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I'll post the BOOB post below and make my comment short. The only question I have is... are we talking about the same guy?????
The 7% will quickly become 2-3 % as the Good Doctor dumps more stock into the market, takes big bonus and destroys the share price. Get this guy out of the CEO/COB business.
Go C7 and put it behind us. Here is the suggestion of one person:
"If JL gave us the choice to move ahead and liquidate Sorrento (CH7) or accept Dr. Ji's offer (7% of New co.) What would [sic] choose?
Here is how I think about it logically:
1) Ch7 would be fair for everyone including Dr. Ji, whatever Dr. Ji gets we get. we may not get much but at least Dr. Ji won't steal Sorrento for pennies and leave us behind.
2) Having a 7% stake of the New Co. In the longer term (5 years plus) as a private company may be worth something. Dr. Ji may be able to get one of our phase 3 products to the finish line.
Both are bitter choices but they maybe the only options left on the table unfortunately."
C7 is coming so I fear. Born in the USA living in the USSA. Get ready to use the new pronoun that solves the pronoun issue... Comrade, ???????.
I saw a great idea waste away over the years as management waited for a lawsuit windfall, which looked good, until money and power got involved but never took what they had and developed it into something. They just watched as it withered away and now a death rattle...it is still warm, so I visit from time to time.
Knowing who is involved I see and expect nothing, you?
Feel bad for his "friends" (suckers) that provided him a salary and a farewell party in the UK.
Congrats to you, glad you did. Still here as you own some or just lonely.
Rick, I'm shocked, shocked that the stock market and government are hand in glove. Hummmm, of course there is the stock market, Pharmaceuticals and the FDA...
The more things change the more they remain the same...
SCILEX Form 8-K for Scilex Holding Co filed 09/22/2023 (gcs-web.com)
Dr. Ji was also appointed as the Executive Chairperson of the Board, effective as of September 22, 2023.
Now I feel soooooooo much better. :(
With FUJOVEE having a C-meeting with response from the FDA this month does SCILEX's future hang in the balance? One way or the other the answer is yes. But what about SORRENTO and its future. Mpro looks to be it with P3 data compiled and posted, maybe, this month. Good news in China but how about the US, not so much. In case anyone forgot back in February 2022 there are at least 25 applications from China in drug development phases, planned to be submitted or already under review by the FDA, that are predominantly or solely based on trial data from China, the FDA said ahead of the panel vote, without naming the products. "Single country submission is a step backward in achieving the racial diversity that we need in the United States," Richard Pazdur, director of the FDA's Oncology Center of Excellence, told the panel.
There's trouble in China and that trouble is not only PLAXLOVID
Why Mpro in China you ask?
China’s total Covid-related death count is about 390,000, with a potential range of 77,000 to 945,000 based on fatalities seen in other countries. But that could be very wrong.
BEIJING, Aug 25 (Reuters) - China's abrupt move to dismantle its strict COVID-19 regime, which unleashed the virus onto its 1.4 billion residents, could have led to nearly 2 million excess deaths in the following two months, a new U.S. study shows.
This has doubters but they are educators involved in Equity and look to promote unequitable reasons for higher deaths due to social reasons. "Scientists have identified a gene that doubles the risks of respiratory failure and death from Covid. The latest study homed in on a single gene called LZTFL1, which was revealed to double the risk of respiratory failure and death."
The gene, which changes the way the lungs respond to infection, is the most important genetic risk factor identified so far and is carried by roughly 60% of people with south Asian backgrounds, compared with 15% of those with white European backgrounds. The finding could partly explain the excess deaths seen in some communities in the UK and the impact of Covid-19 in the Indian subcontinent.
Prof James Davies, a geneticist at Oxford University’s Radcliffe Department of Medicine and a senior author of the paper, said: “The genetic factor we have found explains why some people get very seriously ill after coronavirus infection … There’s a single gene that confers quite a significant risk to people of south Asian background.”
