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Hey Brandy,
What concerns me is we still continue to divert our/my valuable LIMITED funds to this COVID pipeline when we've gotten exactly .5 marketable products (some questionable revenue in Mexico) from this foolishly spent money.
EZ for me to say now in hindsight? Yes it is. At the beginning of this Chinese developed virus - I selfishly thought - awesome, COVID will line my pockets. It's clear now we missed the boat yet here we have a PR released today that we have a single patient getting an oral treatment in Phase 1? Shouldn't this happened 18 months ago?
Meanwhile:
With No Orders, Africa’s First COVID-19 Vaccine Plant May Close
By Michelle Edwards - June 2, 2022
The first facility to produce COVID-19 “vaccines” in Africa is on the brink of closure. Despite being assured by COVAX and others that there would be enough demand for the only COVID jab produced in Africa, the continent’s biggest drug company has received no orders. South Africa’s Aspen Pharmacare signed a licensing agreement late last year to bottle and sell the Johnson & Johnson COVID-19 “vaccine,” but six months later, an overall drop-off in demand for the shot has put the plans in doubt.
Africa was initially left out of the rush for vaccines early in the pandemic, and the licensing deal was hailed by many, including the World Health Organization (WHO), as a lifeline for the continent. However, as reported by FT, the resistance to getting the “vaccine” reflects faltering demand in South Africa and is part of a broader trend across the continent.
*** SIGH ***
Hi 1776,
I like the car analogy. Easy to grasp and perfect correlation. Yes, the frame and engine are solid in the 55 Chevy, but needs some body work so worth the investment in new panels and paint.
Too late for me to throw in the towel - in too long and now way underwater. Bought more in April - bad timing by a week as it feel from the $1.5X to the $1.3X - DOH!
SO - DIA and 1776, Do you think the institutional buyers have SRNE in their portfolios on purpose, seeking out a company with large pipeline OR are algorithms de=ployed that stumble across small biotechs that have been absolutely slaughtered as SRNE has been and blindly add them to portfolios? I read both sides of this issue as you see in posts here.
Cheers! Heading to ballgame tonite with wife! I'll be looking forward to a cold pint of Miller Lite! Go team.
Hi 1776,
2030 for rolling blackouts? --- didn't you mean this summer?
https://www.forbes.com/sites/steveforbes/2022/05/19/blackout-warning-energy-policy-failures-may-lead-to-summer-blackouts/?sh=528e12416929
This isn't going to be good. If the lights go out in any of our large cities, the smash-n-grabs will skyrocket from their already lofty levels. Crime and human violence = skyrocket!
I wonder why the spike in institutional ownership over last couple months?
Institutional Shares (Long) 162,951,071 - 42.73%
From mid-30's% to over 42%?
I wonder what our new hires are doing, Tammy and Elizabeth?
I hope they made it to all their new hire classes with the now nearly 800 employees.
Hopefully they are prepping us to be put on market!
If and when the offers come in - may I suggest we set up a special sliding payout?
Those here 5+ years get $25/share
Those here 3-4 years only get $18/share
1-2, $12
11 months or less - thank you for playing. It was super fun! Please pick up a departing gift at the door as you leave.
I wonder if this is why we didn't receive a EUA?
FDA Official In Charge Of Evaluating New Drugs Hospitalized For ‘Mental Disorder’
Dr. Jeffrey Siegel, director of the Food and Drug Administration’s Office of Drug Evaluation Sciences, was transported from his home to a hospital for “mental disorder” at 3 a.m. on May 9, according to Montgomery County,
One neighbor who received the missive via Nextdoor expressed concern about Siegel’s ability to do his job, given that Siegel also wrote that he makes ‘major decisions that impact on public health.'”
“I am frankly left a little bit worried for the soundness of operations at our FDA, if indeed that is true,” the neighbor wrote.
@@@@
Could it be this FDA government official caused us not to get an EUA or FDA approval since his "mind" did not know us a name brand, never heard of us, only knew the top 5; Moderna, Pfizer, Jand J, Roche, etc., giving them the nod over unknown entities.....
