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I wonder why people come here to tell us this is a scam, the CEO is inept, Mark T. lives in a crappy place, none of them have any money, etc.? More importantly - why would they be spending their valuable time here with us and why aren't they aren't elsewhere using their acute business skills on more lucrative stocks and investments? Odd these bashers are wasting their time here? Let us sink ourselves. Why would they care about how I spend my $$?
Well said Irish.
Why does a basher spend their time so foolishly by hanging out with us? Do they have our best interests in mind? Are they trying to help us see the light of our ignorant investing options? or, Or, OR - are they doing so for their own personal gain and nefarious intentions?
Since they don't know me or my situation - I am quite positive it is the latter.
Hey Irish! Really appreciate your DD - thx. I like our steady rise and its entertaining to boot! TBH - I can't quite understand why these bashers even hang around here given our plebeian status? Are they concerned about my financial situation or are there ulterior motives, benefiting themselves? Hmmmm..... GLTA - I hope we are in for a great ride. Cheers!
Hey 1776! Andecker here! When did you return? I left about 1 yr ago but peaking in on occasion but seeing same old poo - would leave once again. Not sure what to think here - can't get much worse. I had hoped we would have put feet to fire of those those brokerage houses that may have traded illegally?!!? The POOF - nothing! My only thought right now is - if SRNE didn't have value / things about to happen for us, wouldn't the good Judge Jones have said long ago, "...OK, we are done here. Nothing left to do or slice up. Secured debtors - here is your 10 cents on the $. Common stock holders - well sorry - no parting fits for you of any sort!" I have a glimmer of hope we come out whole w/out a reverse split.
Cheers! Had myself a Coors Banquet this evening and a Drewrys Lager as I watched my Motor City Kitties beat KC.
Well - good news here!
https://beststocks.com/ubs-group-ags-bold-investment-in-sorrento-therape/
Would like to see same info on fintel but this appears to have just been released today.
Thx Headslwin,
Sad truths but it's how I feel.
I am pretty pissed at myself for not taking $ off table - double trouble for me when deadlines came and went, averaged down nurses times but then I didn't take anything off table when we hit the teens!
This was combination of greed and still believing - that we'd have something approved while we climbed but then nothing. I even remember tell the wifey, "...we have some great products to help with COVID - wouldn't that be great if SRNE skyrockets!"
Oh well....
I've emailed, faxed and even written personal letters to Farley, our CFO, DR. Ji himself - asking if we've re-engaged the company that made us an offer 3 years ago, if we need to hire Cardinal Health to help promote push anything over finish line, what is the current production capacity at Fourtune Bio (does the company even make anything or is it a shell company), what happened to Darpa, has anyone been FIRED for the inept job performance, etc, etc....I even plead for any morsel to give me even a sliver of hope!? Such as PPT deck they've used to promote the company and convince the Tutues to buy our lies, er ah, I meant our stock.
NOTHING! Zip! Not one response. I leave my cell # but nothing.
Makes you wonder. Well - at least they'll have a nice new office building to go to work in.
Cheers!
Enjoying a Point Snow Pilot nut brown ale and made my wife a wicked good whisky sour. They both help me forget! Let's go to $20/share and you'll never see or hear from me again!
Back in 2008-9, the company I had been at for 10 years ran in to a very rough spot. Everything was down sales, profits, etc. not unlike the last 22 months (or should I say up; inflation, costs, fuel, raw materials) - any who, the owner requested that all 55 employees take a 20% pay cut - including himself and the other co-owner.
This person was a leader. They both even turned in the 2 expensive Volvo company cars for Chevy Malibus!
How does this apply to our situation at the big SRNE ranch? We've run in to that very rough spot too. But what has our leader done? Has he taken as much as he could? Was his compensation package millions of dollars last year while the longs were burned at the stake? Yup. Take as much as you can while you can get it is not a good business model in my opinion. But then again, I am not the CEO of a BK. Weren't we suppose to be worth billions by this point?