From China in January 2023 “State-run nationalist tabloid Global Times on Monday ran an opinion piece blaming “US capital forces” for China’s inability to cut a deal with Pfizer to include the pills in the national insurance. In short, remembering that fellow in NYC, THE PRICE IS TOO DAMN HIGH.
“During the past days, a growing number of US politicians and media outlets have been making shrill ‘warnings’ about the epidemic in China … If they do care about it, why don’t Pfizer drop some pursuit of the profit, and cooperate with China with a little more sincerity?” said the article.
In short, China needs something and that could be Mpro, Olgotrelvir (OVYDSOTM) (STI-1558), a Second Generation Oral Mpro Inhibitor, as a Standalone Treatment for COVID-19 waiting top line data from the study in the third quarter of this year (that would be NOW)...but how do we live long enough to prosper. Slowrento needs money to continue, sale of SCILEX stock perhaps or other assets, a partner in China and the US as well as promotion. Still, an RS is still in the cards as well as C7.
Frustration is rising over Covid drug shortages in China, and there are no easy answers
Let's get serious for a second, but no more than that. BoB is excited about the 8K that Scilex posted today, Sept 11, 2023, which states "Scilex participated in the type C meeting for purposes of pre-NDA discussion with the FDA and is pending official minutes in writing from the FDA."
So, it is a Pre-NDA meeting which is a 21 CFR 312.47 meeting. That means it can be either
1. End-of-phase 2 and pre-phase 3 meetings; is a second P3 required?
2. Pre-new drug application/biologics license application meetings
When this happened is unknown but the meeting package for a Type B meeting must be delivered — At least 4 weeks before the formal meeting, so Late July or early August. The official, finalized minutes will be issued to all FDA attendees (with copies to appropriate files) and to the sponsor or applicant within 30 days of the meeting. So, it would seem, the response from the FDA will come in September.
Yea-but... the SEC does not require companies to disclose all material information. So, will the shareholders learn anything new? Does SCILEX have to disclose, probably not. Does SRNEQ have to disclose since it is in BK, probably not as no BOD member is on the BOD of SCILEX... but Elizabeth Czerepak, M.B.A. is Executive Vice President, Chief Financial Officer and Chief Business Officer for SRNEQ as well as SCILEX. Does that complicate things, do not know but as all things Sorrento, It's a secret.
First for me, not really, have seen CEO's without talent milk other people before. Had a great idea, could have been the Metaverse king but settled to be the jester. Sad.
Hi Andecker... busy writing a process manual. I pretty much saw the handwriting on the subway walls and tenement halls so I saw no value in doing any more research. Bad government leads to bad economy leads to bad stock market leads to narcissism and hubris breaking out into bad management who knew nothing about stop loss and the art of surviving which he had to do at the end and much poorer for it. Having rambled on with that I do see some possibility in Mpro as Chinas troubles are getting worse by the week and the Flu season, Covid-19 etc) will be ramping up soon and Xi Jinping will need to throw his people hope. PD L1 statis is in doubt but here I sit watching a very large woman warming up in the wings just in case a Hero Pharmaceutical doesn't show up. Had a funeral for bud light and a "reveal" for Modelo this year... parties make you forget your troubles. So many microbreweries so little time. Hope all is well with you.
ROTFLMAOKS... thanks, you that guy who said "don't go in there" as the building was falling.
Might be unless... they are forced into C7. I believe we have at least 4 months before that could get real. Nothing solid until after 123123.
I get beat up for this, but Mpro is the only thing I see that can save the company. China is in trouble in multiple fronts, the invasion of Taiwan is more about their coming election so China will need to throw the population a bone and Mpro could be it. We should see if that flies before December, but will Sorrento be a viable company by then. Wicked game we are playing. As far as PD L1, well Sorrento says Phase III/Pivotal while Lee's Pharma says P1 +II NCT03676959 https://www.leespharm.com/clinical-trials/#.