OR OR was it simply SRNE was inept, the Brunswick doesn't know how to negotiate , we file incomplete requests, didn't file requests, our products are crap, SRNE is second tier company and never made the cut, or??
Just wondering out loud as I sit watching the Cards vs. Brewers.
Another pathetic week for our stock. Hmmmmmmm, I wonder if I will get my debt paid off by Biden Admin, allowing me to divert money earmarked for repayment of debt to SRNE, and lower my average cost on SRNE? How would I sign up for this?
Hey 1776~~
No - I can't believe it - you mean to tell me the SRNE was unable to secure approval for one of their products? I think our S/P has factored in zero success with any product releases - what else explains $1.5 some frickin' cents!? Sad and maddening - we just can't capitalize monetarily on anything.
Well, at least we will have a new building...AND, no, I don't believe Stix selling like hotcakes. No chance of it. We missed that party too. When was last time you heard of someone taking a test? I was at Walgreens Friday and there were 20 kits sitting on pharmacy counter. Mexico is a 1/3 the population of USA and 10-12% live here in the US? Mexico as a market is getting smaller every day. Whatever happened to Brazil? I recall people on this board saying how smart SRNE is heading to South American markets due to total population - but again, another swing and miss!
Alas, my only hope now is our new hire announced 5/18 -- note one of her qualifications: Ms. Reilly is the managing partner of a life sciences advisory company, TRDx LLC, an independent firm that she founded 15 years ago to advise life science companies on life cycle management and business development solutions, which includes advice on mergers and acquisitions and strategic and capital markets transactions.
Keyword for me: ACQUISITIONS
Sell this pooch to someone that can direct, manage, inform and capitalize on OUR money that SRNE and current board has SQUANDERED. I hope Mzzzzz. Reilly is here to get our affairs in order and start schlepping us out on the market.
VERY well said 1776. Spot on. It is happening already. Here in in Milwaukee area - 9,400 cars stolen last year while highest homicide rate and new record in drug overdoses too!
I, sadly, bought 3,400 fish more shares 1.5 weeks ago. Alas, I've given up 20 cents/share already. Doh.
Sorrento chairman CEO Dr Henry Ji said: “By acquiring a majority stake in FortuneBio, Sorrento is in a better position to rapidly respond to the ever-changing demand of rapid Covid testing and broaden our diagnostic product offering to other areas such as early cancer diagnostics."
1776, what do you think happened to the manufacturing equip. you saw BOL few weeks back? Think they are setting up production cells in new building, being shipped to GA, or?
So Brandy,
Do you still have shares? I've never sold. What a huge mistake on my part. Bought a few more shares last week as I did figure buck fifty was floor. WOW - another mistake on my part.
My holdings in total are approaching 70% loss. Trying to lower average cost and hope the company that supposedly offered us $7 comes back and takes another swing on at it. Who knows.
It is obvious that current team leading company is too inept to make something happen - even with new bean counter working for one of our subsidiaries.
Do I just complain and not do anything - ? No...
I did contact a company in Chicago that helps pharm companies work through FDA process and explained SRNE to them. I also sent their co. info to our Biz. Dev. director to try and make something happen! All printed out our pipeline and sent personal letters to 6 of the top 10 pharm companies in US market. Heard nothing from any of these efforts.
Hello Fellow Chumps!
If a lawsuit hits us 1776 - $1.5X will no longer be the floor - we will loose $.25 with announcement then the fear of b/k will send us under a buck real quick.
So, who lives close to HQ and can go over then a sink a for sale sign in the front yard? My only hope is someone will come in and see something of value in 1-2 items in the pipeline.
And to think JI warned the shorts not to, "...ruin their families." They won, we lost. Sofa city sweetheart. 110% chump.
Hey 1776,
You found that Facebook link of the guy from Fortune B. saying to contact him for a "good deal" on Stix.
Can you ping him for inside info on shipments?
Hi Bill,
Yes - I started buying about that point but back in 2016. Not just bad - horrendous!
