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Turning Point is about 5 minutes from Sorrento. It is surrounded by three Pfizer buildings. Speculation is endless until we find out who the players are. Hopefully the good Doctor Ji is not considering adding another hat to his heavily burdened noggin. If this is a master chess game, we should have some answers on the Monday move.
The Brian Sun announcement makes little sense on the surface. He joins another cancer company with an outstanding small cell candidate, Repotrectnib. It has FDA Breakthrough Therapy and Fast Track designations. Turning Point has 50 employees including Annette North, the Executive Vice President and General Counsel. In the normal pecking order, Brian, a Senior VP would be answering to Annette who is heavily vested in TPTX stock options. There are no announcements about Brian or Annette resigning from their current positions.
Major investors in both companies include Vanguard, Blackrock and most recently, Norges Bank.
This move goes into effect on Monday, April 11th. Should be interesting when the smoke clears.
Update posted today! RTX
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Resiniferatoxin to Treat Severe Pain Associated With Advanced Cancer
The safety and scientific validity of this study is the responsibility of the study sponsor and investigators. Listing a study does not mean it has been evaluated by the U.S. Federal Government. Know the risks and potential benefits of clinical studies and talk to your health care provider before participating. Read our disclaimer for details.
ClinicalTrials.gov Identifier: NCT00804154
Recruitment Status : Recruiting
First Posted : December 8, 2008
Last Update Posted : March 9, 2022
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Trying to ignore all the pumps and shorts and came up with the following. If my figures are even close, I think my investment in Sorrento is still a pretty safe bet for the long term.
Sorrento Outstanding Share Count
307.6 million as of Feb 20, 2022 (TD Ameritrade)
Institutional Ownership Percentages
Jan 28, 2022 23.81% or 73.2 million shares
Feb 15, 2022 27.64%
Feb 16, 2022 27.77%
Feb 17, 2022 28.65%
Feb 18, 2022 28.98%
Feb 19, 2022 29.02% or 89.3 million shares
89.3
-73.2
+16.1 million share increase (5.21%) since January 28th.The last 5 day buying pattern is obvious.
The smartest money managers in the world are buying up
Sorrento stocks at the lowest share prices of the year,
averaging around $3 per share. If this were going in the opposite direction I would be very concerned.
Very encouraging that of the 37 test entries listed, going back two years, the COVISTIX test is the only one with a 2022 date.
$604 million to acquire a small pain management company. Gives you an inkling of the coming value of Scilex.
https://ir.collegiumpharma.com/node/10566
Blackrock increased to 6.9% ownership!
https://investors.sorrentotherapeutics.com/static-files/3162cb4a-bca6-41bd-8d8c-f6c1777f8d01
No case numba? Wong answer!
Starting January 31st, self test kits allowed to be sold through pharmacies and online. This should be a real boost for Brazil Sorrento kits.
https://www.emergobyul.com/blog/2022/01/brazilian-regulators-allow-sales-covid-19-self-test-kits-consumers
https://www.prosalud.me/producto/covi-stix-prueba-rapida-de-antigeno-covid-19-caja-con-25-piezas-entrega-inmediata-cofepris-indre/
The site also shows the prices for the ABBOTT and ROCHE tests as about $17 US each. The COVISTIX reduced price is $14.18 US per test. That probably explains the recent Mexico City purchase contract with Sorrento.
covistix.com is a really informative new web site. Works great by typing it in. I keep trying Google and BING searches and none will produce that result.
How is that possible?
Very informative story on BlackRock.
https://www.foxnews.com/us/consumer-watchdog-blackrock-going-woke-investing-in-china
Very nice piece of investigating. Thank you!
Guess who is on the Board of Directors?
Henry-headshot.png
HENRY JI
BOARD MEMBER
Chairman, President and CEO of Sorrento Therapeutics. Henry has 25+ years of experience in the life sciences and biotechnology industry. During his tenure at Sorrento, he has engineered and led a phenomenal growth of Sorrento through acquisition and merger including Bioserv, Scilex Pharmaceuticals, Concortis Biotherapeutics, Levena Biopharma, LACEL, TNK Therapeutics, Virttu Biologics, Ark Animal Health, and Sofusa Lymphatic Delivery Systems Before founding and leading Sorrento, Henry has held positions at CombiMatrix, Strategen and also co-founded Stratagene Genomics, a subsidiary of Stratagene, and served as its President & CEO and Director of the Board.
