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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: Sorrento Announces Promising Results in a Publication Detailing of Salicyn-30 and Other Salicylanilides in Reducing SARS-CoV-2 Replication and Suppressing Induction of Inflammatory Cytokines in a Rodent Model 12:57 PM
SRNE News: Sorrento Mexico and the National Institute of Genomic Medicine (INMEGEN) of Mexico Government Execute Memorandum of Understanding (MOU) for Rapid Clinical Development of COVID-19 Diagnostics, Therapeutics and Multivalent mRNA-Based Vaccines Against SARS... 08/03/2021 09:00:00 AM
SRNE News: Sorrento Gets Fed Go-Ahead to Test Myeloma Med 08/03/2021 06:39:19 AM
SRNE News: Sorrento gets FDA greenlight for early-stage CD38 DAR-T multiple myeloma study 08/02/2021 09:10:00 AM
SRNE News: Sorrento Receives FDA Authorization to Start Phase 1 Clinical Trial of Proprietary, "Off-the-Shelf", Allogeneic anti-CD38 DAR-T (Dimeric Antigen Receptor-T) Cell Therapy to Treat Relapsed or Refractory Multiple Myeloma 08/02/2021 09:00:00 AM
News News Alert: Sorrento Announces Promising Results in a Publication Detailing of Salicyn-30 and Other Salicylanilides in Reducing SARS-CoV-2 Replication and Suppressing Induction of Inflammatory Cytokines in a Rodent Model 08/04/2021 12:57:08 PM
PostSubject
#10821  Sticky Note I LIKE OUR CHANCES! dia76ca 07/28/21 12:07:06 PM
#10765  Sticky Note Updated repost: With the Mexican COVI-STIX EUA approval(and dia76ca 07/24/21 10:46:52 AM
#10164  Sticky Note SORRENTO ANNOUNCES ADDITION OF COVI-STIX(TM) (COVID-19 VIRUS RAPID runcaly 06/02/21 07:03:28 AM
#10913   I'll wait to do that. 1776club 08/04/21 02:14:05 PM
#10912   All studies start with mice. So far Salicyn-30 dia76ca 08/04/21 01:54:04 PM
#10911   this Rat just added more again... vegasandre 08/04/21 01:47:20 PM
#10910   Can someone delist this lying Chinese company please. Harbor6460 08/04/21 01:43:26 PM
#10909   Yup, but we are in Rats and then 1776club 08/04/21 01:32:09 PM
#10908   1:15p ET 8/4/2021 - Dow Jones cheynew 08/04/21 01:19:23 PM
#10907   Sorrento Announces Promising Results in a Publication Detailing cheynew 08/04/21 01:13:28 PM
#10906   New News Pr. See up above creakyhottie 08/04/21 01:06:46 PM
#10905   How does that song go... You take the 1776club 08/04/21 01:06:20 PM
#10904   I had a broker like that when I 1776club 08/04/21 01:01:01 PM
#10903   He’s not so pure. SRNE doesn’t know how Biggiee 08/04/21 11:23:43 AM
#10902   I think Cramer is retarded. He says Sorrento ChickenHawk0-001avg 08/04/21 11:16:18 AM
#10901   A little food for thought for our friends 1776club 08/04/21 10:43:28 AM
#10900   My Hindsight is much better. LOL 1776club 08/04/21 09:12:02 AM
#10899   Thank you for your insight. PAUL and Ola 08/03/21 10:55:42 PM
#10898   Paul Snowman posted in Reddit 7 hrs ago PAUL and Ola 08/03/21 10:47:49 PM
#10897   Interesting thing is that the FDA says trials 1776club 08/03/21 10:24:21 PM
#10896   I like to think that is true but 1776club 08/03/21 10:16:12 PM
#10895   Since the 2nd Q #'s did not come 1776club 08/03/21 10:07:43 PM
#10894   I don't know when Sorrento acquired SmartPharm, but PAUL and Ola 08/03/21 09:54:57 PM
#10893   The ANP acquisition should close soon. Between SmartPharm dia76ca 08/03/21 09:41:01 PM
#10892   OK, but it seems to be another reflection PAUL and Ola 08/03/21 07:32:25 PM
#10891   SmartPharm was awarded $34 million by DARPA to dia76ca 08/03/21 07:24:00 PM
#10890   At this juncture I would go with your 1776club 08/03/21 07:20:57 PM
#10889   Why has the approach to this target been PAUL and Ola 08/03/21 05:54:37 PM
#10888   I could be wrong about an acquisition being dia76ca 08/03/21 05:45:14 PM
#10887   Just too funny. 1776club 08/03/21 05:40:25 PM
#10886   I know what you mean. But sometimes there 1776club 08/03/21 05:38:09 PM
#10885   LOL...hey did I mention the Toilet and the...well 1776club 08/03/21 05:34:58 PM
#10884   I like pumpkin pie?? ezyE 08/03/21 05:26:46 PM
#10883   There is new elephant in the room that's dia76ca 08/03/21 04:29:28 PM
#10882   Why does Blackrock(the worlds largest asset management company) cfoofme 08/03/21 04:26:09 PM
#10881   https://www.rt.com/news/530770-mexico-hostage-vaccines-pharmaceutical-companies/ Penny chatter 08/03/21 04:15:56 PM
#10880   https://seekingalpha.com/amp/article/4439795-sizing-up-sorrento-therapeutics-aga Jesspro 08/03/21 04:09:25 PM
#10879   See now I can't Bathe either zephyroo 08/03/21 01:27:06 PM
#10878   1000000000% accurate. vegasandre 08/03/21 01:25:39 PM
#10877   . ChickenHawk0-001avg 08/03/21 12:23:44 PM
#10876   ROTFLMAO!!! COME-ON, "a new multi-valent mRNA Vaccine 1776club 08/03/21 11:39:56 AM
#10874   VIVA MEXICO! Talk about government co-operation! And a dia76ca 08/03/21 10:25:14 AM
#10873   I think this backs you up. PAUL and Ola 08/03/21 10:24:27 AM
#10872   Looks like Mexico and Sorrento are connected at 1776club 08/03/21 10:19:07 AM
#10871   Most shares are owned in iShares ETF's. Long_shortguy 08/03/21 10:00:01 AM
#10870   These dudes are busy … MADDSTACKER 08/03/21 09:12:02 AM
#10869   Sorrento Therapeutics Mexico (“Sorrento Mexico”) and INMEGEN have runcaly 08/03/21 09:04:54 AM
#10868   A repeat of yesterday’s news: cheynew 08/03/21 07:36:14 AM
#10867   The world is f@#$&d. We now have a Jesspro 08/02/21 10:54:34 PM
#10866   That was quite interesting article that Jesspro post# 1776club 08/02/21 08:27:39 PM
#10865   Why does Blackrock(the worlds largest asset management company) dia76ca 08/02/21 06:52:28 PM
#10864   Great find Jesspro .. runcaly 08/02/21 06:36:59 PM
#10863   Not bad company...AND WE'RE #1! 1776club 08/02/21 05:47:02 PM
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