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COVISTIX revenue flow is just beginning!
Q1 2022 will be good.
Q2 2022 will be even better!
It is good to look at the Big Picture. Sorrento's portfolio is strong.
The wild card is approvals in MEXICO, BRAZIL, the UK or even by DARPA!
The Covid portfolio is needed. The testing portfolio is needed. The Cancer, Pain and SOFUSA technologies are all progressing! And news is coming soon!
All is well and all will be well.
Sorrento has a broad portfolio because of many very good investments, partnerships and acquisitions. A good example is SP-104, a drug to treat fibromyalgia, which they acquired from Aardvark Therapeutics. It has completed phase 1 late in 2021.
Sorrento has also been a lead investor in private Aardvark. And this month Aardvark initiated 3 phase 2 trials targeting the very large anti-obesity market. Furthermore Aardvark intends to engage in an IPO very soon. Another very attractive Sorrento investment! For an overview of Aardvark you can watch this...
https://journey.ct.events/view/0898f4ce-f101-4428-b057-a98405ee5ebc
Follow the Money. Institutions now own more than 30% of Sorrento.
The 3 largest holders increased their holding and now own 17%....
Blackrock Inc. 21,775,865 shares held Dec 30, 2021 for 7.11%
Vanguard Group. 15,692,730 shares held Dec 30, 2021 for 5.12%
State Street 14,595,754 shares held Dec 30, 2021 for 4.76%
In the US maybe! But I like the rest of the world strategy! I don't mind if Mexico and Brazil lead the way!
If the next Covid wave is BA.2 Omicron it is serious. It is said to be 50% more transmissable than Omicron and as lethal as Delta.
Thankfully Sorrento has 3 essential answers!
1. COVISTIX... affordable, accurate rapid testing.
2. COVISHIELD...affordable, effective rapid treatment.
3. COVI-MSC...prevention of ARDS and treatment of LongHaul Covid.
Covid is not going away. We simply have to live with it.
One major way we do that is by testing.
Many people will still want to protect their family, their workmates, their schoolmates etc.
Many people will still want to know if they have Covid when they feel ill.
And there may still be public situations which require a rapid test proof of health. For example seniors homes or cruise ships.
And if another easily spread, more virulent 5th wave occurs, all bets are off. In 1918 the epidemic killed teens and twenties in a few days! My family lost a couple of twenty year old that way!
In December 2021 Sorrento stated...
"Combining OEM and in-house manufacturing capacities, Sorrento is positioning to provide 30 million COVISTIX tests per month in the near term and expand to 50 to 100 million COVISTIX tests monthly to accommodate accelerating demand globally."
Just for fun lets assume they manufacture and sell an average of 40 million tests a month in 2022. That would total 480 million tests and if they can net a very modest $2.50 per test the 2022 net profit would be $1.2 Billion.
Some may complain that worldwide sales could far exceed 40 million a month and that they can net far more than $2.50 per test. Both complaints could very well be true. But only time will tell!
I can hardly wait for the Q1 2022 revenue guidance! COVISTIX sales should be very good!
I formerly thought of Sorrento as having 3 major categories...NON-OPIOID PAIN, COVID and IMMUNOTHERAPY.
1. NON-OPIOID PAIN has near term blockbuster potential in SEMDEXA for sciatica. This is followed by non-opioid drugs for back pain, fibromyalgia, cancer and arthritic pain.
2. COVID therapies includes COVI-MSC for ARDS and LongHaulers, COVI-SHIELD for injection and nasal drops and Mpro an oral broad spectrum anti-viral.
3.IMMUNOTHERAPY includes both Cancer and Inflammation. Abivertinib for many cancers, lupus, and MS, several PD-L1, many ADNAB(Mayo Clinic), DAR-Ts, ADCs and an oncolytic virus.
I now think we should acknowledge two more categories.
4.LYMPHATIC DELIVERY also includes both Cancer and Inflammation. In both cases SOFUSA delivers drugs to the lymphatic system in lower, safer and
more effective doses.