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People screaming for monoclonal antibody transfusions. The $600 in-home transfusion should be available for everyone. It eliminates the nightmare hospitalization problems. So many promising solutions available and the FDA continues licking the boots of Big Pharma.
https://www.newsmax.com/health/health-news/monoclonal-antibodies-infusion-covid-hospitalization/2021/08/27/id/1034090/
Not sure this has anything to do with our Sorrento. The company is Sorrento Technology Holdings out of Las Vegas, NV. The principal of Pathway Innovations, Ji Shen, runs the computer Technology company. Would be nice if they published a clear connection to Sorrento Therapeutics.
INNOVA antigen test FDA recall.
https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/innova-medical-group-inc-614819-06102021
INNOVA claims to be the largest test manufacturer in the world, producing millions of these kits, identical to Sorrento's. They may have even submitted Sorrento's testing results. A Class I Recall, the most urgent. It involves false labeling, testing submission/results. How is this even possible today, with all the continuous scrutiny?
Another major pharm COVID-19 failure. How long before Sorrento is released to the world?
https://www.nejm.org/doi/full/10.1056/NEJMoa2028700
CONCLUSIONS
In this randomized trial involving hospitalized patients with severe Covid-19 pneumonia, the use of tocilizumab did not result in significantly better clinical status or lower mortality than placebo at 28 days. (Funded by F. Hoffmann–La Roche and the Department of Health and Human Services; COVACTA ClinicalTrials.gov number, NCT04320615. opens in new tab.)
I do think this FDA approval announcement could be a policy breakthrough. The Abbott test is more complicated due to several versions. The Quidel test appears to be the same type of COVI-STIX cassette test. The major change is the Over The Counter, no prescription authorization.
https://www.fda.gov/news-events/press-announcements/coronavirus-covid-19-update-fda-continues-advance-over-counter-and-other-screening-test-development
Quidel is building their production facility in Carlsbad, CA, with operation set for the second half of 2021. The attached FDA announcement has some relevant statements concerning Sorrento. "If it's a good test, we'll authorize it", and "if shown to be accurate and reliable, and issuing enforcement policies for COVID-19 tests". According to the claims, COVI-STIX is more accurate than the QuickVue. Presumably Sorrento has a warehouse full of their tests and are ready to go. At this point any reasonable person has to ask if the FDA holdup is due to a problem with the test or manufacturing standards. A company explanation would be helpful but is probably not coming, either way, thanks to all the legal vultures. I would caution any attempt to gather a crowd and head to the FDA gate with torches. The test kit is such a relatively small part of Sorrento's vast pipeline, you do not want to burn any of those FDA bridges.
Resiniferatoxin Knee Pain study had a status change on April 1, 2021. Study "Completed", maybe we can now get some results.
https://clinicaltrials.gov/ct2/show/NCT03542838
The FDA just approved two new at home, non prescription tests. Neither one as accurate as Sorrentos.
https://www.msn.com/en-us/health/medical/fda-authorizes-rapid-non-prescription-covid-19-tests/ar-BB1fdq5W?ocid=msedgdhp
This is NOT a TEST KIT. It is a collection kit, unlike Sorrento's home test. The FDA will approve anything that will report results back to a government agency. The COVID Industry has become so powerful with the full backing of the FDA. They continue to refuse to allow people to make decisions in their own home.
Good UPS Pilots Covi-Stix story that has the cassette photo attached. If the story is accurate, I wonder why Sorrento would not comment for the article.
https://www.freightwaves.com/news/scoop%3A-ups-pilots-try-rapid-covid-test-to-avoid-hong-kong-quarantines
New updates on Sorrento licensed COVID tests at Columbia. Results published in Nature.com.
https://www.cuimc.columbia.edu/news/one-two-three-spit-covid-19-test-born-columbia-fertility-clinic#:~:text=Researchers%20at%20the%20Columbia%20University,results%20in%20about%2030%20minutes
https://www.nature.com/articles/s41598-021-84792-8.pdf
Sorrento's purchase of ANP Technologies could not have come at a better time. Earlier this month, the Inspector General's Office issued a blistering report on the Biological Threat Detection Capabilities organization. ANP systems already have deep government and military ties with their portable detection systems. They may be working overtime to catch up with the new demands.
https://www.oig.dhs.gov/sites/default/files/assets/2021-03/OIG-21-22-Mar21-Redacted.pdf
https://www.anptinc.com/biothreat-detection-system
Ridgeback and Merk Covid Pill announcement. You have to hand it to Merk in the PR area. They hook up with a company whose self description in the first ten words include "woman owned" company. They have not even released all the details of their findings but still drop a media bombshell. In the current atmosphere, can you even imagine denying this company any funding they request? Not even close to Sorrento's progress but almost guaranteed to profit.
