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Was move to November...
SAN DIEGO, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento"), a clinical and commercial stage biopharmaceutical company developing new therapies to treat cancer, pain (non-opioid treatments), autoimmune disease and COVID-19, today announced promising preclinical results for its mRNA vaccine against SARS-CoV-2. STI-mRNA is comprised of proprietary designer Spike-encoding mRNAs to elicit cellular and humoral immunity against the early WA-1 virus as well as the predominant and emerging variants of concern (VOCs), including Alpha, Beta, Gamma, Delta, and Lambda.
Currently marketed vaccines have demonstrated reduced efficacy against the major SARS-CoV-2 emerging VOCs2, with declining efficacy over time3. Novel approaches are needed that improve durability for both humoral and cellular immunity against current and emerging variants.
The MuVaxx lymphatic drug delivery device is designed to deliver vaccine into the epidermis to potentially enable access and increased exposure to dendritic (antigen-presenting) cells in the skin and in lymph nodes at lower doses than with intramuscular administration. Initial preclinical results are summarized below, and complete results are accessible at: https://www.biorxiv.org/content/10.1101/2021.08.25.457699v1
Intramuscular (IM) STI-mRNA (10µg) compared to the IM LNP-mRNA (10µg) showed a dramatic 400% improvement in cellular immunity as measured by cytokine production of spike specific CD8 T cells.This elevated level of cellular immune response was also observed at 1/10th of the STI-mRNA dose using the MuVaxx lymphatic drug delivery device.STI-mRNA (1/10th dose delivered with MuVaxx) also demonstrated similar humoral immunity (anti-RBD IgG and anti-S1 IgG antibodies) as compared to the IM LNP-mRNA reference (10µg) and IM STI-mRNA (10µg).
These preclinical findings are significant as cellular immunity is critical for impeding virus replication and conferring long-term protection. Additionally, current approved LNP-mRNA vaccines have been shown to potentially have dose-dependent side effects4. The STI-mRNA and MuVaxx combination appear to elicit a similar humoral response and an elevated cellular response against the SARS-CoV-2 virus, at a fraction of the current vaccine doses. These initial preclinical results provide the basis for Sorrento to move forward aggressively with IND-enabling studies with our MultiValent STI-mRNA vaccine candidate.
References
1. LNP mRNA Reference Standard – This reference standard used is a similar construct as to LNP mRNAs used in current EUA authorized vaccines.
2. J. L. Bernal, N. Andrews, et.al., “Effectiveness of COVID-19 Vaccines against the B.1.617.2 (Delta) Variant”; The New England Journal of Medicine; 2021; 385:585-594.
3. S. J. Thomas, E. D. Moreira, et.al., “Six Month Safety and Efficacy of BNT1626b2 mRNA COVID-19 Vaccine; medRxiv Preprint; 101/2021.07.28.21261159
4. Jackson, et. al., “An mRNA Vaccine against SARS-CoV-2”, The New England Journal of Medicine, 2020;383:1920-31
SETTLEMENT DATE SHORT INTEREST AVG. DAILY SHARE VOLUME DAYS TO COVER
08/13/2021 46,641,269 4,836,505 9.64359
07/30/2021 48,422,291 4,514,823 10.72518
07/15/2021 48,325,970 9,745,811 4.95864
06/30/2021 50,364,647 7,500,281 6.715035
Ahem ...someone is buying ...
SAN DIEGO, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced that it has entered into an option agreement (“Option”) with The Texas A&M University System (“TAMUS”) for exclusive rights to the intellectual property covering highly potent main protease (M Pro ) inhibitors against SARS-CoV-2. This latest agreement bolsters Sorrento’s wide-ranging portfolio of preclinical and clinical therapeutic candidates targeting COVID-19, including new and emerging variants of concern of the SARS-CoV-2 virus. Under the terms of the agreement, Sorrento has an exclusive option to exclusively license patents covering the M Pro inhibitor drug candidates.