5. The TESTS portfolio is driven by exponentially increasing COVISTIX revenues. The acquisition of FORTUNE and VIREX can allow Sorrento to produce affordable, near PCR quality, rapid tests for many viruses and cancers.
ALL 5 CATEGORIES HAVE SEVERAL POTENTIAL BLOCKBUSTER PRODUCTS!
From the Virex acquisition press release.
"Virex Technology has demonstrated extremely high sensitivity for multiple biological analytes including COVID-19 virus detection as sensitive as 10 TCID50, rivalling PCR sensitivity.
Virex’s early liver cancer biomarker test detects a liver cancer biomarker in as little as 2 microliters of blood.
Virex’s diagnostic tests provide qualitative and/or quantitative results in as little as 5 minutes.
Virex’s diagnostic tests leverage existing worldwide manufacturing infrastructure for glucometers and glucose strip tests to provide affordable and highly scalable next-generation diagnostic solutions for COVID-19 tests, early cancer detection and beyond."
Sorrento's testing portfolio is getting interesting! The biggest unkown is Virex.I'm not certain about the timeline for the availability of Virex tests. They claim they can use current glucometer technology so a supply chain is available. And they specifically stated they have already been working on "the first test with which to pursue commercialization." Perhaps the liver cancer biomarker they mentioned? Or an even cheaper and more accurate Covid test? That would really blow away the competition!
Sorrento + Fortune + Virex = a lot of synergies!
I think Sorrento is aiming to become a World Class virus and cancer testing company. The majority ownership of Fortune and the 100% ownership of Virex signal a very aggressive entry into the testing arena. Fortune already has dozens of tests marked in over 20 countries and rapidly expanding production capacity. Both companies have technologies applicable to EARLY CANCER DIAGNOSTICS! Great synergy between these two companies and Sorrento's massive antibody library! Very good news.
Central and South America have a combined population of over 600 million. Europe is over 700 million. Looks like Canada will soon be onside with its 37 million. Sorrento's COVISTIX has potential markets about 4 times the size of the US market. Hope the FDA wakes up.
As far as I can tell Ascher is a real Canadian company licenced to market medical devices...and preparing to market COVISTIX in Canada.
Licence
From Health Canada
Holders of an active medical devices establishment licence
Licence number: 15097
New search
Company Id :
161874
Company name :
Ascher Medical Inc.
Address:
250 - 6 Avenue Sw
Calgary, Alberta, Canada, T2P 3H7
Senior official name :
LORIE WHEELER
If this article is correct Sorrento's Covid portfolio will be needed for many years!
New $45 million bridge loan until June 16, 2022. Will we soon learn more?
"On February 16, 2022, Sorrento Therapeutics, Inc. (the “Company”) entered into a Bridge Loan Agreement (“Loan Agreement”) between the Company, as borrower, and B. Riley Commercial Capital, LLC, as lender (the “Lender”), pursuant to which the Company borrowed $45.0 million from the Lender (the “Bridge Loan”). The proceeds from the Bridge Loan are expected to be used for working capital and general corporate purposes, which may include marketed product inventory build-up, capital expenditures, research and development expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments and business combinations, and for the potential repayment, refinancing, redemption or repurchase of the Company’s outstanding indebtedness, including those certain senior secured notes due 2026 issued by Scilex Pharmaceuticals Inc., a subsidiary of the Company."
It is over 3 weeks since the approval of the test of the test was granted.
Decentra Inc has taken the lead on COVISTIX. just type DECENTRA into the search field. They are a well respected firm helping companies navigate Health Canada approvals. https://www.canada.ca/en/health-canada/services/drugs-health-products/covid19-industry/medical-devices/list-authorized-trials.html
I don't think that the Q4 2021 report will show much COVISTIX revenue. But it should show some steady growth in ZTlido revenue. And I hope they also give guidance for some very nice COVISTIX revenue in Q1 2022! And perhaps announce the Q1 COVISTIX monthly production capacity. That should be a very strong figure.