BTW - welcome to the board. Most here have been sitting patiently awaiting and staying positive. Dia and 1776 do some really good digging and try to turn those frowns upside down.
However, many others have turned to the other side and have turned a bit critical and have right to be.
I only have hope right now but we know that is not a strategy. I did not sell a single share but averaged down as I thought we'd have 2-3 products approved by now. I had no idea our internal board, those dealing with FDA, CEO that fails to communicate with us, an IR dept. I've never heard from after many attempts...etc.
I hope a company steps to plate and offers us $22/share - end this anguish! Go team.
Love the optimism 1776!
I've lost mine. COVID ship sailed. We missed it. Huge opportunity cost and this has to be one of the reasons we are heading to a buck! The FDA approved over 400 test kits as of last fall, 2021 and we weren't one. UTTER failure. Incredible. What are the odds? Who was in charge of negotiating w/ the FDA, presenting our wares? This person should be fired.
Ji warned of ruining families for those shorting!? His own hires ruined lives for those who believed, trusted ad stuck with his company. We were the ones damaged.
Alas, I've shifted my hope from a rise in s/p due to success with any of our products to finding myself day dreaming that maybe, just maybe we could be sold.
>100mm?
Oh 1776, I am seeing zero chance of even a 1/3 of that. If we were receiving PO's that added up to 10mm - we would have had three PR announcing this fact by now and we are, "...running at 50% capacity at our new Fortune plant in the motherland China..."
Our only chance = buyout / sell to place that offered us $7.50/share.
We are heading straight down like my optimism.
Agreed - lower by June but that follows a lower by May as we top of April at a buck-fifty a share. So sad. A waste of 6 years.
Well Dia, you are correct.
I am in soooo far and soooo long that yes, I will be buying more. Sent two checks to TD just this evening; one for my SEP IRA 2021 contribution and the other for my personal account.
All money will be spent on buying at this level to lower avg. cost now solidly underwater.
Any have any inkling of next event that could move us up to $5 or? Something to put some hope in to? We had a poster over weekend think something would have happened this past Monday but not sure what was being referred to.
Buyout, sellout, white knight - I always thought $7 would be floor going forward - WOW was I wrong as we sit at $2.
Offer was rejected as I believe at the time Dr. Ji or our inept board felt we were worth more than $7/share. Wasn't this 2.5 yrs ago?
Think of the opportunity cost since then if someone like myself was a chump and didn't sell in the teens. My fault and I accept that.
Everything is "right around the corner"...that is our hope and now people are talking BO!? I do hope so.
Hey - on positive note - we finally got our "free" Biden COVI-Scam test kits. Funny - they came from the same place where the virus was made - China! Too bad the kits didn't say Sorrento on them. Oh well. Covi-Ship sailed 7 months ago as we stand on the dock waving, "...hey, wait for us!" We are like the drunks who stayed in town to long and the cruise ship pulls away without them as they run down the dock. You have to admit - that's a funny analogy AND spot on. Yes - I am here all week except Good Friday - try the beef!
sell Sell SELL this company.
Yup, here in WI, the 7 day avg. of cases is 380/day.
Ship sailed and Ji missed it.
Too many things going on and not able to capitalize on a single thing.
PR comes out and we loose money.
I agree w/ 1776 - the video is SRNE's. An attempt to build a brand. Doesn't need a subject or other for this type of purpose.
I really do hope someone comes in to buy this pooch.
Current management can't get 'er done. I've lost most hope now.
6 Years down the drain.
To think we could have sold in the teens a yr ago. Doh. Double DOH!
Where is that buyer at $7/share!?
Interesting Mr. Fitzy,
Good observation on your part. Nothing on on SRNEs website and for that matter - no links to any social medias, including YouTube. I also looked at our subsidiaries and none of them have links to social medias either.
I checked Vaxart and they do not have social media links same as SRNE but Novavax does.
https://www.youtube.com/c/Novavax/about
https://www.gsk.com/en-gb/
They have ALL the social medias covered.