Been here since 2015. Not a basher - just pissed. Really pissed. Patience they say in biotech. Everything has been a lie to date. Shorts will get burned we were warned by JI! What about or golden hamsters, fortune bio, Darpa, Virex - the company from Boston we bought, Mayo, all the money we sunk in to the Chinese virus, why were we hiring people in GA, our library of genome codes, Brazil study, UK study, what the hell did we hire Tommy Thompson for?! Do we know what his role is? What's he done?
Yup - lost unrealized 200k+ on this pooch - I am pissed. I hope I eat crow soon and all of you can give me a huge "I told you so!". Would love it.
What ever happened to 1776?
Signed Andecker.
Did we pop from 36% institutional ownership to 46%?
Institutional Shares (Long) 214,223,329 - 46.14%
https://fintel.io/so/us/srne
Hey Brandy --
I have as much angst against the good Dr as you and most here - probably more as I have many many shares which I purchased starting back in 2016 well before (I assume) many here stumbled across this wonderful stock.
What makes it worse holding this long + what I have lost is the opportunity cost. Makes me me sick to think if I had placed elsewhere or even taken $ to buy the 65 Corvette ragtop L79, 4 speed with factory side pipes. Now only a dream.
My point though - if he falls fast, we all do. I actually sent the good Dr. a letter this week to remind him to call the company that offered us $7/share in 2021. I hope he can do something. I only have slim hope now.
Hey 1776 - Where Are YOU?
What have you been up to?
Have you just taken a break from SRNE and still have your shares or did you give up and moved on to something else?
I always appreciated your insight.
I hope you are back soon.
Then again, we know hope and change is not a strategy.
Cheers~~
Andecker
Here is link to the 12/15/2022 proxy - looks like it's time to vote 40MM shares for executive compensation for job well done!
https://investors.sorrentotherapeutics.com/static-files/e772ed18-5e0e-45c1-8525-66d8b743aaba
This takes some guts. This is more dilution and they think we should reward them going from $10+ to a solid $1.5x?!? Crazy - I hope this is why the institutions bought so much las few months - to vote this entire board out.
Also - RE: Scilex - am I wrong that all SRNE will get from this deal is 100MM? We as shareholders will get zip?!
1776 - still around or gone?
Anyone have something positive to post? What are the 6 things that court pop in Nov. Mr. Dia?
Whoops....I "threw" this out to Mr. Caly a few days ago - prior to PR that was released yesterday. Noted - error on my use of text - but my timing was interesting!
Was gone for last 5 days and upon opening up email this AM, Tuesday - imagine my surprise to see the PR on Scilex.
Have yet to read but will be interesting to see its contents and if it properly outlines what we as current owners will be receiving for this "deal"...seeing that there was nearly a ZERO POP on s/p - it's a big nothing burger. C'est la vie!
Well, I better get back to work as I have some new student loans to pay off.
We all wish for a couple of home runs - I'd take a bunt at this point. At least it'd be close to a hit.
So - I through this out to Mr. Caly a few days ago - what are we getting as owners of Scilex upon its spinoff?
1776 - where are you? Gone or just not looking any longer?
I wish I didn't have to think my glass is half empty Mr. Caly. I wish I had the optimism I had 2+ yrs ago. I started investing in this pooch 6 yrs ago now. A huge error on my part.
Other bio-tech companies - 1 just today, have positive Phase 1 results and their s/p rockets. Our's implodes.
Efforts on this board are mostly speculation - we guess, hypothesize and try to conclude what's going on behind the scenes. There was so much potential but one by one, they vanish, we never hear status, we fly blind as to what is happening...IE: FortuneBio - what does it make, how many employees, is it running at 60% capacity, are we curing other companies to fill open capacity, Etc.
Mayo, Brazil, Darpa, Tommy Thompson...crickets.
Mr. Caly, what can you share with us on how we may/will be benefiting from Scilex spinoff? We both currently own this asset. I'd expect we'd get something if is it spun off - don't you agree?
Did we lose your 1776!? I hope not as his assessments were only source of hope.
Hello SRNE Peeps!
1776 - where have you been as of late?
I have a very good friend, who, like many other Americans is perplexed where the USA is headed - I asked him how he handles it. He simply said he is happily ignorant. Is this your frame of mind now 1776? Staying away or are you out?