Sorrento continues to add dozens of staff in San Diego. And 2 more regional business managers for Scilex, one in Texas, another in Georgia. They will be preparing for the SEMDEXA rollout. But the often overlooked SOFUSA drug delivery program is adding 8 new staff. Could be news soon IMO.
https://sorrentotherapeutics.com/careers/
The last time I looked Sorrento had over 20.4 million CELU shares. At CELU share price this morning that is worth over $127 million. Not too shabby!
Tony Robbins new book "Life Force" is promoting stem cells! This is benefiting Sorrento in two ways. Sorrento has a large holding in CELU. CELU share price is rising. Its CEO Dr. Hariri is a co-author and an expert in stem cells.
Sorrento also has its own stem cell treatment(COVI-MSC)in trials in the US and Brazil. The Brazil study in treating ARDS is PIVOTAL with news any day. A follow up study using COVI-MSC for LongHaulers is underway. Both are huge indications.
Sorrento stem cell trials are more advanced than CELU trials. But Sorrento shareholders benefit from all these trials and all this publicity!
All previous test comparisons have gone very well...I am sure Sorrento management are confident the testing will go well!
A Health Canada website reports that DICENTRA is a CRO authorized on Jan.25, 2022 to do a "decentralized trial to determine the degree of concordance between COVISTIX results and an authorized RT-PCR test's results....both for Point of Care and Self-Testing (at home use)."
https://stocktwits.com/RealYOW/message/436466597
https://dicentra.com/
I look forward to the COVI-MSC results. Its MOA should work against all variants to prevent ARDS and treat LongHaulers. As many as 1/3 of Covid patients have long lasting problems.
Future COVID variants could be more deadly, scientists warn
By Jackie Salo
February 13, 2022 9:08am
Though the Omicron variant had milder symptoms, that may not be the case for future strains, experts told the Guardian.
“There will be more variants after Omicron and if they are more transmissible they will dominate. In addition, they may cause different patterns of illness, in other words they may turn out to be more lethal or have more long-term consequences,” David Nabarro, a special envoy on Covid-19 for the World Health Organization, told the outlet.
Warwick University Professor Lawrence Young denied that there’s a “linear evolution of the virus from Alpha to Beta to Delta to Omicron.”
“The idea that virus variants will continue to get milder is wrong. A new one could turn out to be even more pathogenic than the Delta variant, for example,” he told the Observer.
Experts said it’s impossible to predict where the next variant will emerge from — or its characteristics.
“The Omicron variant did not come from the Delta variant. It came from a completely different part of the virus’s family tree,” Edinburgh University Professor Mark Woolhouse told the Guardian.
“And since we don’t know where in the virus’s family tree a new variant is going to come from, we cannot know how pathogenic it might be. It could be less pathogenic but it could, just as easily, be more pathogenic,”
The uncertainty about future variants should be factored into whether countries lift restrictions that were reimposed during the Omicron wave, experts said.
“It would be prudent to encourage people to protect themselves and others consistently. An approach that does not do this would be a gamble with potentially severe consequences,” Nabarro said.
Lawrence Young said, “The idea that virus variants will continue to get milder is wrong.”
“I cannot see any upsides to such a gamble. The pandemic has a long way to go and – as is the case since it started – people and their leaders will influence its long-term impact through actions they take now.”
The warnings come after Dr. Anthony Fauci suggested last week that the US is nearing the end of the “full-blown” phase of the pandemic and that virus-related restrictions may no longer be necessary.
“As we get out of the full-blown pandemic phase, which we are certainly heading out of, these decisions will increasingly be made on a local level rather than centrally decided or mandated,” Fauci told the Financial Times. “There will also be more people making their own decisions on how they want to deal with the virus.”
I know that I invested in SRNE for the Cancer and non-opioid pain portfolios!
However the strategic move into COVID products in Mexico, Brazil and the UK and Europe is paying off. Some are saying the COVISTIX revenue alone could exceed a Billion this year. And there are several near term news items due from Brazil and Mexico. And so far Europe has been silent.
