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Doesn’t look down to me. 900% gains in 2 days from lows
SRNEQ up 360%
From .0226 tp .104 on 31 million+ shares
SCLX UP 2.31% to 1.33
Any news? Hope to see more up movement
Bankrupt, that's all!
SRNE is down! Doesn’t make sense. Just a fun ride is all??
Looks like insider NEWS. (But I think that’s secret;).
It would be nice if had a big continuing jump early January 2024 like last January.
$SRNEQ $SCLX On December 21, the new drug marketing application submitted by Zhaoke Oncology Drug Co., Ltd., a subsidiary of Lee's Pharmaceutical Co., Ltd., for the anti-PD-L1 monoclonal antibody socazolimab injection (Socazolimab) was approved for the treatment of recurrent or Metastatic cervical cancer. This is the sixth domestic PD-L1 monoclonal antibody and the fourth domestically produced PD-L1 monoclonal antibody approved for marketing.
Zolcazolimab (ZKAB001) was developed by the American company Sorrento. In October 2014, Lee's Pharmaceuticals introduced the development and commercialization rights of this product in Greater China.
Anyone know what is happening today? Short squeeze? Insider news? Will this equate SCLX to go up,
I had to take over, all the pumpers of this stock and its great portfolio have left. Their job was done. How’s Covi-Stix? Dr. Ji, sell off the scraps, and move to demolish Scilex. Better up the SPF Doc, you been spending too much time in the sun.
I know because you doing a Great job at it .
Believe me, this stock does not need bashers, it’s lost 99% of its value thanks to the head basher, Dr Ji. Like most here (except you) I am a frustrated investor that was scammed.
I do I do believe you are a basher
Free your soul
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).
Bankruptcy is a hell hole of thieves and miscreants.
Sounds like Ji’s circle of friends.
The living dead.....
https://chng.it/vhB8Dfs5vf
Is a RS permitted during a bankruptcy? I don't know but I would not think so.
I agree with you here, but we let him continue to do this.
No, not tax selling. Reverse split is the final nail in this POS.
That along with the corrupt (in my opinion) CEO who probably is shorting the stock like he did with SCLX
That’s a big fat negative…. More like Tax Loss selling.
Reverse split news must be leaking out. Will we get to sub penny before the news? How’s the Covid portfolio?
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.
Didn't you know
It's Late
Missed it's cycle
With new update /child
C’mon folks, were is that portfolio update?
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???
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.
Wow…. Dr Henry has “Put” Options placed against SCLX…..
https://www.otcmarkets.com/filing/html?id=16962727&guid=Cl5-kqzm3kFAB3h
He was, and he sunk it.
I thought we was on a ship like Titanic but sturdier and more modern
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?
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. :(
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
We are all hoping for $2.
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
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..
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
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…
Sorry, no. Will be here till the end. Most of us here have accepted the fact that we have been scammed.
Ok
Your words
You got a week
Then you go away
bye bye
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?
Hmmm
still bashing AhmWhst happened t. 14 cents
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.
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.”
Stock is skyrocketing, see you at fifteen cents. Fluff before the reverse split news.
They must all have went on vacation at the same time.
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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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