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JNCE at ASCO 5-29/31
Yes, but if you look at NAVB pipeline you will see that they do not TREAT Rheumatoid Arthritis, they DETECT it.
"Analysis demonstrates these interim data further corroborate that Tc99m tilmanocept imaging can provide robust, quantitative imaging in healthy controls and in patients with active rheumatoid arthritis, and this imaging can provide an early indicator of treatment efficacy in patients with active RA, the company said."
I would hope that "frustrated shareholders that are underwater" would at least hold on to after ASCO news. We are up in price now, but if the ASCO news is good/great, this price rise may just be the beginning.
JUST FOR INFO: if you are thinking about selling into this rise before ASCO, maybe just put in stop lose orders instead of outright selling, you may just wind up gaining a lot more $$$.
Hope we get good/great news at ASCO.
I got to admit, I did not think this would go back above $5.
Hi Phantom, I'm going to ask you in advance. When ASCO data comes out, can you translate it into plain English for us (me) and give your "forward looking" opinion.
Thank You
Well, just to be honest, some of the call option activity over the last few days was me. Trying to "double down" to recoup on the losses in last years stock price decline.
I really don't know, just taking a shot in the dark.
Good Luck
Has MRKR price been rising due to the upcoming ASCO data … or just because the Nasdaq has been booming up and MRKR is included in some obscure Nasdaq index?
I hope it's door #1.
CONGRATS to all who loaded up above $5 and became passengers on the Hindenburg disaster of 2020.
What can yo do now?
Sell a bunch of 12-18-2020 call options at the $20 strike price at the
market price to see what you can get.
If you play around with limit prices, you may not be able to sell.
Free money in your pocket for a hedge.
P.S. To find the $20 strike price for 12-18-20, you have to click out
of "near the money" and click on "all" at the strike price tab button.
No reason? Read post #3261
Are you still long SRNE???
TOLD YOU SEVERAL TIMES SINCE FRIDAY MORNING
Last Friday, Sorrento Therapeutics appeared to celebrate discovering a cure for the coronavirus in a widely disseminated Fox News article. The company’s stock rose 243% that day on about 78x its daily average volume.
However, former company employees and experts at Mt. Sinai, the NIH, and the Rockefeller Foundation confirmed to us that the news is likely too good to be true.
“I would never in my life have put out a press release where I say we have a cure,” a former Sorrento senior executive told us. He also estimated there are “hundreds” of groups with antibodies similar to Sorrento’s.
“I suggest extreme skepticism regarding any claims made by Sorrento,” another former employee told us.
“I am not aware of any data suggesting Sorrento’s single Ab is as good as the many others that had already been previously generated (such as ours or Lilly’s)” Regeneron’s co-founder told us.
Sorrento was nearly out of cash and facing growing questions of solvency leading up to its surprise cure announcement. The company put paperwork in place to sell $500 million of stock just weeks in advance of ‘discovering’ the cure.
After the financing arrangements were put in place, the company announced a collaboration with Mount Sinai, then within just three days began pitching journalists on its miraculous findings.
Meanwhile, one Mount Sinai researcher we talked to called Sorrento’s announcement “very hyped”. Another warned us that “nothing in medicine is 100%,” referring to the company’s claim of a solution that works 100% in the Fox News piece.
One of the company’s financing agreements is with a year-old entity in the British Virgin Islands. The mystery backer was unnamed, but multiple industry sources tell us it is the same individual that was behind financing shipping company DryShips in 2017. DryShips lost 99.9% of its value in 2017 and reverse split eight times between 2016 and 2017.
We believe that Sorrento’s actions are manipulative at the worst possible time and simply amount to an attempt to shamelessly profiteer off the pandemic.
We see significant downside from these levels and believe the company is already in the process of severely diluting its new unsuspecting investor base. We believe regulators should closely scrutinize the company’s actions over the last several weeks.
Gee, from what everyone was saying Friday and pre-market Monday, I thought SRNE would be at $100 by now.
hanscott, You know, I hate to sound paranoid but it all has the smell of Big Pharma and the CAR-T players using their big influence TO INTENTIONALLY HOLD BACK MRKR.
"So in this case the FDA requested information on two ancillary products that are used in the culturing of the T-Cells but are not actually included in the final product."
Again, I hope I'm wrong but what will the FDA ask MRKR for next?, an analysis of the spark plugs on the truck that delivered the reagents?
Yes, I think you are correct. I don't expect the Baker Brothers anytime soon.
I've been trying to tell all since Friday morning:
And considering that SRNE had only $21.9M in cash and equivalents at the end of March while operations consumed ($38.6M) in Q1, it sure seems like an advantageous time for such a bold proclamation ("CURE"), to garner government grants or to artificially raise stock price for possible dilution.