Discovered and developed by Dr. Wenshe Ray Liu and his research team at Texas A&M University, the M Pro inhibitors have demonstrated strong cellular antiviral potency against SARS-CoV-2 in preclinical studies. Several M P ro inhibitors were identified that exhibited antiviral effects against diverse SARS-CoV-2 variants, including Indian (Delta), UK (Alpha), Brazilian (Beta) and South Africa (Gamma) variants of concern. The potential advantage of using small molecules, in oral and/or intravenous administration, that target M P ro is that they are not affected by mutations in the SARS-CoV-2 spike protein, which may enable M P ro drugs to be effective against SARS-CoV-2 and its variants of concern (VOCs), as well as against other coronaviruses that currently exist or might emerge in the future.
“M P ro is a SARS-CoV-2 enzyme that catalyzes the formation of a number of essential proteins for the viral reproduction. M P ro inhibitors block this catalytic process to inhibit the viral replication in human cell hosts achieving the eradication of the virus,” according to Dr. Liu.
“We are excited to be collaborating with Dr. Liu and his team at Texas A&M and look forward to advancing the development of these novel drug candidates to address COVID-19, and a multitude of other respiratory viruses,” stated Dr. Henry Ji, Chairman and CEO of Sorrento. “This agreement further strengthens our dynamic COVID-19 product portfolio and is well aligned with our overall strategic plan to combat COVID-19 through a combination of potent small molecules and antibodies, cellular therapies and vaccines.”
Sorrento may exercise its right to enter into a worldwide exclusive license agreement at any time during the option period.
SAN DIEGO, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today released a patient case report on the lymphatic delivery of Enbrel using the Sofusa Lymphatic Delivery System (SOFUSA), which has been submitted for preprint as CASE REPORT: Lymphatic delivery of Enbrel® using The Sofusa® Lymphatic Delivery System (SOFUSA) achieves improvement in rheumatoid arthritis disease activity measures in a patient non-responsive to Enbrel subcutaneous injections (https://www.medrxiv.org/).
The development of tumor necrosis factor (TNF) inhibitors has greatly improved the treatment of RA, but many patients either do not respond or relapse after therapy. TNF is produced by a variety of immune cells that reside within lymph nodes and the lymphatic system. A Phase 1b open label study is examining the changes in RA disease progression by administering Enbrel, a TNF inhibitor, to the lymphatic system and draining lymph nodes using the SOFUSA device. The first patient to participate in this ongoing study was a 43-year-old female who had an inadequate response to Enbrel after 11 months of once weekly 50mg Enbrel SC injections.
After 12 weeks of receiving SOFUSA with Enbrel at 25 mg weekly, disease activity as measured by DAS28-ESR decreased 34.1% from 4.58 at Baseline to 3.02 at Week 12 demonstrating a change from moderate to low disease activity. Similarly, DAS28-CRP decreased 37.5% from 4.99 at Baseline to 3.12 at Week 12 demonstrating a change from high disease activity to moderate disease activity. The lowest DAS28-ESR achieved was 2.10 at Week 10 after 10 weekly doses which corresponds to a disease activity level of remission. A study extension has been IRB approved to evaluate the potential for further dose reductions in patients who respond well to 25 mg weekly dosing.
Joint counts were performed every 2 weeks and a consistent decrease in the number of tender and swollen joints was recorded for the entire 12-week dosing period. The number of tender joints decreased from Week 0 to Week 12 by 70.6% (full 68-Joint Count) and 90.9% (28-Joint Count). Similarly, the number of swollen joints decreased from Week 0 to Week 12 by 44.4% (full 66-Joint Count) and 28.6% (28-Joint Count).
“Our hypothesis for this study was that delivering Enbrel directly into the lymphatics would improve clinical response. While this is only the first patient, the improvement is quite remarkable and suggests that delivering therapy directly into the lymphatics may be one of the factors associated with improved response to biologic therapies delivered systemically. It was also quite interesting to see the correlation between lymphatic flow and clinical response. We are looking forward to enrolling more patients in this study” – Roel Querubin, MD, Principal Investigator, Atlanta Research Center for Rheumatology.