Me - here to the end. Down so much already it would be silly to sell. Have a few concerns in short term though - will further dilution take us to <$1? Still as far as I can see, no real revenue stream. Could we be delisted soon?
• I wonder why Dr. Ji was at NYSE a few months back?
• Will we as shareholders of SRNE have any benefit from the spinoff of Scilex?
•There are 76 positions listed on our website - how will these positions be paid for if filled?
• It is obvious our current team is unable to drag ANYTHING over finish line - how can we convince board to fire inept staff and use external services such as Cardinal Health? They offer Drug Development and Regulatory Consulting
and will partner with a SRNE to develop the best regulatory pathway for a product, through every stage of its lifecycle.
• Haven't heard a PEEP from our CFO or even Tommy T! Wonder what they have been up to!?
I love our tagline: "Medicines For Saving Life" - I guess we can dream about that as I doubt we've saved a single one.
Cheers, Andecker
1776,
These points do worry me - you bring up the Fentanyl issue - never a mention of this terrible scourge on our society. Here in Milwaukee in 2020, we had 644 deaths - this year on pace for 700. What does our Milwaukee Journal spend 3.5 nearly full pages on a week ago!?
A portly young lady who, sadly - lost her mother to asthma. A single death in 2 yrs. Meanwhile hundreds die of fentanyl yet paper will not report on it since it would not be favorable to their team.
What people don't know is the government's first responsibility is to keep its citizens safe. An open boarder is the opposite of safe.
Great points on the IRS and taxes. Correct - something so efficient such as collection at POS makes sense but could encourage a larger black market with so many nefarious individuals about.
My only hope is a 3 run homer from SRNE in the next 6 months! $25-30/share! Sell and retire. So much time and money invested in this company I was so wrong about. Chump-city. I am afraid, however, this has no chance based on last 2 yrs. Patience is one thing - zero results is another. Here to the end. Ouch.
Dia - I really hope you are 3/4 to 100% correct on these events.
Agree w/ 1776 that time is not on our side.
Agreed - appears some want this chaos.
2.1 - 2.5mm people allowed to stream over our boarder in only 11 months, the unchecked riots in summer 2020 - hundreds of them, the rampant drug use, rampant crime, spending our of control, lockdowns, mass firings for not obeying, paying off student loans (AKA - buying votes) - yeah, no big deal - throw those loans on my credit card - what's another half trillion, inflation, doomed stock market, Dollar falling from grace, 75,000 new IRS agents!?
I can only hope SRNE can come through with something - preferably a buyout!!
Thanks for your input and thoughts 1776.
I hear and see people on other boards, "...we need to vote Ji out!", "...I can't believe the utes are putting up with this..."
- excuse my ignorance but is there an ability for us to vote Ji out coming up? Why do you think Ji bought those shares a few weeks ago?
What do you think Liz is up to?
Haven't heard a thing from Tommy T.!
I emailed and sent them both letters with some basic questions but no response (as suspected but never hurts to try...).
https://fintel.io/so/us/srne
Do you think the institution buys are based on algorithms or do you feel someone in our astute IR Dept., someone from our board called and sold these utes on the wonders of SRNE? I am thinking it was the prior - automated buys.
My hope is the company goes up for sale.
How can they afford this new building???!?! Does it identify as a student loan?
Interesting article - author is spot on IMO:
https://www.reddit.com/r/srne/comments/xk6ih9/fibonacci_code_isnt_a_substitute/?utm_source=share&utm_medium=web2x&context=3
Hello 1776 and Others,
1776 - what do you mean by, "Maybe we only have two quarters to go.."?
1. SRNE is done in 2 quarters? Then a poster (forget who...) from 6 months ago was correct - we go belly up and the the company that offered $7/share 3 yrs ago will swoop in and buy up the pieces!?
2. Or - are you optimistic that we will have something called a revenue stream by then or an alignment or a partner?
Last question:
1776, are you riding this thing in to a mountain like the US economy is doing? I bought some additional shares this week and down and only 10% - a win in my book for this stock!