It was good for those who already owned shares and also for those who bought EARLY Friday morning, but the chasers who bought pre-market today probably ain't happy now.
Momentum and trend is you friend only lasts for so long.
I was just going to post similar. Almost every other biotech I own is up 4% to 10% as of now …. and MRKR … with ASCO around the corner going nothing. If you believe in inside information getting out early to "them", that is not a good sign.
God, I hope I'm wrong.
No ownership in SRNE by Baker Brothers or Blackrock or NEA Management.
All biotech investors know who they are.
So, they either missed it and will stay out OR they will now jump in BIG TIME with real money and push it to $20.
Unfortunately, I don't know which one.
There is nothing wrong with making quick money on a hyped stock. But you should protect some of the profit after it goes crazy up. Don't keep chasing like all who bought pre-market this morning. Every pre-market buy is now a loss.
As I posted: I've followed SRNE for years, Henry Ji (CEO) can be a hype machine at times.
And considering that SRNE had only $21.9M in cash and equivalents at the end of March while operations consumed ($38.6M) in Q1, it sure seems like an advantageous time for such a bold proclamation, to garner government grants or to artificially raise stock price for possible dilution.
May 18, 2020 8:08 AM ET
Vital Knowledge Media joined Stat's Adam Feuerstein in voicing skepticism over Friday's announcement that Sorrento Therapeutics (NASDAQ:SRNE) had discovered an antibody, dubbed STI-1499, that, it says, can provide 100% inhibition of COVID-19.
The co. indicated then that their discovery could be "more effective" than a vaccine.
The statement Friday was "very disingenuous" on their part, and, generally, "some of the narratives around drugs and vaccines" need to be tempered, Adam Crisafulli of Vital Knowledge said, highlighting concerns about timing, coming to market and distribution and immunity through the population.
Yes, I wish there was more communication. With the protection of "forward looking statements", you would think Peter would at least try to give investors some additional hope and encouragement … but, it is what it is.
I will just hold on and wait for the good news.
Do you own SRNE stock? Got a BIG profit? PROTECT your gains and make
even MORE $$$$$.
Sell a bunch of 12-18-2020 call options at the $18 strike price at the
market price to see what you can get.
If you play around with limit prices, you may not be able to sell.
Free money in your pocket for a hedge.
P.S. To find the $18 strike price for 12-18-20, you have to click out
of "near the money" and click on "all" at the strike price tab button.
Sorrento blitzed reporters with embargoed pitches on COVID cure - Feuerstein
May 15, 2020 1:13 PM ET
About: Sorrento Therapeutics (SRNE)
STAT's Adam Feuerstein says he received his embargoed message from
Sorrento Therapeutics (SRNE +174.8%) on Tuesday but ignored the "dumb"
pitch.
Shares have rocketed after the company announced that it has
identified a single antibody therapy that can cure? COVID-19.
Many investors are now expecting a secondary stock offering
considering that it had only $21.9M in cash and equivalents at the end
of March while operations consumed ($38.6M) in Q1.
Thank You for your insightful, fact filled response.
Howdy, I'm not calling the game one way or the other. What they have done so far DEFINATELY DOES have merit.
Again, I am long, all I'm saying is it's kind of early to be betting the farm.
"reputation"? I've followed SRNE for years, Henry Ji (CEO) can be a hype machine at times.
And considering that SRNE had only $21.9M in cash and equivalents at the end of March while operations consumed ($38.6M) in Q1, it sure seems like an advantageous time for such a bold proclamation, to garner government grants or possible dilution.
There's a possible reason.
Are you aware that antibodies have killed patients in FDA trials?
Do you know what a cytokine storm is? as in cytokine release syndrome?
Do you know how many 100% "cures" in petri dishes went nowhere in FDA trails?
I am long SRNE, but after doing biotech for decades, I am just a bit realistic.
EXACTLY
"Antibodies from what I read are safe to be injected in human beings."
Google cytokine release syndrome:
Cytokine release syndrome (CRS) is an acute systemic inflammatory syndrome characterized by fever and multiple organ dysfunction that is associated with chimeric antigen receptor (CAR)-T cell therapy, therapeutic antibodies, and haploidentical allogeneic transplantation. Immune effector cell-associated neurotoxicity syndrome (ICANS) is a neuropsychiatric syndrome that can occur in some patients who are treated with immunotherapy and may or may not accompany CRS.
Notice "THERAPEUTIC ANTIBODIES"
Cytokine storm is just one of many antibody hurdles to overcome.
As I have stated in other posts, I am long SRNE and have followed it for years … so … you can now tell me to go to another board like you did BioInvestor4 who is also long … or you can be open to an honest discussion of ALL the relevant facts.
Hi mikar, I am not aware of others who have "claimed" to have an antibody that is 100% effective.