www.businesswire.com/news/home/20210305005610/en/Ridgeback-Biotherapeutics-and-Merck-Announce-Preliminary-Findings-from-a-Phase-2a-Trial-of-Investigational-COVID-19-Therapeutic-Molnupiravir
British Airways Rapid Test
British Airways has come up with a procedure to get around the FDA insistence on a reporting requirement. The $46 Qured test is identical to the much cheaper, quicker, accurate Sorrento test. There HAS TO BE a way Sorrento can get this to market, with or without an FDA approval.
https://simpleflying.com/british-airways-covid-tests/
$1.15 Bil just approved for Long Term COVID. Hopefully Sorrento can get some funding for their existing study.
https://www.nbc12.com/2021/03/04/medicine-specialist-talks-treatments-lingering-covid-symptoms/
http://www.globenewswire.com/news-release/2021/03/01/2184590/0/en/Sorrento-Therapeutics-and-Scilex-Holding-a-Majority-Owned-Subsidiary-Have-Entered-Into-an-Exclusive-Licensing-Term-Sheet-With-Aardvark-Therapeutics-to-Acquire-Its-ARD-301-For-the-T.html
With $1.15 billion just approved for Long COVID study/treatment, hopefully Sorrento can get a slice of funding for their existing study.
https://www.nature.com/articles/d41586-021-00586-y
http://www.globenewswire.com/news-release/2021/03/01/2184590/0/en/Sorrento-Therapeutics-and-Scilex-Holding-a-Majority-Owned-Subsidiary-Have-Entered-Into-an-Exclusive-Licensing-Term-Sheet-With-Aardvark-Therapeutics-to-Acquire-Its-ARD-301-For-the-T.html
Nasal spray competition already getting results in Phase I trial.
https://www.newsmax.com/health/headline/nasal-spray-covid-symptoms-atossa-therapeutics/2021/03/02/id/1012099/
Two great explanations on what is happening to Sorrento's stock. Read the Red Stock story and the Blackrock Stealing Gaslog story. This explains the high/low/pre-market figures for today and what to expect. For all the cheering when Blackrock became a major holder in Sorrento, you may want to think twice. Only the patient, long term investor in a company with a solid future can succeed. Hang onto your shares, do not sell.
https://www.griproom.com/fun/why-your-stock-is-always-red
Another test coming with the mandatory reporting. The only thing holding COVI-STIX back.
https://www.msn.com/en-us/money/news/becton-dickinson-is-developing-rapid-covid-test-for-use-at-home/ar-BB1dTVlq?ocid=msedgntp
A casual analysis of the recent Motley Fool hit piece is fascinating to say the least. The "DR." is not even a medical doctor but a PHD in Biology and a stated financial advisor. The MF disclosure policy only requires him to verify stock ownership on companies he is reporting on. In this case he does not have to disclose his ownership in Sorrento's competitors which you can see on his required listing page. One of those companies has an IH message board that was dormant for 5 years until Blackrock Inc. bought 10 million shares last week, a 16% ownership. So many cooks stirring this pot.
https://www.fool.com/investing/2021/02/12/sorrento-therapeutics-reports-promising-data-from/
Yesterday the FDA issued a new COVID EUA to Eli Lilly for a Monoclonal combination for non-hospitalized patients. This is an encouraging direction for Sorrento's COVI-AMG (STI2020) studies.
https://www.fda.gov/news-events/press-announcements/coronavirus-covid-19-update-fda-authorizes-monoclonal-antibodies-treatment-covid-19-0
Unfortunately, while we are waiting for an FDA approval, other companies are not so patient. Do a search for "Carestart Antigen Test".
FDA approved Feb 1, 2021 for "Point of Care" and "Healthcare Providers". The internet is flooded with sales offers of as little as $19 each in a box of 20. A radio parts store is even selling them. A friend called me and asked if I wanted any as he had a box of them.
With FDA approval and US taxpayer backing, the Australian test kit will be widely available. I am very bullish on Sorrento due to the vast potential of the products but it appears we have missed the train with COVI STIX
Experts say the new COVID test approved is a waste of money!!!
https://www.statnews.com/2021/02/05/a-waste-of-money-the-home-covid-19-test-funded-by-the-biden-administration-is-too-costly-and-complex-critics-say/
The dynamite Brazil study is NCT04528667, updated as "Recruiting" Feb 1, 2021. This is for STI-5656 or Abivertnib Maleate, oral capsules. The great news is this is a 7 day treatment and of the 400 participants, 3 to 1 patients will receive the 5656 vs. placebo.
Brazil study updated today. Recruiting 400 patients!
https://clinicaltrials.gov/ct2/show/NCT04528667?term=Sorrento+therapeutic&draw=2&rank=13
More pressure on FDA to approve COVID testing methods.
https://www.msn.com/en-us/news/us/trump-admin-enlists-private-firm-to-review-some-covid-19-tests/ar-BB1cPsX3?ocid=msedgdhp