COVISTIX alone could finance the entire Sorrento portfolio. And if one or two other Covid products are approved around the world we are off to the races!
Would anyone like to bet that there will be no more Covid variant waves? I know I would NOT take that bet! And Sorrento will be ready with second generation products even as the first generation pays the way!
You could very well be correct about the order in which things occur. For example, several big items could occur in Brazil any day now. Or Mexico? I am glad Sorrento made the move into Mexico, Brazil the UK and Europe. Some are saying COVISTIX revenues could reach a Billion this year. There apparently is a worldwide demand for affordable, rapid and accurate tests.I
And the next generation Covid/flu/A/B test could be a big seller next Fall IMO!
It is hard to tell without more data on both products IMO.
Blackrock owned 7.11 % of the company as of Dec.30, 2021. I wonder how much they have added since?
Holder
Blackrock Inc. 21,775,865 shares as of Dec 30, 2021. 7.11% of company and worth $101,257,772
When the big boys are ready to move Sorrento up...we all move up! Follow the money.
The open secret is that Sorrento will earn large revenues in 2022! (roughly in this order?)
1. COVISTIX revenue stream is just beginning. Watch sales increase as manufacturing ramps up. Mexico, Brazil, South and Central America and Europe are an enormous market!
2. ABIVERTINIB $61 Billion global market partnership(s). 8 months from first mention. Multi-Billion upfront, milestone and royalties!
3. SEMDEXA advances. Sciatica market in US alone is $3-5+ Billion. Label expansion to knee, shoulder, wrist, ankles and joints could add 50-200%
4. COVI-MSC for ARDS and LongHaul Covid. Look for Brazil, Mexico and Europe approvals first. Multi-blockbuster.
5. COVISHIELD 2 minute injections and nasal drops. Mexico, Brazil, Europe and UK lead the way. Another Multi-blockbuster.
6. Oral pan-corona anti-viral Mpro could be the biggest surprise of all. Appears to be safer and more powerful than Pfizer or Merck drugs!
And if the Corporate controlled FDA starts to put patients first there will even be US approvals!
PaulSnowman always makes sense!
"See with your eyes ??
1. When big Tutes have either increased or Initiated positions. It’s not just to sweep nickels off the table.
2. When Latin America is still being hit hard by Covid, and the price of STIX by distributors has gone up 45% or more. I would say there’s a big demand, and the price per unit charged to distributors has gone up accordingly.
3. Cancer is in the spotlight, and many companies (I see you Lilly) drugs trials have not gone well. Abivertinib trials in China AND US. ??
4. The opioid crisis will again have the spotlight because of the overall stress of Covid and abuse. SP102 non opioid and non black label with approval this year is sitting pretty.
5. When everyone is looking towards life after Covid, and the Long Hauler effect the spotlight will be on treatments in the upcoming months. It’s very likely Brazil is locking things up on their end, and just making sure of manufacturing before we see MSC EUA. US will follow a little later. Big bucks."
And look at Mexican Amazon..
https://www.amazon.com.mx/dp/B09RTMMJS5/ref=cm_sw_r_awdo_navT_a_T70BNVA56M1AYAYE47BD
I think that works out to about $11 or $12 US dollars a test...up about 45% from the earlier price. Demand must be good!
PaulSnowman has posted some great news about COVISTIX in Mexico...
"You want to know how much in demand STIX is in Latin America. Akuasul the company run by Sorrento Mexico CEO Hector S. sister used to sell STIX for $4,025 Mexican pesos. They received more stock in just today, and the new price is $5,800. That’s a nice jump up in price, but the demand for STIX is strong. Instead of giving boxes on hand like they normally do, they have it available until further notice. My thinking is because of the high demand, Sorrento has probably increased the price per unit. Don’t forget the Brazilian distributor Futura is open for business. Expect strong 1st quarter earnings revenue ??