It does appear that this YT page belongs to SRNE - I don't think it is a pumper posting.
I will give you this - it is a 1/2 baked YouTube page. Poor presentation and no company info. Novavax page is not much better. No links to other medias, sparse. GSK is done very well.
But Fitzy - you are saying that someone, to pump this stock, would put together a video such as this - hire talent, go on location, create script, edit and produce this to pump this stock and mislead people?
That's hilarious! Who would waste the time, effort and cost to do that?
Not sure if a 1/2 baked YT page is a good approach when trying to build awareness of our company or not. It's a start I guess.
I don't like the incongruent thought patterns and directions from Fauci, CDC, Biden - as they rule us from above...
Case in point:
Two weeks ago - Biden / Kamala / Pelosi stood next to each other, maskless, no social distancing in SOTU address. This past Sunday - my buttercup and I were returning from Punta Cana. First trip in 2 + yrs.
We each spent nearly 3 hrs running around resort, waiting in lines, to satisfy CDC and airline requirement of a negative COVID test within 24 hrs of departure to USA. So - in order to get on plane, we all had to test negative - this begs the question: WHY would we need to mask on the plane if we are all negative??
Then - no lie - upon arriving in US from 5 hr fully loaded flight - a US Customs official greets us on plane and announces on load speaker, "...you must remain masked AND social distance through customs ." Yes - social distance after we sat crammed in a sardine can for 5 hrs.
Then I wondered - the 2mm+ people that swarmed over our boarder in 2021 from 100+ countries - did they need to produce a negative COVID test prior to their entrance to good 'ol USA?
Yup - pretty salty here.
Not only do they have 799 employees --- but their site show 98 open positions in addition. Probably really 99 as I did not see CFO position posted. Perhaps they filled it with an intern from local college?
All these employees - and nothing getting done. Perhaps I know the problem - is SRNE a branch of the government?
Did we ever hear or find out who made the $7/share offer?
I do say - slap an ad on Craigslist in businesses for sale, throw a for sale sign up in the front yard - at this point, $21-25/share (1 yr target price) and it's all yours! End this misery. Please?
Before we go belly up, we will be sold I'd hope. Ji letting this die on vine? Me thinks not. Then again, hope is not a strategy.
I am worried now - YES. ZERO products approved in the 5+ yrs I've been here. Did you see they now have 799 employees according to Dunn and B.? Holy CRAP. No wonder they aren't making $.
Company Description: Sorrento Therapeutics, Inc. is located in San Diego, CA, United States and is part of the Pharmaceutical and Medicine Manufacturing Industry. Sorrento Therapeutics, Inc. has 799 total employees across all of its locations and generates $52.90 million in sales (USD). There are 30 companies in the Sorrento Therapeutics, Inc. corporate family.
Hi Syncora Peeps,
Just double check - divi was $0.1600/share
Last Declared Pay Date
Mar 15, 2022
Just wanted to confirm....have not checked account yet.
Cheers!
Fair observation and comment - was just passing on.
Another article where FECOF mentioned:
https://insiderfinancial.com/4-hot-otc-stocks-axas-fecof-kgkg-tonr/183017/
Written by: Jim Bloom
Posted on March 08 2022
Hawk, Great info - thx for the effort/DD. Welcome to board.
I am happy to see recent activity - been here for a few years. Alway appreciate technical assessments from others such a Irish and now Lottalead and your info. Thx.
Did I read correctly that the CNOOC has been c-blocked by Phil. DOE? If that is the case - I hope that means more for us. Get that new vessel shoving off soon... All aboard.
Well, off to celebrate our nice couple of days w/ a crisp,refreshing Keystone Light.
So 1776,
Does "brutal" in your mind = $1.50/share?
I am guessing so. Coming soon I suspect.
So Fitzy, your analysis of the loan and its purpose makes good business sense. Riley could go about the county in search of such companies - loan them $ then they get to go to line in front of us when we go belly up - secured vs. unsecured. Interesting ploy / business model.
