Sorrento Therapeutics Inc (SRNE)

[Brandywhitneylady]

Anybody still believe Ji didn’t scam us? No it’s not coming back.

I, Sharon Lee, depose and say that I am employed by Stretto, the claims and noticing agent for the Debtors in the above-captioned case.
On November 16, 2023, at my direction and under my supervision, employees of Stretto caused the following documents to be served via first-class mail on the service list attached hereto as Exhibit A, and on four (4) confidential parties not included herein, and via electronic mail on the service list attached hereto as Exhibit B, and on four (4) confidential parties not included herein:
• Declaration of Clarissa D. Cu Regarding the Solicitation and Tabulation of Votes on Joint Plan of Liquidation of Sorrento Therapeutics, Inc. and Scintilla Pharmaceuticals, Inc. Under Chapter 11 of the Bankruptcy Code (Docket No. 1560)
• Second Notice of Filing of Plan Supplement for the Joint Plan of Liquidation of Sorrento Therapeutics, Inc. and Scintilla Pharmaceuticals, Inc. Under Chapter 11 of the Bankruptcy Code (Docket No. 1564).

[malibuman]

Bankruptcy is a hell hole of thieves and miscreants.

[Brandywhitneylady]

Sounds like Ji’s circle of friends.

[GaryInPB]

The living dead.....

https://chng.it/vhB8Dfs5vf

[Monroe1]

Is a RS permitted during a bankruptcy? I don't know but I would not think so.

[Brandywhitneylady]

I agree with you here, but we let him continue to do this.

[Brandywhitneylady]

No, not tax selling. Reverse split is the final nail in this POS.

[Here Today]

That along with the corrupt (in my opinion) CEO who probably is shorting the stock like he did with SCLX

[Here Today]

That’s a big fat negative…. More like Tax Loss selling.

[Brandywhitneylady]

Reverse split news must be leaking out. Will we get to sub penny before the news? How’s the Covid portfolio?

[HeadsIwin]

What Happened to Sorento? Is there a way to get back market share?
San Diego Union-Tribune FEB. 14, 2023
Arbitration awards in long-running dispute over potential cancer treatment posed threat of short-term liquidity crunch.

San Diego’s Sorrento Therapeutics filed for Chapter 11 bankruptcy protection this week after a setback in a complex, long-running legal battle over the sale of its fledgling antibody lung and breast cancer drug in 2015.

The company, which employed more than 700 workers as of December 2021, filed for bankruptcy in the Southern District of Texas on Monday. It claims to have $1 billion in assets and $235 million in liabilities. But it opted for Chapter 11 protection because it feared “a short-term liquidity crunch” following arbitration rulings.

“As a result, Sorrento sought Chapter 11 relief to safeguard business operations and its ability to continue developing life-saving therapeutics, while protecting and maximizing value for stakeholders,” said Chief Executive Henry Ji in a statement.

Since 2019, Sorrento has been embroiled in a legal fight with entities associated with Dr. Patrick Soon-Shiong, the owner of the San Diego Union-Tribune and Los Angeles Times.

Soon-Shiong was not available to comment by press time. He invented and sold a cancer drug — Abraxane — to Celgene in 2010, reportedly for $2.9 billion. (Abraxane received U.S. Food and Drug Administration approval for the treatment of metastatic breast cancer, lung cancer and advanced pancreatic cancer in both the U.S. and E.U.)

In 2015, Soon-Shiong’s Nant family of companies, including NantPharma, purchased a potential rival drug to Abraxane from Sorrento Therapeutics. The deal included a license, milestone payments and joint venture agreements.

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In 2019, Sorrento filed two legal actions alleging fraud, breach of contract and other claims. The lawsuits contended that Soon-Shiong entities purchased the cancer drug from Sorrento to halt its progress toward coming to market in what Sorrento alleged was a “catch and kill” operation.

Soon-Shiong denied the allegation, In an emailed statement to the Union-Tribune at the time, he said the allegation was “totally without merit” and “we shall defend ourselves vigorously against this baseless allegation.”

The cases went to arbitration. In December, Sorrento was ordered to pay $173.6 million in contractual damages related to the license agreement with NantCell and Nantibody.

Later that month, NantPharma was ordered to pay Sorrento $125 million related to lost milestone payments for the cancer drug’s failure to progress toward regulatory approval.

