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Sounds like court has given Sorrento the ability to continue with business ops. Now need to get 1 of these drug therapies in the market .
Oh boy, more borrowed money for the great Dr’s ATM machine. Let’s see how long it takes him to burn through that, maybe the BOD can give themselves more bonuses. Let’s continue to burn the longs…I need a covi-stix.
Bullish. Bearish. X. Are you kidding me?
If Ji was a football coach he'd be fired after the first season.
HeadsIwin,
I totally agree, but this company will go nowhere with the current CEO. A change will be needed or that reverse split will happen. He totally mishandled any Covid opportunities by not getting anything approved, but hyped the Brazil, Mexico and China opportunities. They will never recover what he dumped into his earth shattering Covid products.
Just hoping that SRNEQ can get back to SRNE with out a 15:1 reverse split. Even so I doubled down on my holdings @ $3.63 pps. Fundamentally same products line, except Covid is not as big issue in the US. Maybe China or other countries will be needing these products still? This lawsuit was a big upset, hope Sorrento get one drug therapy approved by FDA soon.
I wonder how the new FDA quidelines might affect Sorrento's cancer portfolio?
FDA spells out how cancer drug developers can use one trial for both accelerated and full approvals
Zachary Brennan, Senior Editor Endpoints
"The FDA’s Oncology Center of Excellence has been a bright spot within the agency in terms of speeding new treatments to patients. That flexibility was on full display this morning as FDA released new draft guidance spelling out exactly how oncology drug developers can fulfill both the accelerated and full approval’s requirements with just a single randomized controlled trial.
While Congress recently passed legislation that will allow FDA to require confirmatory trials to be recruiting and ongoing prior to granting an accelerated approval, the agency is now making clear that the initial trial used to win the AA, if designed appropriately, can also serve as the trial for converting the accelerated approval into a full approval.
OCE officials discussed this concept of a single trial in the NEJM last October, explaining: “AA could be granted on the basis of a planned interim analysis of overall response rate, and traditional approval granted on the basis of clinical benefit (usually improvement in overall survival) at the trial’s conclusion.”
But the design of that trial must be precise as FDA says in today’s draft guidance that it must be “powered for the longer-term clinical endpoint with follow-up in the same trial to verify clinical benefit,” and should ensure that the accelerated nod doesn’t inadvertently introduce bias.
So what are the benefits of such an approach? FDA points to “a more thorough safety assessment and earlier definitive evidence of the benefit–risk balance,” as well as reducing the risk of halting the drug’s development too early, or one with a limited overall response rate that may end up as an OS improvement. Moreover, the randomized trial could be conducted in patients in an earlier treatment setting, the draft adds, so the drug would reach more patients in whom efficacy might be greater.
As far as logistics, the draft notes, “The trial sample size should be chosen so that it has adequate power to detect a clinically meaningful and statistically significant improvement in both the endpoints for accelerated approval (e.g., response rate) and verification of clinical benefit (e.g., PFS or OS).”
Because the treatment landscape for cancer is constantly in flux, FDA explains that sponsors should discuss any updates with the agency, which could lead to deferred accelerated submissions until the results for a traditional approval are available. That may be a sticking point for industry, which if they run one trial and a confirmatory follow-up, can make money on the AA while the follow-up trial is ongoing.
FDA also makes clear, as with the passage of the omnibus at the end of last year stipulated, that the agency may “require, as appropriate, that studies intended to verify clinical benefit be underway prior to approval, or within a specified time period after the date of approval, of the applicable product.”
Such confirmatory trials must be carried out with “due diligence,” the agency notes, as the OCE officials previously explained in the NEJM how the median time for oncology accelerated approvals to either confirm benefit or fail was longer if the confirmatory trial was initiated after the approval. The guidance also does not discuss the expedited ways in which FDA can pull AAs if they fail those confirmatory trials, which was also included in the omnibus."
Need that portfolio update. And that windfall lawsuit money the great Dr. has already spent…where are the pumpers? Where’s the late Friday night news releases?
Where is every......anyone??
Very nice. Not holding that many yet…… Hoping to keep averaging down before they finally come out of the 11 protection program.
Hilarious. I bought 38k shares on Tuesday at $0.30. Now I'm holding 60k shares.. I averaged down to $2.10/share. Should go up from this all time low because of recent events. All positive events from here.
In the same category as ‘shutting the barn door after horses run out’, lol.
Now they cannot rebuy until the are back listed on the Nasdaq….
All those Hedge Fund Managers who recently had to sell their shares because of the bankruptcy situation are definitely kicking themselves in the ARSES because they should have held on for another week….
Never lost faith in Dr. Ji….. Let’s GO!!!
SAN DIEGO, March 17, 2023 /PRNewswire/ -- Sorrento Therapeutics, Inc. (OTC: SRNEQ, "Sorrento"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, announced that on March 16, 2023, the LA County Superior Court confirmed an arbitration award of $125 million in damages, to be paid by NantPharma, LLC ("NantPharma"). The award reflects the values of lost milestones for the approval of the drug Cynviloq® for the treatment of breast and lung cancers.
PSS does not lose. Our great leader should have focused on getting something to market instead of trying to win a case he has no chance on, and spending his windfall on a new real estate venture called the $orrento campus. His little suit put this POS into bankruptcy, off the Nasdaq, and .30 cent share price. Not sure why your still supporting this idiot.
Ok,tell us why it want ?
I can guarantee you the PSS settlement won’t happen. It will backfire for the great Dr.
NEXT 1-5 MONTHS = 5 CATALYSTS
1. SEMDEXA
2. SOCAZOLIMAB
3. ABIVERTINIB
4. OVYDSO
5. PSS SETTLEMENT
Each catalyst has blockbuster potential. And each could come next month or 5 months from now!