I do wonder, however, a company on the brink of insolvency - why it would have 101 positions/job openings on their site? A decoy in an attempt to show everything is OK?
I am trying to add things up here.
We've lost 84% of our value from 52 week high, loosing TM's, missed the whole COVID thing after dumping tons of cash, company still doesn't explain things to us (DARPA, Mayo, Brazil), barely staying afloat, bridge loan for what, apparently we are selling something in Mexico,have a bunch of trials underway, hope is right around the corner, wait until Q2, nope - wait for Q3, it'll all come together in 2024, look at all the institutions buying our stock, positive PR and our s/p goes down - what's going to happen if one FAILS in the field.
Solution: Sell us to a company that can manage this operation properly.
$20/share and it's all yours!
Well, I wonder who is to blame for not being able to solidify a deal? Mr. Brunswick? Is he not liked by FDA?
RE: Earnings - a couple sources I saw noted they will be released today, Friday, 3/4 (Schwaab for one). Looks like it will be done similar to how some of our government entities handle less than good news. Called a "document dump" - they purposely wait until last minute on Friday - right before weekend starts. Those dumping hope the sheeple won't notice as they prepare for weekend of indulging in the new party favorite - fentanyl - now streaming over our open southern boarder in record amounts or cheap beer like I like to drink, hoping we forget by Monday.
I am afraid our document dump will not be forgotten and #'s will cause stampede Monday AM - if released today. Just a hunch.
Speaking of Schwab -
Charles Schwab Investment Management Inc reports 5.43% increase in ownership of SRNE / Sorrento Therapeutics Inc
2022-02-11 - Charles Schwab Investment Management Inc has filed a 13F-HR form disclosing ownership of 2,143,094 shares of Sorrento Therapeutics Inc (US:SRNE) with total holdings valued at $9,966,000 USD as of 2021-12-31. Charles Schwab Investment Management Inc had filed a previous 13F-HR on 2021-11-16 disclosing 2,032,750 shares of Sorrento Therapeutics Inc at a value of $15,510,000 USD. This represents a change in shares of 5.43 percent and a change in value of -35.74 percent during the quarter.
Other investors with positions similar to Charles Schwab Investment Management Inc include Northern Trust Corp , Goldman Sachs Group Inc , Geode Capital Management, Llc , Jane Street Group, Llc , Cormorant Asset Management, LP , and BlackRock Fund Advisors .
I love Mr. Biden - touting the "Buy American" thang up on stage - meanwhile...
"Here Is the Covid Test-Kit Maker You’ve Never Heard of..."
In his State of the Union address on Tuesday, President Biden announced that Americans could soon order a second round of Covid-19 tests from the federal government’s free test program (don't worry that 1/2 of the 500mm still not claimed...)
Most of those tests are the orange-and-white kits made available through a $1.8 billion agreement between the federal government and iHealth Labs, the California-based subsidiary of a Chinese manufacturer, Andon Health (ticker: 002432.China).
It’s a deal worth more than five times Andon’s 2020 revenue—an extraordinary ramp-up that is making the company a giant in the nascent at-home Covid-19 antigen test industry previously dominated by Abbott Laboratories (ABT). Andon specializes in consumer devices like electronic blood-pressure monitors and forehead thermometers. The company recorded sales of just two billion yuan in 2020, or $315 million today.
Abbott, Roche Holding (RHHBY), and other Covid-19 test makers are also selling tests to be used in the Biden administration program, which is aiming to send 500 million tests to Americans. But their contracts are far smaller: Abbott and Roche will provide a combined 130 million tests.
EOQ
Well, ours would have been made in China too I assume but once again - we missed the boat. COVID boat pulled out to sea 10 months ago and we came running down to the dock last week, "...wait for me, wait for me! Look what I have!"
Guess who invested heavily in SRNE also!?
Moi!
Pathetic! I've lost 5+ years of use of this $$, the opportunity cost is staggering.
I would never have imagined they could not connect with at least 1 EUA with FDA as they spent billions on anything that moved - except for SRNE.