Earlier this month, a California court stayed the bulk of the arbitration awards for 70 days. But the judge did not stay $50 million of the award against Sorrento, which means collection attempts could begin immediately.

“Sorrento assessed that enforcement actions with respect to the $50 million unstayed portion of these judgments, such as attachment of Sorrento’s assets and bank accounts, could lead to significant business disruption,” said Ji in a statement.

The company did not disclose a time frame for exiting bankruptcy. It listed NantCell and Nantibody as its two largest creditors, followed by three law firms.

As of September, the company had $70 million in cash and $47 million in marketable securities. Revenue for its third quarter was $17.4 million, and it posted a $90 million net loss.

[galang2017]

Buy and sell = all idiots…

[ezyE]

Didn't you know
It's Late
Missed it's cycle
With new update /child

[Brandywhitneylady]

C’mon folks, were is that portfolio update?

[Here Today]

I think there is a good case against Dr Ji for Insider Trading against SCLX since I do not believe he is allowed to place Put or Call Options in his position…. Anyone else thinking the same???

[Here Today]

That is a complete and utter disregard for all the shareholders who owned shares of both companies. As someone in his position with both companies to actually be placing these bets “for or against” or “calls or Puts” is despicable since he never reported until after the Situation of the extreme short/naked short shares developed.

[Here Today]

Wow…. Dr Henry has “Put” Options placed against SCLX…..

https://www.otcmarkets.com/filing/html?id=16962727&guid=Cl5-kqzm3kFAB3h

[Brandywhitneylady]

He was, and he sunk it.

[ezyE]

I thought we was on a ship like Titanic but sturdier and more modern

[Brandywhitneylady]

The train wreck continues, I guess a nickel is the next low coming. Hurry up with the reverse split so we can all end our misery. What resort are you at now scammer Ji? Let the class action begin. How’s that portfolio?

[1776club]

The more things change the more they remain the same...
SCILEX Form 8-K for Scilex Holding Co filed 09/22/2023 (gcs-web.com)

Dr. Ji was also appointed as the Executive Chairperson of the Board, effective as of September 22, 2023.

Now I feel soooooooo much better. :(

[1776club]

With FUJOVEE having a C-meeting with response from the FDA this month does SCILEX's future hang in the balance? One way or the other the answer is yes. But what about SORRENTO and its future. Mpro looks to be it with P3 data compiled and posted, maybe, this month. Good news in China but how about the US, not so much. In case anyone forgot back in February 2022 there are at least 25 applications from China in drug development phases, planned to be submitted or already under review by the FDA, that are predominantly or solely based on trial data from China, the FDA said ahead of the panel vote, without naming the products. "Single country submission is a step backward in achieving the racial diversity that we need in the United States," Richard Pazdur, director of the FDA's Oncology Center of Excellence, told the panel.
There's trouble in China and that trouble is not only PLAXLOVID
Why Mpro in China you ask?
China’s total Covid-related death count is about 390,000, with a potential range of 77,000 to 945,000 based on fatalities seen in other countries. But that could be very wrong.
BEIJING, Aug 25 (Reuters) - China's abrupt move to dismantle its strict COVID-19 regime, which unleashed the virus onto its 1.4 billion residents, could have led to nearly 2 million excess deaths in the following two months, a new U.S. study shows.

This has doubters but they are educators involved in Equity and look to promote unequitable reasons for higher deaths due to social reasons. "Scientists have identified a gene that doubles the risks of respiratory failure and death from Covid. The latest study homed in on a single gene called LZTFL1, which was revealed to double the risk of respiratory failure and death."
The gene, which changes the way the lungs respond to infection, is the most important genetic risk factor identified so far and is carried by roughly 60% of people with south Asian backgrounds, compared with 15% of those with white European backgrounds. The finding could partly explain the excess deaths seen in some communities in the UK and the impact of Covid-19 in the Indian subcontinent.
Prof James Davies, a geneticist at Oxford University’s Radcliffe Department of Medicine and a senior author of the paper, said: “The genetic factor we have found explains why some people get very seriously ill after coronavirus infection … There’s a single gene that confers quite a significant risk to people of south Asian background.”
From China in January 2023 “State-run nationalist tabloid Global Times on Monday ran an opinion piece blaming “US capital forces” for China’s inability to cut a deal with Pfizer to include the pills in the national insurance. In short, remembering that fellow in NYC, THE PRICE IS TOO DAMN HIGH.
“During the past days, a growing number of US politicians and media outlets have been making shrill ‘warnings’ about the epidemic in China … If they do care about it, why don’t Pfizer drop some pursuit of the profit, and cooperate with China with a little more sincerity?” said the article.
In short, China needs something and that could be Mpro, Olgotrelvir (OVYDSOTM) (STI-1558), a Second Generation Oral Mpro Inhibitor, as a Standalone Treatment for COVID-19 waiting top line data from the study in the third quarter of this year (that would be NOW)...but how do we live long enough to prosper. Slowrento needs money to continue, sale of SCILEX stock perhaps or other assets, a partner in China and the US as well as promotion. Still, an RS is still in the cards as well as C7.
Frustration is rising over Covid drug shortages in China, and there are no easy answers