I'm worried about the vacuum in your brain ...
SCILEX HOLDING COMPANY, A SORRENTO THERAPEUTICS, INC. SUBSIDIARY ANNOUNCES EXPANSION OF ZTLIDO® MANAGED CARE COVERAGE FOR ADDITIONAL 33 MILLION LIVES
PALO ALTO, Calif., Aug. 19, 2021 (GLOBE NEWSWIRE) -- Scilex Holding Company (SCILEX), a subsidiary of Sorrento Therapeutics, Inc. (NASDAQ: SRNE), announced that, effective September 1, 2021, ZTlido® (lidocaine topical system) 1.8% has been added to multiple formularies, including two national PBMs (Pharmacy Benefit Managers), a national health plan and two regional health plans – thereby expanding coverage by up to 33 million lives. ZTlido (zee-tee-lie-doh) is indicated for relief of pain associated with post-herpetic neuralgia (PHN), also referred to as post-shingles pain.
“With this expansion, up to 65% of lives nationally have covered or better access to ZTlido, with a reduction in need for prior authorization,” said Jaisim Shah, President and Chief Executive Officer of Scilex Holding Company. “ZTlido provides fast and significant PHN pain relief that can be sustained over time – without the trade-offs associated with other widely used options, notably impaired cognition and weight gain (seen with gabapentinoids), and analgesic tolerance and risk of addiction (seen with opioids). 1-4 In fact, ZTlido can be used in combination to optimize gabapentinoids by delivering additive, remarkable pain relief without adding to systemic adverse events – and the combination has the potential to reduce the use of opioids.” 1,5, 6, *
However, not all lidocaine patch products are created equal. ZTlido 1.8% uses proprietary ZTech advanced technology to provide 9x greater bioavailability versus 5% lidocaine patch and superior adhesion proven in head-to-head studies, and while showering, bathing or exercising. 7-12 This ensures that pain relief is delivered for the full treatment duration, without interrupting a patient’s routine.
ZTlido was approved by the U.S. Food and Drug Administration (FDA) in 2018 for relief of pain associated with post-herpetic neuralgia (PHN) in adults. Side effects of ZTlido include application site reactions such as, irritation, erythema, and pruritus.
About ZTlido® (lidocaine topical system) 1.8%
Indication: ZTLIDO is indicated for relief of pain associated with post-herpetic neuralgia (PHN) in adults.
Important Safety Information
Contraindications: ZTLIDO is contraindicated in patients with a known history of sensitivity to local anesthetics of the amide type, or to any other component of the product.
Warnings and Precautions: Accidental exposure can occur even after a ZTLIDO patch has been used. Small children or pets could suffer serious adverse effects from chewing or ingesting a new or used ZTLIDO patch. Store and dispose of patches properly and keep out of reach of children and pets.
Excessive dosing or overexposure to lidocaine can occur. Longer duration of application, application of more than the recommended number of patches, smaller patients, or impaired elimination may all contribute to increased blood concentration levels of lidocaine. If lidocaine overdose is suspected, check drug blood concentration. Management of overdose includes close monitoring, supportive care, and symptomatic treatment.
Cases of methemoglobinemia have been reported with local anesthetic use, although patients with glucose-6-phosphate dehydrogenase deficiency, congenital or idiopathic methemoglobinemia, cardiac or pulmonary compromise, or concurrent exposure to oxidizing agents or their metabolites are more susceptible to developing clinical manifestations of the condition. Signs and symptoms include cyanotic skin discoloration and/or abnormal coloration of the blood and may occur immediately or may be delayed after exposure. Methemoglobin levels may continue to rise leading to more serious central nervous system and cardiovascular adverse effects. Discontinue ZTLIDO and any other oxidizing agents. Depending on severity of the symptoms, patients may respond to supportive care or may require treatment with methylene blue, exchange transfusion, or hyperbaric oxygen.