Just think a 20% increase doesn't get us to $2 any longer.
Who has hope? Please - anyone - share your optimism?
Here is mine - the market will be stagnate for the next 12-24 months. So whether it is here or in SRNE - we will be losing. If either were to recover, I feel something in our pipeline will offer us a quicker recovery than what market will.
Hey 1776 ~~!
I do feel at best we will remain flatlined.
Or, if things happen as normal, we will lose value.
I believe he spoke at 8AM EST this AM, Wednesday.
He is probably over as I write and we are only down 1.1%!?!!?
Should we consider this an awesome win for team SRNE?
You decide - decision 2022!
Hey 1776 and Jesspro,
I'd be willing to sign my many K's of shares over - how do you go about doing this?
Jess - I did get my first response!!
So I went here...
https://www.covimark.com/support
...and I emailed our address: CustomerSupport@Covimark.com
3 weeks ago, the emailed bounced back.
In one of my snarky faxes I commented on how inept a company would be by not having at least an out of office set up to respond.
So, I pinged it again on Thursday last week and someone responded!
They asked what they could help me with and I asked how I could go about ordering these kits, where are they being sold and through what companies.
So, Did we ever find out why the good Dr. Ji was in/at the NYSE couple months back?
I really Really REALLY hope it was to find a suitor to buy his company.
Not being a negative Nancy P. - I can't help but think that every tome Ji speaks at one of these events, we lose value!?
Anywho - Jesspro - I know I sound very negative at times not unlike Brandy. Bad news is I am here to end if it is driven in to ground or it we get back to our 24 month high of $17.xx.
I hope it's the later BUT the past is best predictor of future IMO.
Current leaders, board, managers have proven to me that they do not have the ability to capitalize on our wasted investment.
I am proactive:
1. I've sent letters to 5 to the top 10 pharma companies in US sending their products manager VPs, CEOs, etc. - print out of our pipeline
2. Sent physical letters (via mail) to Liz and Tommy T. asking them why they joined company, what are their main tasks and also printouts of the astute questions/comments I see here and stock twits, etc.
3. I often FAX various board member to point out such Items as dated material on website, snarky comments from board pointing out failures in communication, whatever happened to x, y, and z, etc.
4. i also researched and found a company in Chicago that is suppose to help companies such as SRNE in negotiating products through FDA. I sent their info to our board AND sent and called this company to suggest they reach out to SRNE / Brunswick.
5. Left cordial messages for our IR dept. - asking of our company has a no communication policy with inverters? If the tutes buying are due to algorithms (and are blind buys) or does SRNE actually call on these companies and sell them placing their money with us?
Watching the Reds beat up brewers and having a Natty Lite.
Wife and I just got home from round of golf - we walk 9 every Friday. Good stuff to keep my mind off the 60% loss I have in this crappy company. Cheers!
PS: NEVER HAVE HEARD BACK FROM A SINGLE PERSON
Well Jess, I actually just picked a random date. I wasn't aware of this MIT study - but the rate our crime is spreading, decline in society and those clawing against capitalism, I am not sure how much time we have. **sigh**
So are you saying sell my shares, take my 55% loss, be happy it wasn't a 65% loss and spend while we still can?
I wonder if the good Dr. "don't ruin your families" Ji is buying up shares now to assure the tutes don't align with more shares than SRNE personnel which could single end of milking the cow for those on the SRNE dole?
Interesting, the company I was working for a few years back had a bad year. As a result, the owner had to make some drastic changes. he asked all employees to take a 20% pay cut. Believe it or not, the owner ALSO took the 20% haircut AND got rid of his Volvo and got a Chevy Malibu.
Which is the better leader? "Take as much as you can get away with" Ji or the guy I worked for? Both built their own companies so I know, they can do what they want how they want. Ji should be doing what he can to lower costs to STOP diluting our share worth!! The $7 offer 3 years ago is now worth a lot less due to all the shares flooded on market.
Sorry - I am negative and the bad news for all of you, I am here to stay as I am way down. We are cheering to clear $2.30/share?!?! It will be 2040 by time we get to $8 again if it ever happens.