[Brandywhitneylady]

We are all hoping for $2.

[ezyE]

You do know the last time you said going to 14 cents
It went up past 20 cents

Let's hope for $2.00 dollars

[Brandywhitneylady]

It already sank. The great Dr. was drilling holes in the sinking ship to let the water out. Sitting down next to the Titanic. By the way, another great day, here comes fourteen cents..

[ezyE]

lWhar smart person stays on a sinking ship ?

Especially when they self proclaim it's going to sink like the Titanic

I got it you want to be a hero

Like L eaonardo Decapio

[HeadsIwin]

USS Sorrento Therapeutics
While I was shoveling coal in the furnace, we hit something big.
I got to the deck of the ship and we had hit a ice burg, tore a huge hole in the bow. Unfortunately all the life boats were launched and no life jackets left.
Luckly, we have 551.28M cubic feet of bouncy when we shut the cargo holes of; covid- immunotherapy- pain- lymphatic drug delivery.
I am and many others are holding on hope the crew can make repairs before the ship goes down…

[Brandywhitneylady]

Sorry, no. Will be here till the end. Most of us here have accepted the fact that we have been scammed.

[ezyE]

Ok
Your words
You got a week
Then you go away
bye bye

[Brandywhitneylady]

Give it another week unless the reverse split news comes sooner. The great Dr will do what he can to pump it up before he pulls the plug. You really think a bankrupt stock will come back?

[ezyE]

Hmmm
still bashing AhmWhst happened t. 14 cents

[Brandywhitneylady]

Good, the $110 million should cover Ji, and his cronies bonuses this quarter. Remember his salary is $150,000 a week..for finding the cure for Covid, and scamming his investors.

[youssef]

https://finance.yahoo.com/news/sorrento-stock-deal-emerges-days-213416011.html

[youssef]

From Endpoints website, which lists Adam F as an editor — they couldn’t hold this news back. “Sorrento Therapeutics’ oral Mpro inhibitor olgotrelvir has hit the primary endpoint and a key secondary endpoint in a Phase III trial that recruited adults with mild-to-moderate Covid. Subsequently, the company has reached out to China’s NMPA with an eye to submitting an NDA for expedited review. In the primary endpoint of median time to sustained recovery of 11 Covid symptoms, olgotrelvir reached 8.6 days compared with 11 days with placebo. It also reduced participants’ viral load compared with placebo.”

[ezyE]

okay 🤣🤣🤣🤣🤣🤣🤣🤣

[Brandywhitneylady]

Stock is skyrocketing, see you at fifteen cents. Fluff before the reverse split news.

[Here Today]

They must all have went on vacation at the same time.

[Here Today]

Surprised none of the naysayers have nothing to say now????

[Here Today]

Sorrento Announces Phase 3 Trial Met Primary Endpoint and Key Secondary Endpoint in Mild or Moderate COVID-19 Adult Patients Treated with Ovydso (Olgotrelvir), an Oral Mpro Inhibitor as a Standalone Treatment for COVID-19

In the phase 3 trial, a randomized double blind and placebo-controlled pivotal study, 1,212 mild or moderate COVID-19 patients were enrolled and treated with OVYDSO™ (Olgotrelvir) or placebo. The primary endpoint was time to sustained recovery of 11 COVID-19 related symptoms and the key secondary endpoint was the viral RNA copy load reduction.