Application site reactions can occur during or immediately after treatment with ZTLIDO. This may include development of blisters, bruising, burning sensation, depigmentation, dermatitis, discoloration, edema, erythema, exfoliation, irritation, papules, petechia, pruritus, vesicles, or may be the locus of abnormal sensation. These reactions are generally mild and transient, resolving spontaneously within a few minutes to hours. If application site reactions occur while the topical system is being worn, advise the patient to remove ZTLIDO and not to reapply until skin reactions subside.
Hypersensitivity cross-reactions may be possible for patients allergic to PABA derivatives. Manage hypersensitivity reactions by conventional means.
Eye exposure with ZTLIDO should be avoided. If eye contact occurs, immediately wash out the eye with water or saline and protect the eye (such as, eyeglasses/eyewear) until sensation returns.
Adverse Reactions: Side effects of ZTLIDO include application site reactions such as irritation, erythema, and pruritus. These are not all of the adverse reactions that may occur. Please see Full Prescribing Information for more information.
Use in Specific Populations: Use of ZTLIDO during lactation should be used with caution as lidocaine is excreted into breast milk. The limited human data with lidocaine in pregnant woman is not sufficient to inform drug-associated risk for major birth defects and miscarriage.
To report SUSPECTED ADVERSE REACTIONS, contact SCILEX Pharmaceuticals Inc. at 1-866-SCILEX3 or contact FDA at 1-800-FDA-1088 or www.fda.gov/medwatch.
Please click here for full Prescribing Information .
* Less is More: ZTlido 1.8% uses proprietary ZTech advanced technology for proven bioequivalence to 5% lidocaine patch, but with 9x greater bioavailability. 7-9 Data are from studies performed with 5% lidocaine patch.
The price will not stay at $8 forever. If we are at $18 and there is a crash, we will still stay above $8.
I repeat myself. The shorties have not had a free field for some time now.
There is a strong force that ensures that our share price no longer falls into the bottomless pit.
One thing is very clear, our price will never fall below 8 $ again, for sure ...
Good luck, my friend ...
Nice that you are paying attention. Please let us know if the fda allows covi-stix.
Good to have you on board ...
Thanks Dominate, I love this part ...
But more importantly, these people are teed up with the right regulatory expertise, the infrastructure, I believe there's about 800 people that work in that company, and they have a variety of products already in the clinic, in COVID and otherwise. And we expect them to bring this to market in a more efficient way with a higher probability than we can do it on our own, with obviously a much lower cost to us, with a high upside potential for both companies...
We will never see a short squezze, but for some time now, it looks as if the shorties have now been massively limited in their ability to pull the price down at will. I like that very much ...
SETTLEMENT DATE SHORT INTEREST AVG. DAILY SHARE VOLUME DAYS TO COVER
07/30/2021 48,422,291 4,514,823 10.72518
07/15/2021 48,325,970 9,745,811 4.95864
06/30/2021 50,364,647 7,500,281 6.715035
06/15/2021 50,826,286 8,436,475 6.024588
05/28/2021 50,656,137 4,097,161 12.363716
05/14/2021 53,420,107 5,835,924 9.153667
04/30/2021 56,613,776 7,151,662 7.916171
04/15/2021 59,553,984 8,095,839 7.356123
SAN DIEGO, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento"), a clinical and commercial stage biopharmaceutical company developing new therapies to treat cancer, pain and COVID-19, announced today the availability of a presentation on its corporate website to provide an overview of Sorrento’s proprietary mRNA vaccine development program for COVID-19.