My plan going forward: Hope for a buyout!! please Please PLEASE!
We are down not only because Dr. Ji and our leadership have failed to produce a single product that has produced a solid revenue stream for us.
In addition, Dr. Ji has diluted the # of shares out standing to keep the (very expensive) light on at the old place!
Basic law of economics - increase supply and price comes down.
I've been patient for 6 years and I'll admit it - I feel like a chump.
So much potential squandered. COVID products were a huge opportunity cost to us.
OK - who feels this is one of those things that an astute company should have covered OR...
Eh, no big deal?
Here is the customer support page with our pooch COVIMARK:
https://www.covimark.com/support#
Note the email: CustomerSupport@Covimark.com
I emailed it the other day, asking who is monitoring it and what their role is at the company.
The email was returned "undeliverable"!
A company on their game could have:
Set up an easy automated replay / out of office response - "Coming in Fall 2022" or even forward to an account that is monitored by the product manager or customer service person or!?
Instead - it gets returned?! Perhaps these are the types of shoddy attention to details that sank EVERY SINGLE ONE OF OUR COVID PRODUCTS.
So, on a positive note - it appears those with student loan debt will be getting some free money from me tomorrow. Also, congrats to all the shorts that ruined their families!
Hi 1776,
Again, appreciate your optimism, insight and sharing your thoughts.
Playing devils advocate - I feel you are making an assumption that is not happening and would be a monumental task if it were ever to happen. Yes, I feel the institutional investors want SRNE to succeed as we do BUT I am thinking it would be like herding cats for all of them to combine efforts / coordinate a way to right this sinking ship.
Even with 40m shares of SRNE that Blackrock owns - that puts them about $120,000,000 in value - look at their Bio ETF - they own 1/2billion + in Vertex alone. Their efforts are not to get on board of SNRE. They have way bigger fish to fry!
https://www.blackrock.com/us/individual/products/239699/ishares-nasdaq-biotechnology-etf
I think I own more shares than many of the institutional owners! DOH!!
So, to me, my only hope - due ineptness of Ji, management team, failed pipeline, below average personnel, turnover, rats fleeing ship, greed by upper management, dilution of shares, inability to convert anything to a cash flow, poor stockholder communication, not a singe approved drug, alignments with education alignments that never amount to anything, phase 1 and phase II drugs that just "go away", zero communication with us, the owners - etc, etc...
...is a takeover or buyout.
I've been here for 6 years - ZERO results. Zero revenue stream. There will be be nothing from sticks. Some people say $100m, I say <10.
All we have are a few magic beans sprinkled within our pipeline. We've waited so long and nothing. Those who got rich bet against the success of this company. We are CHUMPS to have believed.
Get back to work everyone - Joe's Inflation Reduction bill requires us to work harder so others do not need to, 85,000 more IRS agents. Here is an idea, perhaps everyone with an electric car should be required to power it with only electricity that comes from Chinese made solar panels or bird killing Chinese made wind mills?!
What is the wear an tear on a road systems from an 8500lb Rivian EV pick-up truck vs. a 5300lb gas powered Silveardo? Should those causing most destruction pay more?
Interesting assessment 1776 and good luck with you new shares.
What is your theory on the good Dr. being at the NYSE 1.5 months ago?
I did buy some additional shares in the $1.70 range and again $2.5X range 2 weeks ago. I agree, this may / probably will go lower. Once people see there are near zero sales in Mexico with earnings release in next week or so and once more people realize many products have gone **POOF** never to be seen again - it will take a toll.
But I like your solid conclusion on the tightening of their belts. We have three new adults in the room and I do hope they've get board focused.
Oddly - have we heard from Tommy there as if late?
https://sorrentotherapeutics.com/who-we-are/leadership/
Elizabeth is found on leadership team but Tommy is not.
Nothing since 7/5.
Still trying to lower average cost.
I do hope we get an offer - buyout. I saw on interesting theory that coincides w/ your product reduction observations 1776 - that often times, a company will reduce / clean up its act as it preps for merger or buyout AND it often happens just after earning announcement. Only his observation. Would a $25/hare be AWESOME or what!?!