Ovydso significantly shortened clinical recovery time of 11 COVID-19 related symptoms by 2.4 days (8.6 days vs 11.0 days, HR 1.29/95%CI, P=0.0001) and reduced the viral RNA load at Day 4 (three days after treatment) by -0.80 log10 (p<0.0001) compared with the placebo group.

Most adverse events (AEs) were mild and balanced between Ovydso group and placebo group. Among AEs >1%, nausea (1.5% vs 0.2%) and skin rash (3.3% vs 0.3%) were more frequent in the Ovydso group than in the placebo group.
We have initiated communications with the China Health Authority (National Medical Products Administration, or NMPA) for a submission of a new drug application (NDA) and expedited review of the application based on the Phase 3 trial results.

We also plan to open dialogue with other regulatory agencies around the world to discuss potential paths to approval.


SAN DIEGO, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (OTC: SRNEQ, “Sorrento”) announced today positive topline results of a pivotal Phase 3 study of Sorrento’s oral Mpro inhibitor, Ovydso (Olgotrelvir, STI-1558), in mild or moderate symptomatic adults infected with SARS-CoV-2, or COVID-19, irrespective of risk factors for severe complications. Ovydso is an Oral Mpro Inhibitor as a standalone treatment for COVID-19 meaning it does not require co-administration with other agents. The Phase 3 study results met the primary endpoint of time to sustained recovery of 11 COVID-19 symptoms, as well as the key second endpoint of the viral RNA copy load reduction at Day 4 (after three-day treatment).

In this phase 3 trial, 1,212 patients were enrolled in China between February 2023 and June 2023, and 98.7% of the patients were vaccinated or previously infected with SARS-CoV-2. All patients were treated in an out-patient setting and received 600 mg BID of Ovydso for 5 days as a standalone treatment or placebo. The median time to sustained recovery of 11 COVID symptoms was 8.6 days in comparison with 11.0 days in the placebo group (HR 1.29/95% CI, p=0.0001). Ovydso also demonstrated profound antiviral activity in COVID-19 patients at Day 4 (three days after treatment), reducing the viral RNA copy load by -0.8 log10 (p< 0.0001) compared with placebo group. Results of subgroup analyses were largely consistent with these overall results. In patients with risk factors for severe COVID-19, Ovydso improved recovery time by 2.3 days (7.6 days vs 9.9 days, HR 1.36/95% CI, p= 0.026) and reduced viral RNA copy load by -1.10 log10 (p<0.0001) at Day 4, compared with the placebo group.

A total of 327 Treatment–Emergent Adverse Events (TEAEs) were reported in 1,212 patients (27.0%). Among them, 188 of 606 (31.0%) were in the Ovydso group and 139 of 606 (22.9%) were in the placebo group. Most TEAEs were mild and balanced between the Ovydso group and the placebo group. Nausea (1.5 % vs 0.2%) and skin rash (3.3% vs 0.3%) were the only two AEs that occurred with >1.0% with higher incidence in the Ovydso group than in the placebo group. No metallic taste was reported in the Ovydso group. Very few serious AEs were reported (4 in placebo and 3 in Ovydso), which were not related to the drug. The Phase 3 study was conducted at 25 sites in China, led by Dr. Hongzhou Lu, Fellow of the American Society for Microbiology, Professor and Dean of Shenzhen Third Hospital and co-led by Dr. Ronmeng Jiang, Professor and Deputy Dean of Beijing DiTan Hospital. Sorrento has initiated communications with the NMPA for an NDA submission and potential approval in China. Sorrento plans to open discussions with other regulatory authorities worldwide to discuss the potential path required for each particular authority for a full approval of Ovydso.

“We are very excited to see that the phase 3 results met the primary and key secondary endpoints. When the data are finalized, we look forward to working closely with the NMPA to submit an NDA, aiming to deliver Ovydso as a potential stand-alone treatment for COVID-19 patients as rapidly as possible,” stated Henry Ji, Ph.D., Chairman and Chief Executive Officer of Sorrento.

[Here Today]

Sorrento Announces Phase 3 Trial Met Primary Endpoint and Key Secondary Endpoint in Mild or Moderate COVID-19 Adult Patients Treated with Ovydso (Olgotrelvir), an Oral Mpro Inhibitor as a Standalone Treatment for COVID-19

[ezyE]

Yes love
What you call not bashing

[Brandywhitneylady]

Perhaps if there was a credible CEO with this company, the phase 2 information we would be getting would not be driving this company below 20 cents. The bankrupt soon to reverse split company. You really think he can bring anything to market? How did he do during Covid. Remember he had the “cure”?