Gosh, I don't know who to believe. Highly successful Lee's Phara or C11 Sorrento... tough call. Maybe there is a different "N" number which I cannot find.
What about the Scilex bonus shares?
SRNEQ loses control of SCLEX, the BOD is cleansed, Dr. Ji is tossed as COB.
Drug: SP-102 is currently considered worthless but NDA will be applied for, most likely rejected, NEW Corporate will re-evaluate the possibility/probability of success and cost after conference with FDA/NIH contacts and may put a STOP-LOSS on further investment, put it on the shelf, toss it in the can or sell it off if possible - depending on the conditions set in the merger of Semnur Pharmaceuticals, Inc. .
Fold existing products into a different company public or private and use the tax loss.
Scilex will fade away as the name has no value.
So where does that leave Sorrento and the investors (gamblers) after the dust settles. Fair question would be do the SILEX shares get clawed back? Will SRNEQ survive, Korea or China get acceptance of PS-L1 and SRNE gets a little cash with breathing room and then what is the result of Mpro in China (results in 3rd Q 2023...hey, that's now). Not much left in the "possible bowl" after that within less than 3 years.
Why are we here, well Covid, unwise government excesses in spending, a devastated marketplace ripe for short sellers, unwise government excesses in spending and mainly a BOD/CEO with a narcissistic self-assured hubris that was more focused on a $300 Billion company while shot gunning trials than making a profit for its investors and most importantly surviving long enough to do that.
You don't know because you don't have curiosity. Alfred E. Neuman is the fictitious mascot and cover boy of the American humor magazine Mad. His saying was "What Me Worry" for a while and it was changed once to "Yes, me worry!" after the Three Mile Island accident in 1979. SILEX has no patents, is using a generic drug Lidocane, has never developed a novel pharmaceutical of their own and will have to, most likely, redo P3 on SEMDEXA; there is no guarantee that an NDA will be issued.
The only out I see for SRNEQ is Mpro in China as their world is falling apart... but you know that, right? Data is to be released in the 3rd quarter of 2023... we are in the middle of the 3rd Quarter.
Yes, me worry...you bet.
HEY! Nice to know Alfred E. Neuman lives and the intellectually incurious "What, me worry?" philosophy carried through.
Unknown, could be 30:1. Have to see what the share price is by December... they have to still be alive by then though.
BOB says tons of money coming and a buyback of shares along with a faster path for Ji to reach the $17 Bonus level. Uh-huh, okie dokie, yup, you bet...
There has to be a RS, which Sorrento has done in the past, and most likely has the SEC doc at the ready. So that happens and then what, Ji sells more stock, it is shorted down once again.
The problem I see is that SP-102 has data for a year and has never applied for the NDA; why?
The data is suspect, or so I believe and indications are that another P3 with a different mechanolatry has to be performed. Several years before approval if approval comes. Mpro, P1 in China with results was described on January 9, 2023 at 9:00 AM EST in a release by Sorrento within which they stated "After communication with the regulatory agency, a Phase 3 protocol was submitted to China NMPA. The Phase 3 trial (MPR-COV-301CN) is entitled: “A Multicenter, Randomized, Double-Blind, Placebo-Controlled, Phase III Study to Assess the Efficacy and Safety of STI-1558 for Treatment of Mild and Moderate Symptomatic Adults Infected with SARS-CoV-2”. Once cleared by NMPA, the study, which plans to enroll 1200 COVID-19 patients, will be subsequently commenced."
On Jun 26, 2023 Sorrento reported that Top line data is anticipated in the third quarter of this year. If the trial meets its endpoints... it is the second month of the 3rd Quarter. China is a mess and Covid is still an issue so something new to offer the population that would be calming is a real possibility.
In the meantime Sorrento will sell off parts (kidneys, Lungs, blood, ugly stepchildren) that will get them through. Delay is the hope.