Highlights of the presentation include:
MultiValent COVID Vaccine candidate comprised of proprietary designer Spike-encoding mRNAs designed to elicit cellular and humoral immunity against the early WA-1 virus as well as the predominant variants of concern (VOCs), Alpha, Beta, Gamma, Delta, and Lambda.
mRNA construct engineered to remove a furin cleavage site in the native spike protein. This cleavage site could potentially lead to spike protein being cleaved off the cells expressing the protein and then entering the circulation.
Thermostable mRNA lipid nanoparticle (LNP) formulation that potentially allows for provision of vaccine doses without the need for frozen storage after time of manufacture, during transport and prior to dose administration.
Development of equipotent lyophilized dose forms that may further enhance the potential for vaccine delivery to underserved populations due to cold-chain storage and transportation issues.
Micro-epidermal infusion patch device potentially elicits a superior immune response thought to be due to the direct lymphatic dose delivery. MultiValent COVID Vaccine administered via Sorrento’s proprietary Sofusa® MuVaxx™ system achieved equivalent serum IgG responses at one tenth of the dose compared to intramuscular administration in mice based on preclinical studies.
The presentation can be viewed at: https://investors.sorrentotherapeutics.com/events-and-presentations/presentations
Sorrento Therapeutics Mexico (“Sorrento Mexico”) and INMEGEN have executed an MOU to further collaborate on clinical development of a broad pipeline of COVID products, including diagnostics, multivalent mRNA-based vaccines and therapeutics. Sorrento provides its most comprehensive portfolios and a “one-stop-shop" of potential solutions for governments interested in a multi-modal “detect and treat” approach to the COVID-19 pandemic.
Sorrento Mexico plans to install local clinical research and development capabilities within the INMEGEN facilities and personnel in Mexico City and will work closely with Mexican hospitals and clinical institutions on clinical protocols, regulatory registration and approval requirements for the COVID-19 product development.
SAN DIEGO, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced that its subsidiary company, Sorrento Therapeutics Mexico (“Sorrento Mexico”), has entered into an MOU agreement with the National Institute of Genomic Medicine INMEGEN (“Instituto National de Medicine Genomica”) to cooperate in the development, testing and support of multiple COVID-19 related products Sorrento plans to commercialize in Mexico.
Sorrento Mexico and INMEGEN will expand its collaboration to include additional Sorrento COVID pipeline products spanning diagnostics, therapeutics and multivalent vaccines, including the following product candidates:
COVITRACK™: COVID-19 antibody detection diagnostic test for vaccinated people;STI-2020 (COVI-AMG™): Affinity matured neutralizing antibody against SARS-CoV-2 for outpatient COVID patients;STI-2099 (COVIDROPS™): Intranasal neutralizing antibody version of COVI-AMG for newly diagnosed COVID patients;COVISHIELD™: Cocktail of neutralizing antibodies against variants of concern of SARS-CoV-2;STI-5656 (Abivertinib): BTK inhibitor for the treatment of acute respiratory distress syndrome (ARDS) in hospitalized COVID patients;STI-8282 (COVI-MSC™): Allogeneic mesenchymal stem cells for the treatment of COVID-associated ARDS in severe COVID patients; andMultivalent mRNA Vaccines: mRNA-based multivariant vaccines protecting against SARS-CoV-2 virus, Alpha, Beta, Delta and Gamma variants of concern.
Sorrento Mexico plans to establish a local research laboratory within INMEGEN’s facilities to ensure close collaboration between the INMEGEN and Sorrento teams for testing, clinical trials and development of COVID related products.
“We are excited about our close collaboration with INMEGEN and intend to have Sorrento Mexico as a gateway to all Latin American countries for our innovative COVID diagnostic, vaccine and therapeutic product candidates,” said Henry Ji, Ph.D., Chairman and CEO of Sorrento Therapeutics.
Great find Jesspro ..
Right direction ...