[1776club]

Let's get serious for a second, but no more than that. BoB is excited about the 8K that Scilex posted today, Sept 11, 2023, which states "Scilex participated in the type C meeting for purposes of pre-NDA discussion with the FDA and is pending official minutes in writing from the FDA."

So, it is a Pre-NDA meeting which is a 21 CFR 312.47 meeting. That means it can be either

1. End-of-phase 2 and pre-phase 3 meetings; is a second P3 required?
2. Pre-new drug application/biologics license application meetings

When this happened is unknown but the meeting package for a Type B meeting must be delivered — At least 4 weeks before the formal meeting, so Late July or early August. The official, finalized minutes will be issued to all FDA attendees (with copies to appropriate files) and to the sponsor or applicant within 30 days of the meeting. So, it would seem, the response from the FDA will come in September.

Yea-but... the SEC does not require companies to disclose all material information. So, will the shareholders learn anything new? Does SCILEX have to disclose, probably not. Does SRNEQ have to disclose since it is in BK, probably not as no BOD member is on the BOD of SCILEX... but Elizabeth Czerepak, M.B.A. is Executive Vice President, Chief Financial Officer and Chief Business Officer for SRNEQ as well as SCILEX. Does that complicate things, do not know but as all things Sorrento, It's a secret.

[cfoofme]

Perhaps reading up on completed Phase 2 trials would enlighten your understanding here.

[1776club]

Hi Andecker... busy writing a process manual. I pretty much saw the handwriting on the subway walls and tenement halls so I saw no value in doing any more research. Bad government leads to bad economy leads to bad stock market leads to narcissism and hubris breaking out into bad management who knew nothing about stop loss and the art of surviving which he had to do at the end and much poorer for it. Having rambled on with that I do see some possibility in Mpro as Chinas troubles are getting worse by the week and the Flu season, Covid-19 etc) will be ramping up soon and Xi Jinping will need to throw his people hope. PD L1 statis is in doubt but here I sit watching a very large woman warming up in the wings just in case a Hero Pharmaceutical doesn't show up. Had a funeral for bud light and a "reveal" for Modelo this year... parties make you forget your troubles. So many microbreweries so little time. Hope all is well with you.

[HeadsIwin]

Shit this stock has doubled in 5 days what a investment!

[Au$tin]

Totally disagree. Good luck to you.

[Here Today]

Sorrento Therapeutics Announces Positive Phase 2a Clinical Trial Results for Resiniferatoxin (RTX) for the Treatment of Knee Pain in Moderate to Severe Osteoarthritis of the Knee (OAK) Patients
All study objectives were met, demonstrating safety across dose groups and confirming efficacy and durability at the selected doses against placebo (lidocaine) and active control (steroid).
All RTX doses (7.5 to 20 µg) were well-tolerated, with few severe or serious adverse events (AEs). The majority of reported AEs related to pain post-administration and resolved within hours following treatment. Very few severe AEs were reported across groups (including placebo) with no dose correlation. RTX post-injection administration pain was easily controlled.
RTX 20mcg dose outperformed all other dose groups (including the approved drug for this indication (intra-articular corticosteroids)) for efficacy and durability at and beyond 26 weeks post-treatment. RTX 20mcg and 12.5mcg have been selected as the clinically optimal and minimally effective doses for further phase 2 pivotal or phase 3 trials.?

[Andecker]

Hey 1776! Andecker here! When did you return? I left about 1 yr ago but peaking in on occasion but seeing same old poo - would leave once again. Not sure what to think here - can't get much worse. I had hoped we would have put feet to fire of those those brokerage houses that may have traded illegally?!!? The POOF - nothing! My only thought right now is - if SRNE didn't have value / things about to happen for us, wouldn't the good Judge Jones have said long ago, "...OK, we are done here. Nothing left to do or slice up. Secured debtors - here is your 10 cents on the $. Common stock holders - well sorry - no parting fits for you of any sort!" I have a glimmer of hope we come out whole w/out a reverse split.
Cheers! Had myself a Coors Banquet this evening and a Drewrys Lager as I watched my Motor City Kitties beat KC.

[Brandywhitneylady]

Fluff with a capital F.