Again, to be clear, I am long SRNE but been doing this biotech for too long to just believe petri dish success will mean phase 3 success.
I also have questions like what amount of cytokines will SRNE's STI-1499 antibody result in the human body?
For anybody who is long, stay long, watch it, maybe put in a few stop looses or hedge with options, but at this early stage, I wouldn't bet the mortgage on it because most of this price action is just momentum players who never heard of Sorrento a few days ago.
I've followed SRNE for years, Henry Ji (CEO) can be a hype machine at times.
And considering that SRNE had only $21.9M in cash and equivalents at the end of March while operations consumed ($38.6M) in Q1, it sure seems like an advantageous time for such a bold proclamation, to garner government grants or possible dilution.
Good Luck to All
I am long, but the CEO did mention "cure":
"We want to emphasize there is a cure. There is a solution that works 100 percent," Dr. Henry Ji, founder and CEO of Sorrento Therapeutics, told Fox News.
Own SRNE stock? Sell a 12-18-2020 call option at the $18 strike price at the market price to see what you can get. Free money in your pocket for a hedge.
And they will probably take advantage of all that to dilute.
You are 100% correct. I was just saying that SRNE is not a 100% magic treatment. There are companies like PSTI, CNSP, WBIO and others I believe that are working on the lung damage aspect of Covid.
Thank You for your post.
Hate to say it, but between the media blast the prior week and the Benzinga options alert sent out on May 12, should have seen Friday's action coming.
May 12, 2020
1:06 pm ET
*Sorrento Therapeutics Option Alert: Jun 19 $2.5 Calls Sweep (24) near the Ask: 400 @ $0.651 vs 14256 OI; Earnings 5/26 Before Open [est] Ref=$2.955
Benzinga
Like you said, the price movement was based on what happened in a petri dish, and it may or may not work in humans. BUT even with that, the company Sorrento said later in the day Friday that even if it does work, it will help those that are NOT sick as far as not becoming sick from Covid, but it probably will NOT help with those who are already sick.
14:24 ET - Sorrento Therapeutics says its ST-1499 antibody has shown strong results in laboratories neutralizing the virus that causes Covid-19. But in patients who are already quite sick, that might not be enough to treat secondary effects of Covid-19, including problems with the lungs and other organs, the company says. "We know that our antibody can inactivate virus," Mark Brunswick, the company's vice president of regulatory affairs and quality, says. "We don't know whether inactivating virus in patients who are so sick is going to have an impact, because their lungs are very damaged. We don't know, if we take out all the virus ... if the lungs will recover." (matt.grossman@wsj.com; @mattgrossman)
For all stock traders. I have been reading posts here and at stock twits concerning SRNE with some saying "greatest thing since sliced bread and I doubled my money in one day" and other says "it's a pump and dump". So, to all who doubled (or more) their money in one day, are you aware that the June 19 call option for SRNE went up 19,000% IN ONE DAY on Friday? And at one point it was up 40,000%.
Anyone can go to Think or Swim, click "analyze" and then click "look back" to verify.
Thank You
Thank You, The "Apples and oranges" you stated is correct. It is also good that no one died from ALLO cytokine release syndrome that resolved within 72 hours (like others have in other trials). I just couldn't wrap my head around the comment that somehow 3 ALLO complete responses were somehow not a good sign.
Thank You Again.
Hi MDtoB22, Thanks for your post. I honestly don't understand all the technical stuff, so I'd like to ask you a question.
The part I see is that MRKR so far has had one "complete response" and that ALLO has had three "complete responses".
So my brain says something like ALLO must have something good going on if they had 3 "CR's, compared to MRKR's 1 "CR".
Now, I'm a big believer and owner of MRKR (and will continue to be so), but can you tell me where my thinking is wrong? or why you say ALLO "data can’t compete with MRKR’s results."
Or anyone else who would like to comment.
Thank You
Our old friend Allogene ALLO with a market cap of 4 billion:
Abstract Based on Data Cutoff in January 2020 Represents Limited Data Set of Nine Evaluable Patients Treated at Lower Dose (39mg) ALLO-647; Three Patients Achieved a Complete Response (CR).
Two patients (22.2%) developed cytokine release syndrome (one Gr1 and one Gr2) that resolved within 72 hours without steroids or tocilizumab.
In this limited dataset with a small number of patients, the overall response rate (ORR) was 78% (95% exact CI: 40%, 97%) with three complete responses (CR) and four partial responses (PR).
I know, I tried to figure that out, not the best speaker, I honestly have no idea. I just want some good news for a change.
Peter Hoang
You know absolutely. With respect to the pancreatic trial, the update for ASCO, the abstracts will become live on Wednesday at 5 PM Eastern Time. So we’ll look forward to providing more data you know, so you know after the object around in the course, when the presentation is actually given at the ASCO Conference.