SETTLEMENT DATE SHORT INTEREST AVG. DAILY SHARE VOLUME DAYS TO COVER
07/15/2021 48,325,970 9,745,811 4.95864
06/30/2021 50,364,647 7,500,281 6.715035
06/15/2021 50,826,286 8,436,475 6.024588
05/28/2021 50,656,137 4,097,161 12.363716
05/14/2021 53,420,107 5,835,924 9.153667
04/30/2021 56,613,776 7,151,662 7.916171
04/15/2021 59,553,984 8,095,839 7.356123
SAN DIEGO, July 23, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) and Lee’s Pharmaceutical Holdings Limited (HKEX: 950, “Lee’s Pharm”) announced today that, on July 15, 2021, China Oncology Focus Limited (“COF”), a subsidiary of Lee’s Pharm, has enrolled the first patient in China in the Phase 3, multicenter, randomized, double blinded, placebo controlled clinical trial of Socazolimab (anti-PD-L1 monoclonal antibody, formerly known as ZKAB001) combined with chemotherapy in the first-line treatment of extensive-stage small-cell lung cancer (ES-SCLC). The clinical trial clearance was granted by China’s National Medical Products Administration (“NMPA”) in March 2021.
The initiation of this Phase 3 trial is based on the very encouraging results from an earlier Phase Ib trial in which Socazolimab combined with carboplatin and etoposide showed a promising efficacy and safety profile in patients with extensive-stage small-cell lung cancer. This clinical trial involves 56 centers and is led by Prof. Shun Lu from Shanghai Chest Hospital.
About Socazolimab
Socazolimab is a fully human anti-PD-L1 monoclonal antibody identified by Sorrento using its proprietary G-MAB™ library platform. COF received exclusive rights to develop and commercialize the antibody for Greater China, which includes Mainland China, Hong Kong, Macau, and Taiwan. Socazolimab has the following potential advantages over its competitors:
Fully human antibody potentially allows it to have minimal immunogenicity; demonstrated by its negative antigen-derived antibody (ADA) generation in humans in studies to date.
Potentially lower dose required to achieve efficacy compared to other anti-PD-L1 antibodies.
Dual mechanism of action observed with both immune-checkpoint inhibition and antibody-dependent cellular cytotoxicity (ADCC) effect.
The antibody has been tested or is being tested in various cancer indications including recurrent or metastatic cervical cancer, maintenance therapy for high-grade osteosarcoma after adjuvant chemotherapy, locally advanced and metastatic urothelial carcinoma, extensive small cell lung cancer in combination with carboplatin and etoposide, and advanced urothelial carcinoma in combination with albumin-bound paclitaxel and esophageal carcinoma.
Normally, we must explode today ...
My spirit, what a company ...
Sorrento- the neverending story...
SAN DIEGO, July 20, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced that it has formed a subsidiary company based in Mexico City, Sorrento Therapeutics Mexico (“Sorrento Mexico”), to support the clinical development and registration of multiple COVID-19 related products Sorrento plans to develop and commercialize in Mexico and other Latin America territories.
Sorrento Mexico has established offices in Mexico City with Dr. Henry Ji as Chairman and Mr. Héctor Sulaimán S. as Chief Executive Officer.
Sorrento’s distributor has received from COFEPRIS written permission to import the first 25 million test units (1,000,000 boxes of 25 tests/box) of COVI-STIX into the country. These COVI-STIX professional use package contain a positive and a negative control test and all the components necessary for testing. Sorrento is ramping up manufacturing to fulfil subsequent orders.
“We are excited to form Sorrento Mexico to coordinate the development of our COVID-19 portfolio of products in the region, we anticipate expanding the programs to encompass Sorrento’s full range of diagnostic and therapeutic products,” said Henry Ji, Ph.D., Chairman and CEO of Sorrento Therapeutics.
Guys, can you hear me ...
We are on the way to becoming a big, big pharma.
We are at the beginning.
We have the opportunity to buy all we can.
The only good of shorties, they give us the chance to buy over a long period of time.
Enjoy it ...