HEY 1776!
Where have you been? On summer vaca or have you given up on our hopes and dreams of what SRNE was going to be?
I am too far in and now about 30% down to think about pulling out.
I just hope now there is a buyer somewhere that can find some value in this old AMC Hornet and perhaps we can get a $10/share offer?
It is obvious that current management team is inept and unable to present our wares or seal a deal. Oddly, my first email to Tommy T. to welcome him and ask how/who/what/where and why he joined SRNE was received with no bounce back but my second email was rejected. Is he still at SRNE?
Well, I hope you are still around 1776 and that you haven't given up hope YET. My only hope they sell out to end this misery.
Earnings coming up!
I wonder why ji was in NYSE 4 weeks ago?
Did anyone ever find out?
You just don't go there for the fun of it.
Why is this board so quiet as of late? Is our SRNE crumbling around us? No news, no approvals, no people within it ranks that can get things done? It's like SRNE is an arm of the Biden administration! Next we will find out that SRNE is going to redefine what a $100 million loss is - it is good for us!
WOW - where are you? Still monitoring things here?
Do you still own SRNE?
What can you tell me about it if so?
Share what you can. Thx.
I am still in. BIO has been bloodied much worse over the last year than the market in general. I did n't sell anything.
I look forward to anything you could share / any insight you can offer.
Thx~~
Love your optimism / comment and observation Max.
I have been here for 6 yr. Not going anywhere - would love a buy out at say...
$20-25/share! Dare to dream.
I'd get new windows and from door for our house and treat myself to a 1966 Corvette, 4 speed, side pipes. ~~ Sigh...~~
Please, oh PLEASE...buy out, Buy OUT!
End this. Here since 2015-16, never sold a share.
Imagine our angst ~~ if if ~~we get to $5, or even $7.
Cash out? Sell part? Hit your break even and sell it all? Or, will you have confidence to stay the course as we "hope" the settlement comes in, they can capitalize on any single success in the pipeline, we finally monetize something, etc.
A buyout ends our plight. Down 94% from its 52 week high.
Ouch. Don't want to ride that rollercoaster again.
To your point below - here is your Brazil info - did you see this 1776?
https://ensaiosclinicos.gov.br/rg/RBR-10s75n9x
Thanks for humoring me as usual 1776.
P1 and P2 for Brazil - shouldn't this have happened 18 months ago? Wy would they even look at our products when so many are out there, approved already and doing such a fine job - Just ask Fauci.
Whoops - didn't he just get diagnosed w/ the 'Rona? Lucky he was vax'd!
Oh 1776, COVISTIX is never going to produce anything significant for us. I don't have any proof of this other than past is best predictor of future. That COVID boat is 50 miles out to sea and we are drunk passengers standing on the dock waiting for it to come back.
I wrote Mr. Cooley today, our VP of IR asking what percent of shares are owned by insiders, if any recent purchases, etc. The only thing I've seen is sales by employees. Not sig. sales but (5,000 chunks or so) but no buys.
I would think those on the inside would be gobbling up these cheap shares knowing all the positive news just around the corner! That news we've been waning for since 12/19. Doh.
We have ZERO chance of recover now. Who in right mind would invest in such a pooch as SRNE when there are premium, properly run entities that have a FUTURE and at a 25% discount right now? We won't be on anyone's radar if and when buying of equities resumes which I know is right around the corner as Biden is on it. I know he'll deftly negotiate these challenging market melt downs we are experiencing now.
Hey 1776,
VG analysis once again. Thank you for input.
fintel was showing SRNE just earlier this week - institutional ownership at 45+%?!
Today, it's back to 36%. Very odd unless I read something wrong.
Odd.
I am like COVID 19 - I am here to party!
That was funny 1776 - liked that reference~~
Good info - that's why I am here, to gain some knowledge I am not familiar with. Interesting, I know a few people now who have been vax'd and our getting and testing (+) for a second time.
Good to know there is a glimmer of hope for one of our products to hit limelight. Fingers crossed for some news in July.
So, no ideas why there could b spike in institutional buyers 1776?