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Blackrock holds those shares in their index funds because they have to.
In other words no portfolio manager at Blackrock analyzed SRNE and said lets buy some shares.
This is a mistake I've seen a million times. Retail investors say so and so owns shares when in fact it's their index funds or ETFs. Yes, they own the shares, but not because they want to.
If you think about SRNE itself has negative value...meaning CELU + Scilex SPAC + misc. other assets say add up to $2 billion.
With a market cap of $800 million then Sorrento alone is NEGATIVE $1.2 billion.
No, they actually are stupid.
The reported revenue for Covimark / Covistix in the first quarter 2022 10-Q. You've been saying $100 million and I've been saying no way.
If SRNE doesn't split out Covimark revenue then no bet.
What's your over / under forecast for Covimark sales in Q1?
If it's a reasonable number I'll take the under for a steak dinner in NYC of the winner's choosing.
$50 to $60? I want what you're smoking? Or the gummies you're eating.
Just saying the press unfortunately does dictate. They butchered Trump day after day after day and now have a guy they like and if it helps to say Covid is over that's the way it will be. It sucks for any late in the game Covid players like SRNE, but Henry should have factored it into his planning and either moved faster or moved off of the Covid pipeline. He is pissing money away with no ROI and as a shareholder I would think that would really piss you off.
This is f-ing worthless. Don't you get it. There are no covid hospitalizations.
Covid is over.
Your president and your press said it is.
Nothing to see here.
This is another navel gaze by Henry leading nowhere.
Pissing away more money he doesn't have.
All of the video is stock footage and can be found easily on the internet. No need for script, location, etc. My daughter could put a video like this together from her bedroom in about an hour. I asked her.
If Missling was smart he would do something like this asap.
https://finance.yahoo.com/news/cassava-sciences-announces-fireside-chat-130000514.html
Another fake video made by a pumper.
Nowhere to be found at Sorrento.com
I guess pumpers have lots of free time to create content like this.
I've stopped counting, but this must be at least the 5th or 6th bogus piece of content that's been created.
General Counsel jumping ship. Won't protect him from Henry and from what is to come.
From Morgan Stanley report....Key words are "COULD have included." I take that to mean the list of about 110 firms didn't include Anavex nor should it since we know Anavex has more than enough cash to avoid financing in 2022.
If it turns out Anavex needs financing it will be because of successful trial results, success with the FDA and massive rollout costs.
I am right. Sorrento's stock is at $2.50 on its way to zero. Down 90%, diluting another $10 billion.
Alert SNRE pumpers! Can Henry Ji possibly be a bigger scumbag?
OMG - access to another $5 billion. I assume the SPAC guys approved it, seriously WTF?
Just another way to have access to cash and set it on fire.
I wonder when Henry is going to reprice all his options in the mega grant deal he received last year at around $17. And for that matter all his exec team. Must be pretty demotivating to know how much net worth has been destroyed by Henry and his team.
I can't wait to see everyone's head explode when that happens.
The PR from a couple of days ago has a GO of Q322.
Care to reassess since you are assuming Q222?
That only means you don't have any money invested. Every long has lost money, period. It may just be paper money right now and that may be what you mean, but if you invested you lost money.
I, on the other hand, not being delusional, have been short until recently and made a ton of real money.
BTW - CELU gets them 2 quarters cash when they can sell - not until July- assuming Bob H. doesn't screw it up and crater the stock.
The Scilex SPAC isn't happening. Market won't accept a SPAC deal.
Meanwhile Henry continues diluting his shares in a death spiral. Per SEC filings from 12/31/21 to 2/28/21 that was 27.8 million shares. It will be worse going forward.
Lastly, the Covid testing revenue you're counting on is bogus. Even if there is revenue the profit from that revenue will be negligible.
Sure, let's go with the opinion of the guy (you) who has lost nearly everything on his SRNE bet.
I'll go with the date the bridge loan is due plus 60 days.
Yep, COULD, but won't be.
Sure, always happy to retract my works IF I'm wrong.
In this case I won't be.
Wonder why Shari Coslett Vice President, Clinical Operations left Anavex last month.
Not me saying it, but Business Insider....
https://www.businessinsider.com/these-13-biotechs-have-substantial-doubts-about-their-future-2022-3
Funny how the presentation talks about non-GAAP financial information when in fact there is no financial information in the deck at all.
Doesn't ANYONE find that strange?
Literally every other company I follow at least has a statement saying how long their cash runway is.
Oh, that's right, SRNE's runway is less than a year as their auditors say every year in the 10K in form of a going concern opinion.
Michael Underwood, former #2 finance person at SRNE just started at Illumina as Director of Finance the other day.
Illumina is a real, $50 billion plus company and most definitely NOT the sub $1 billion garbage that is SRNE.
Not sure an 11 year old article means much.
I do agree moving from opioids to some other treatment is tremendously important.
Unfortunately, SRNE will be bankrupt long before they can deliver anything meaningful to market.
Another company buying SRNE assets from the courthouse steps will have to do it.
Pure unadulterated garbage.
Good for you Michael Underwood - leaving to get the Sorrento stink off of you.
Too bad your stock options are worthless.
If SRNE actually has revenue/cash generating sales Henry should pre-announce his expectations for Q122. Real companies do this all the time.
We also know Henry is interested in juicing the stock price so if he had revenue he would announce it early. The fact that he hasn't means there is no revenue. Or at least, not much revenue.
Calling me woke is just about the most insulting thing you could say about me. You have no idea what you are talking about. Not believing in conspiracy theories has nothing to do with being woke or not. For me, it's about reality and being able to prove something without just using anecdotes.
Sorry, I'm not a conspiracy theorist...SRNE and Henry Ji suck. That's it, that's the story.
So, Ji not even trying to get approval for this vaccine in the U.S.?
The only way to interpret no U.S. approval is that this vaccine if junk and only 3rd world countries will approve.
No comment on this announcement by Michael Underwood.
So, 2 CFOs and now the #2 finance guy are gone and everyone is ok with that?
My guess is that Henry did a direct sale to his foreign buddies who were short at the close Friday, hence the reason for the 57 million shares traded. Perhaps a short from $12 to $2 so made over $500 million on that trade.
I've done more due diligence and made more money on this stock than anyone on this board so what are you talking about.
Pipeline doesn't mean JACK if you can't execute and commercialize literally anything. Pipeline also doesn't mean JACK if you don't have money to get a drug to market.
Sell your stock and move on since you can't preform proper DD.
Rock solid finance guy at Sorrento announced he was leaving on Friday.
Michael Underwood, Director - Head of Corporate F, P & A.
I wonder if we was up for the CFO job and didn't get it OR he was tired of all the BS at the company. My guess is the later.
Either way Henry can't afford to lose finance talent right now.
Yep, another failed Henry deal.
Probably didn't want Sorrento toilet paper stock as compensation so terminated.
This company is soooooo awesome. All this great news in the last 24 hours and up a whole 3 cents.
So why do you think a company that is valued at $1.8 billion and owned by a company and that company is valued at less than half of that first company.
Doesn't that mean the market doesn't believe the deal happens or if it does the large shareholder will have zero value or less when it does.
Do you really wall street is that dumb? If there arbitrage to be made the price for either asset would adjust.