The shorties know more than all of us. In the current situation, where Sorrento is, with all these developments and news, I would have to be full of stupid and still go short with 50 million. I do not know when this nightmare will end, but what I know for sure is that there will never be a short squezze, never ...
I sincerely hope that Sorrento does not announce on Thursday that it will be allocated over a billion. Because then the shorties will send us back south.
Ok, everything normal in this great free market ...
The problem is we are printing money. But not behind every dollar is a countervalue.
I like your last sentence ...
San Diego biotech Sorrento Therapeutics is paying top dollar to lease a five-story building that’s anticipated to be completed in early 2023
San Diego biotech Sorrento Therapeutics is expanding its physical footprint and taking over the yet-to-be-constructed research facility across the street from its existing headquarters.
The publicly traded firm, which is currently studying coronavirus treatments and tests, has agreed to lease the 163,000 square-foot building planned for 4930 Directors Place in Sorrento Mesa, according to a recent filing with the Securities and Exchange commission. The biotech will rent the office and lab building — to be developed by owner-operator Healthpeak Properties — for 188 months (or nearly 16 years) at a rate of $5.10 per square foot to start.
The $120 million project, also known as Sorrento Gateway, is scheduled to break ground in the third quarter of this year and construction is anticipated wrap up in early 2023. The five-story building will feature expansive views, an on-site cafe and fitness center, as well as outdoor seating and collaboration areas, according to marketing materials and other public presentations.
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“This project will allow us to meet the demand we are seeing from both existing and new tenants,” Scott Brinker, Healthpeak’s president and chief investment officer, said in a press release.
Sorrento Gateway is the third, new-construction project since 2020 for Denver-based Healthpeak, a real estate investment trust that specializes in lab and medical buildings. The firm also recently pre-leased its 185,000 square-foot, two-building Callan Ridge development in Torrey Pines to cancer therapy biotech Turning Point Therapeutics.
The latest lease is a sign of continued demand for life science space in submarkets adjacent to Torrey Pines, where rents are climbing amid an overall scarcity of real estate clustered near science and research institutions. The Sorrento Therapeutics lease appears to set a new baseline for the Sorrento Mesa submarket, where real estate brokerage JLL expects average asking rents for top-tier, lab-ready buildings to balloon from $4.60 per square foot plus taxes and other expenses at the end of March to $5 per square foot plus taxes and other expenses in the second half of the year.
Started in 2009 and based in San Diego, Sorrento Therapeutics employs around 500 people across the world. The company owns the FDA-approved prescription medication ZTLido, a lidocaine patch for people who have recovered from shingles. It’s also developing pain management drugs, cancer fighting therapies and rapid COVID-19 diagnostics. Last year, it rebuffed a billion-dollar buyout offer.
Representatives from Sorrento Therapeutics and Healthpeak Properties did not respond to a request for comment.
Nice to see that in a real market our puppy would go higher and higher ...
Continuing ...
SETTLEMENT DATE SHORT INTEREST AVG. DAILY SHARE VOLUME DAYS TO COVER
06/30/2021 50,364,647 7,500,281 6.715035
06/15/2021 50,826,286 8,436,475 6.024588
05/28/2021 50,656,137 4,097,161 12.363716
05/14/2021 53,420,107 5,835,924 9.153667
04/30/2021 56,613,776 7,151,662 7.916171
04/15/2021 59,553,984 8,095,839 7.356123
My friend, without any doubt, Sorrento is on its way to becoming a major pharmaceutical company ...
On the 22 july we will know more ...
I think its not a decision wheter he is guilty, he is.
Its a decision how much he would pay ...
... and on 22 july Sorrento will receive the money for the financing of Patrick Soon-Shiong ...
Bombastic, thats great thanks ...
Wow, Harbor 6460 % right, I love you ...
Damned ...
In a real market, srne would rise slowly but steadily, from bottom left to top right. But it is not. What would we do if they bring srne today below one dollar. Would we call the sec or would we say the market does not like srne.
Unbelievable
What a beautiful great market ...