Keeps falling daily. Not good.
Any advice Mr. Banjo?? I think I am screwed. Hugely!
Hey Fitzy,
Who loaned 45mm$ to SRNE couple weeks ago? I could not find info on entity that did so...
I could understand if it was money doled out by Biden team - no strings, think Solyndra - but I would assume a normal bank would have some DD before willy-nilly loaning out 45mm$. Would they do so if we were on brink of belly-up?
Then again, board could have said, "...give us this loan as it would give some time to get our resumes together. In return, you can have our pipeline, file cabinet full of TM, our roledex with emails to DARPA, Mayo, Univ. of TX and # to CCP. We think the pipeline is worth a few million itself! We have lots of P1 studies going....AND, our new HQ is designed to have not only a bumper pool table in lobby but a free coffee station too. This will allow you to lure in 20 somethings for all of our open jobs we have eight now."
This doesn't bode well for Covi-Stix being approved / sold here in US:
Nearly half of Biden’s 500M free COVID-19 tests still unclaimed
https://www.bostonherald.com/2022/02/27/nearly-half-of-bidens-500m-free-covid-19-tests-still-unclaimed/
Test kit market saturation and now mask mandates - even in very blue areas - dropping as quickly as our stock price! Hospital stays declining, most people wanting to get back to normal NOW - looks like we've missed the boat for our COVID products. What's next? Perhaps we can brew beer or something in our new digs!?
Numbers in Mexico will be more important now than ever.
I hope their demand is not falling off cliff as ours is here in US.
Hello Macchio,
I concur and I recall you saying this in the past. In my faxed letters to Mr. Bill Farley - our Biz Dev. VP at SRNE, I asked why we haven't had success in ANY approvals.
I've suggested they bench current person (Mark) or team for just that reason - no success! - and replace with others or different approach. Too late I am afraid but when you do not have success with anything - perhaps we change approach?
This is the company I sent SRNE contact info to along with suggestion to Bill and board to reach out to also: https://www.automatedsys.com/compliance-services/
Hi Gary,
I sense our only hope is a buyout now. 2-3 more years "waiting" = too costly considering opportunity cost. At that point - I'll be 7-9 yrs in this stock.
So, doing the math - a 95% increase, given our current s/p would take us to: $5.91. Doh!
I wonder what happened to that company that offered us $7/share 1.5 yrs ago? Laughing at us I guess.
I've faxed and emailed our board sincere (and at times snarky) questions and suggestions, asking them why they haven't informed us, shareholders, what 45mm loan was for, status on DARPA, Mayo, Brazil, are we manufacturing anything here in US, do we own new conveyer belts and production cells, are we selling anything in Canada, etc...I get more info from this board than we do from them!
One concern I have is why no success with FDA while other, smaller companies do? So, I sought out a company that does that for the Pharma industry - offer FDA compliance services and sent this company contact info on SRNE and sent their contact info to our Bill Farley and other board members.
Can't hurt! In short - I've lost my optimism in SRNE. Darkest before dawn? Will I be told to go away since I am not a cheer leader? Who cares. This company has just destroyed its value and my hope over last year. I am pissed now.
Hello Dia,
40 million tests/month for 2022? Here is my concern, while we can debate what COVID will be doing going forward, what I am seeing is many of the entities that were requiring proof of negative testing, vax passport, etc. are now starting to drop the "proof of negative test".
Case in point - in the semi-COVID restrictive (they still have mask mandates) Milwaukee area - they hold a large large music festival on Lake MI each year. 1MM people go through gates of this event. Last yr, they required proof of vax or proof of neg. test. They just dropped these requirements~
NEWS CORONAVIRUS
Summerfest: No plans for COVID vaccine proof, negative test this year
They are also doing away with the mask requirement...
Posted at 11:58 AM, Feb 16, 2022 and last updated 12:00 PM, Feb 16, 2022
My point - demand for testing is going to wane due to changing policies. The testing kits with more established pipeline, that have been on market much longer (Abbott kits IE), will continue to command shrinking marketshare. Who would switch to an unknown kit such as one made by unknown company? We will then have to capture market by selling on price (not good either to move stale inventory) - not our "superior" sensitivity.