COVI-STIX COVID-19 ANTIGEN RAPID TEST – BOX WITH 25 PIECES $ 5,800.00MXN
https://akuasul.mx/
With increasing COVISTIX and ZTlido revenues and a blockbuster ABIVERTINIB partnership around the corner I look forward to all 3 areas of Sorrento's portfolio advancing this year. I do not know another small biotech that has as many shots on goal!
1. COVISTIX for affordable rapid accurate Covid testing followed by 2 minute COVISHIELD nasal drops or injections with COVI-MSC to prevent ARDS and treat LongHaul Covid are all very timely. And Mpro oral wide spectrum anti-viral with no drug/drug interaction limitations could be revolutionary!
2. SEMDEXA for sciatica, RTX for arthritic and cancer pain, SP-103 for acute back pain and SP-104 for fibromyalgia all hold great promise as non-opioid alternatives.
3. Sorrento's cancer portfolio is second to none. Abivertinib, CAR-Ts, DAR-Ts, ADCs, ADNABs and a second generation oncolytic virus are only the beginning. Many are first-in-class and best-in-class! And they treat literally dozens of specific cancer indications!
Q4 2021 revenues should be a nice surprise when announced in the next week or two. And Q1 2022 will be even better!
Maybe this is the real issue?
"Lilly executives have said they would sell Tyvyt in the U.S. at a much lower price than older, similar drugs like Merck & Co.’s Keytruda and Bristol-Myers Squibb Co.’s Opdivo, which can cost patients upwards of $150,000 each year."
There is non-partisan political support around the world on 3 issues.
1. The need for affordable rapid accurate Covid tests and affordable rapid Covid treatments...both preventive, acute and chronic.
2. The need for safe alternative non-opioid pain treatment. The death toll from drug abuse is horrendous.
3. The need to attack cancer with a wide range of new technologies.
Sorrento is in the right place at the right time.
1. COVISTIX for affordable rapid accurate Covid testing followed by 2 minute COVISHIELD nasal drops or injections with COVI-MSC to prevent ARDS and treat LongHaul Covid are all very timely. And Mpro oral wide spectrum anti-viral with no drug/drug interaction limitations could be revolutionary!
2. SEMDEXA for sciatica, RTX for arthritic and cancer pain, SP-103 for acute back pain and SP-104 for fibromyalgia hold great promise as non-opioid alternatives.
3. Sorrento's cancer portfolio is second to none. Abivertinib, CAR-Ts, DAR-Ts, ADCs, ADNABs and a second generation oncolytic virus are only the beginning. Many are first-in-class and best-in-class! And they treat literally dozens of specific cancer indications!
Sorrento, along with many small biotechs has two weaknesses. They are treated poorly by the FDA, and they do a poor job of communicating with their retail shareholders.
I totally support their 8 month old announced intention to partner with a Big Pharma around their amazingly effective drug ABIVERTINIB. This partnership would benefit the finances. It would be worth multi-billions in up-front payments, milestones and royalties!
This partnership would finance the entire portfolio and could also address the two weaknesses that I referred to.
Big Pharma obviously have more influence with the FDA.
But I would also like them to have a seat on the Sorrento BOD and I would expect them to bring many professional investor relations practices to Sorrento.
There should be good news about ABIVERTINIB very soon. And SEMDEXA and RTX have great potential. But don't write off the the Covid portfolio. Covid will be with us for many years and COVISTIX, COVI-MSC, COVI-Shield and Mpro could have a long term benefits for many patients.
It is good to have the January 2022 Presentation. However it is clear that Sorrento needs a Big Pharma partner just as much as many Big Pharmas need Sorrento's pipeline! They have been pursuing an Abivertinib centered partnership for 8 months...it could be close at hand! But they need Big Pharmas influence with the FDA to advance the pipeline. SEMDEXA, COVISTIX, COVI-MSC, COVISHIELD , Mpro and Abivertinib all need to proceed rapidly to maximize their value. A large partnership will be a gamechanger.
https://investors.sorrentotherapeutics.com/static-files/ded13448-aa64-4405-a2d9-de644cfe9dfc