Interesting times!
Is a Surprise Coming for Sorrento Therapeutics (SRNEQ) This Earnings Season?
Zacks Equity Research
Thu, March 2, 2023 at 7:57 AM PST
Zacks Equity Research
Thu, March 2, 2023 at 7:57 AM PST·1 min read
In this article:
SRNEQ
+10.13%
Investors are always looking for stocks that are poised to beat at earnings season and Sorrento Therapeutics SRNEQ may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
In fact, the Most Accurate Estimate for the current quarter is currently at a loss of 15 cents per share for SRNEQ, compared to a broader Zacks Consensus Estimate of a loss of 19 cents per share. This suggests that analysts have very recently bumped up their estimates for SRNEQ, giving the stock a Zacks Earnings ESP of +21.05% heading into earnings season.
Lolll. 250 mil in debt. I posted it every month. Covid chinese scam stole like 509 mil dollars. Foools. Now srneq. Lmaooooo
Just curious. Does Sorrento Therapeutics still own 99.9% of Scilex after the dividend distribution?
Scilex is on investorshub but chats are scarce.......
Same story, switching country’s around.. just a different year. 2021 was the year, 2022 was the year, now 2023, US, then Brazil, then Mexico, then Australia, now China…..maybe North Korea next?
THE ACTION ON OVYDSO IN CHINA HAS BEEN VERY RAPID!
JAN 9. Following a successful Australian safety study in healthy volunteers Sorrento announced the very positive results from a phase 1b trial of OVYDSO in Covid patients in China. They stated that they had applied to Chinese authorities for a phase 3 pivotal trial in 1200 patients.
FEB. 2. Sorrento announced that the first patient had been dosed in a 1200 patient phase 3 trial to be conducted in 40 centers in China.
THIS IS VERY RAPID ACTION!
This trial should enroll very rapidly and results could be available as early as May IMO!
What is Next?
" “We are excited to see the similarities of PK in the China study and the Australian study. The significant antiviral effectiveness and tolerability of OVYDSO in COVID patients suggests this compound will significantly benefit patients and will require no boosting with Ritonavir. We expect to initiate the Phase 3 trial very soon in China(done!), and meanwhile we are engaging with regulatory agencies on a global Phase 2/3 trial design in order to initiate OVYDSO Phase 2/3 trials in Mexico and the U.S. as soon as possible,” stated Henry Ji, Ph.D., Chairman and CEO of Sorrento."
China first, followed by Mexico and the US, will open up an enormous Global market for a safer and far cheaper oral anti-viral to combat Covid.
Is that the Great Dr. after he ate all our investment?
PSS is just starting, the great Dr. played with matches and will soon be burned,. And if PSS leaves anything, the many class action suits coming will pick up the pennys that are left. We are excited now about China? What happened to Brazil, Mexico, and the USA??
PSS failed to destroy Sorrento
https://cases.stretto.com/public/x228/12086/PLEADINGS/1208602242380000000018.pdf
If the court approves this it will keep PSS from seeing their finances. He really wants to dig in to Sorrento finances so they can get more ammo to try to prove Sorrento didn’t need to file for bankruptcy. They’re trying to destroy the integrity/character of Sorrento.
PSS failed to destroy Sorrento
https://cases.stretto.com/public/x228/12086/PLEADINGS/1208602242380000000018.pdf
If the court approves this it will keep PSS from seeing their finances. He really wants to dig in to Sorrento finances so they can get more ammo to try to prove SRNEQ didn’t need to file for bankruptcy. They’re trying to destroy the integrity/character of Sorrento.
yup, i missed a great entry, who knew? lol
Scratch my head here lol..
SRNEQ: And, this little (Bankupt??) puppy just keeps creeping-up BARCHART's glorious global list --- despite these crappy markets of late.
https://www.barchart.com/investing-ideas/penny-stocks?orderBy=percentChange5d&orderDir=desc
That's for sure. I bailed out Tuesday to break even and got back in at .21 yesterday. GLTUA
SRNEQ: EXTREME volatility everywhere these days; but, I still think SRNEQ is a classic 'sleeper' play. E.g., don't think this will languish in Bankruptcy Court for very long.
i should have gotten….
….
back in at 17’s yesterday but congrats to those that bought low then.
SRNEQ: Easy money here today, Peeps! Where is everybody??? (Gettin' SUCKERED by 'CANCER-CURE-MORNING-GAPPERS' of the day???)
WHAT ARE SCILEX AND SORRENTO NEAR TERM SHARE PRICE MOVERS?
I'm glad to have some SCILEX shares because SEMDEXA, ZTlido, Gloperba (gout), EYYXYB (migraine) and SP-103 (lower back pain) all look like winners to me. And the sales force is already in place! And world-wide partnerships are coming!
But my main interest is in SORRENTO! They hold a majority interest in SCILEX so will benefit from SCILEX's success! But they also have ABIVERTINIB and SOCAZOLIMAB which look to be approved in the big Chinese market this year. They also have a potential multi-blockbuster in the oral anti-viral OVYDSO which China moved from a phase 1b trial directly into a pivotal phase 3 trial! This trial is obviously fast-tracked as the first phase 3 patient was dosed Feb.7! And might China also be interested in Sorrento's second generation mRNA vaccine? These also are all partnerable! And I must admit I would not be surprised to hear some good news about the SOFUSA, RTX, VIREX and DAR-T programs! And I like Sorrento's chances in the upcoming PSS trial!
There is a lot of news coming in 2023. Much of it in the next few months IMO.I don't know of another small biotech with so many potential blockbusters!
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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.
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)
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
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