I say we go knock on the door fo the company that offered us $7 a share and say, "...$14.99 and ya got a deal!"
Yup - a one person pony show.
When I reviewed Archer's website - it looked poorly done, the social media links all way at bottom / right, do not work. Not good. Unprofessional. This is most important marketing tool they have.
You would think an astute company would have given Archer branding guidelines, specific ways to present our product, etc. I guess not.
To be blunt - SRNE hiring them to be a sales outlet demeans our product IMO. It looks to be a Kia when we need a Caddy.
Then again, it could be a cheap franchise deal that SRNE will begin to offer other such companies.
Mr. Dia. I hope they are legit!
https://www.aschermedical.com/about-3
From their site:
Sensitivity 98.04% Specificity 100%
?
COVI-STIX Limit of Detection is the lowest among comparable antigen tests making it one of the most sensitive tests on the market. The Lower the Limit of Detection the Better.
Capable of detecting Omicron at 12 Plaque Forming Units - a very low amount of the virus.
No Lab. Confirmation in 15 minutes.
Packaging in 1 & 25 test kits.
Produced in USA, China & Mexico.
US owned publicly traded company.
WOW - Where have you been?
Sorry Snycora board but wanted to ask WOW about SRNE and VCEL.
Wow, I know you dumped your VCEL - very VERY smart of you as I did not.
Think it will eventually recover?
More importantly - SRNE
Are you still in this stock? Holding all your shares or did you sell off as it slide to $3 buck chuck where it sits today.
I am very worried that this company does NOT have ability to get anything across finish line.
Do you still own it? What is your short and near term assessment of its potential if any?
So - back under $3. Doh as Homer
Just 2 shorts years ago:
Sorrento Therapeutics has rejected a $7 per share buyout offer. (Sorrento Therapeutics)
San Diego company says offer undervalues the company; updates progress on novel pain management therapies
BY MIKE FREEMAN
JAN. 27, 2020 4:44 PM PT
Sorrento Therapeutics has rejected a $7 per share buyout offer, saying it significantly undervalues the company and is not in the best interest of shareholders.
I always felt the new floor would be $7 after the "offer".
I wonder what this company is doing now? Sitting, watching, patiently waiting for $1/share...or, are they saying, "...wow, we got lucky on that one! Glad we didn't buy them!"
I really do wish we'd get an offer before too late. A friend works for a company where the owner sold out about a 18 months ago to a non-local investment company. Friend was very nervous not knowing what to expect. He got lucky. Things are going great - dealing w/ shortages as everyone is but the ne owners came in an turned things around; better inventory system, better accounting, new contacts in industry, new sales opportunities! Could this happen to SRNE if new team comes in? Too late to make a difference? No one appears too excited for earnings - will we be low $2's next week at this time? Hmmm.
Anywho -- So, this same friend is looking for new 3/4 ton diesel Chevy to buy while I need to patch an exhaust leak on my 2009, Saab 9-7x - leaking behind left bank cat. converter on the 5.3 v8. I was smart one - instead of buying a new vehicle, I invested in SRNE!
Well board - sorry for mixing an off key remark in a recent post and getting some feathers ruffled. Sorry PureWater if I got under your skin so easily. No, I am not uneducated and no, I don't watch much TV - I mostly read old fashioned newspapers and listen to radio.
Just an observation but
aren't we are all here for a little education on our beloved SRNE, to get that inside skinny on insight from well researched people like 1776, Dia, et al, some commiserating (lots as of late), but also for some entertainment as many expose a little of their own type of flair and snarky comments such as Brandy's on this post - loved it Brandy! Let's not take things too seriously.
So - Pure, what's exactly inside one of these kits and where do you get your news from? If I am uneducated, I wonder why we own the same frustrating stock?
Well, enough chatter - I am off to finish my wonderful Coors Banquet beer!
Cheers all!