roche Executive Tammy Reilly to the Board of Directors 05/18/2022 05:00:00 AM
SRNE News: Sorrento’s License Partner, Lee’s Pharm, Announces Full Enrollment of 498 Patients in a Phase III Trial of Socazolimab (Anti-PD-L1 Antibody) for First-Line Treatment of Extensive-Stage Small-Cell Lung Cancer (ES-SCLC) 05/17/2022 07:00:00 AM
SRNE News: Sorrento Announces FDA Authorization to Proceed With Phase 2 Study of Abivertinib (Fujovee™) to Treat Metastatic Castrate Resistant Prostate Cancer (MAVERICK Trial) 05/17/2022 05:00:00 AM
#13377  Sticky Note In a late March interview Dr.Ji emphasized SEMDEXA dia76ca 03/28/22 02:38:53 PM
#12862  Sticky Note SRNE up 596% per Motley Fool… Sorrento Therapeutics: A CharlesNet 02/08/22 06:16:05 PM
#13733   I believe you short but being for unvestors not. ezyE 05/18/22 09:14:02 PM
#13732   Of course I don't know her. What FitzyP33 05/18/22 08:58:07 PM
#13731   You dont even know her. Did mot know they ezyE 05/18/22 06:15:34 PM
#13730   In California they passed a law requiring publicly 1776club 05/18/22 04:53:36 PM
#13729   Applying critical thinking and experience is not guessing. FitzyP33 05/18/22 04:03:24 PM
#13728   You said not a top candidate. Now you saying ezyE 05/18/22 03:51:30 PM
#13727   Really? "Know for sure"? FitzyP33 05/18/22 03:08:02 PM
#13726   And how do you know this for sure ezyE 05/18/22 02:17:09 PM
#13725   Just posted new CFO bio on the website. FitzyP33 05/18/22 01:27:24 PM
#13724   Not a top candidate. In fact a FitzyP33 05/18/22 01:11:06 PM
#13723   Read the 8-K. Mrs. C resigned her FitzyP33 05/18/22 01:10:10 PM
#13722   No retraction. FitzyP33 05/18/22 01:09:14 PM
#13721   I guess they was smart enough to make ezyE 05/18/22 01:03:51 PM
#13720   Guess they finally decided they weren't that smart 1776club 05/18/22 12:40:42 PM
#13719   SORRENTO THERAPEUTICS, INC. HeadsIwin 05/18/22 11:30:42 AM
#13718   Most damn shorts are F***king liars here..! Who galang2017 05/18/22 11:25:26 AM
#13717   Lol, care to retract? So much for bankruptcy ezyE 05/18/22 10:45:27 AM
#13714   SAN DIEGO, May 17, 2022 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: runcaly 05/17/22 03:38:17 PM
#13713   “Sorrento Therapeutics, wholly owned subsidiary of HeadsIwin 05/17/22 11:53:12 AM
#13712   SAN DIEGO, May 17, 2022 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: runcaly 05/17/22 09:04:24 AM
#13711   cheynew, who I know from several other stocks, dia76ca 05/16/22 03:52:52 PM
#13710   A LOT in the S-4 filing...few quick takes: runcaly 05/16/22 12:20:29 PM
#13709   SORRENTO THERAPEUTICS, INC. Institutional Ownership HeadsIwin 05/16/22 11:26:24 AM
#13708   Sector: Financials HeadsIwin 05/16/22 10:36:51 AM
#13707   Looks like the pipeline collapsed. 1776club 05/16/22 09:21:28 AM
#13705   Light reading for the weekend. The SPAC 1776club 05/14/22 02:27:13 AM
#13704   We need a new list. All studies to 1776club 05/13/22 03:14:23 PM
#13703   WHATSUP???? FAILURE???? MATERIAL EVENT UNREPORTED? 1776club 05/13/22 02:32:47 PM
#13702   Shame we can't fly like this one: creakyhottie 05/13/22 10:54:58 AM
#13700   Yes, transparent. I was short and covered FitzyP33 05/13/22 09:51:30 AM
#13699   VERY well said 1776. Spot on. It is Andecker 05/12/22 10:43:12 PM
#13698   As transparent as a freshly cleaned window pane. vinovista 05/12/22 02:18:28 PM
#13697   that is something i hear alot-- former CFO's dominate 05/12/22 01:58:10 PM
#13696   Don't care, 6,700 shares at $1.15 today. 1776club 05/12/22 10:26:35 AM
#13695   The sky is falling! The sky is falling! vinovista 05/12/22 08:37:54 AM
#13694   I guess CFO's are like socks get changed often. HeadsIwin 05/12/22 06:40:03 AM
#13693   Don't know, don't care. Your April 29,2000 FitzyP33 05/12/22 06:31:49 AM
#13692   Wow, the great Dr. is really desperate, expect Brandywhitneylady 05/11/22 10:04:46 PM
#13691   You are right on the number of OS, 1776club 05/11/22 07:24:55 PM
#13690   Line from the Q: FitzyP33 05/11/22 05:01:30 PM
#13689   O/S shares on 4/29/22 from the front page FitzyP33 05/11/22 05:00:25 PM
#13688   Would not be the first time, but I 1776club 05/11/22 04:54:26 PM
#13687   BTW....and I encourage all to do this....I called FitzyP33 05/11/22 03:55:02 PM
#13686   it's over dude. anyone still in this FitzyP33 05/11/22 03:45:25 PM
#13685   The NBI is taking a dive as baby 1776club 05/11/22 03:05:38 PM
#13684   $140 million bucks and it's over??? Really. 1776club 05/11/22 03:02:05 PM
#13683   There was 10 tons of it so yea, 1776club 05/11/22 02:56:29 PM
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