We should see something soon one way or the other from China but C11 exit is months away and how they exit is the question.
Scilex? It is a penny stock. SRNEQ... truly in every sense a penny stock and if things don't change soon a sub-penny stock.
Big day tomorrow (lol), Auction Sale hearing is, Aug 16.
When will the final paycheck be written from this piggybank is the only question left to know. Late 2024 or early 2025 is my guess. Started out with a great idea, made some money and then put it all on a bet that their patents would prevail and, in the meantime, kept writing checks to the person who remained in the company and didn't have the ability to take the company any further than the junkyard. All the while his "friends" and the rest of the company's investors watched without recourse, I guess, their net worth slowly melt away. Just a matter of time until I take the loss against profits.
The only way the doors stay open is with a lot of luck from China or Korea and soon. Unfortunately, I do not see that.
How about that SCILEX HOLDING bidding? I am not sure, but it seems no one wants it. No one really knows the statis of SEMDEXA which received Fast Track status from the FDA and 17 months after study completion has not applied for NDA. Having said that, you don't know what you don't know and for this personal piggy bank of the BOD there is little known. Vickers Vantage Corp. 1.6+ billion deal, lol, came in for about $120 million, bet they are happy. They knew more than the SRNE investors...maybe not. BP has connections in the FDA and NIH and I suspect knows the statis of it.
In any event the drone of "The Best is Yet to Come" and BUY, BUY, BUY has faded along with the stock price. This is not HERTZ who had assets and came out of BK in 14 months but since we are in the 7th month of C11 there is some room to hope.
OVYDSO STI-1558...
The Phase 3 study of Ovydso was initiated in China in February 2023 and enrolled and dosed 1,200 COVID-19 patients (1:1, active:placebo) at 25 sites in China. Covid is hitting the fully masked residents weaking Chinas economy as it burns its way through the population.
We (SORRENTO) anticipate top line data in the third quarter of this year (2023). Hey, it is the 3rd Quarter.
Should the Phase 3 trial be successful, we plan to open dialogue with regulatory agencies around the world to discuss paths to approval.
China represents, in many ways, SARS-CoV-2’s final frontier. With its under-vaccinated residents and sparse infection history, the nation harbors “a more susceptible population than really any other large population I can think of,” says Sarah Cobey, a computational epidemiologist at the University of Chicago. Soon, SARS-CoV-2 will infiltrate that group of hosts so thoroughly that it will be nearly impossible to purge again. “Eventually, just like everyone else on Earth, everyone in China should expect to be infected,” says Michael Worobey, an evolutionary virologist at the University of Arizona.
Dim light at the end of the tunnel...and the dim bulbs in the BOD room who got us here.
Well heck, that answered all our questions!
WOW!!! Before hell freezes over, cool.
OK, WDDD would go to _____ in _____ days/months/years/decades because of _____. Please fill in the blanks. op1 and copesjc can play also. Good money after bad is gambling and I do mine in Vegas and offshore where the house is honest and if you lose it is bad luck or bad decisions and not people taking your money to pay their rent. Still here waiting for the money to run out and the lights are turned off.
Flesh that out for me if you will. You would by more because...
Looks like, well try and be brave, the company has flat lined.
IP...what IP?? I guess Tom could have built a Metaverse software suite in all the years the company has been waiting for Mana to drop from the courts but then again you have to have skills to do that so...
Soooo....Scilex is now listed, and it didn't move the needle. Go figure, 100+ million in the bank, continued losses, no NDA for SAMDEXA Completed on January 6, 2022, and it is still really part of SORRENTO THERAPEUTICS.
Outside of a settlement in the PSS lawsuit what will keep this barge afloat after the 2nd Q 2023? Is another reverse split what the future holds?
CRYPTO...used for blackmail and in my opinion is the biggest Ponzi scheme ever.
You own...nothing.
Thanks, I needed a good laugh.
I thought it was "you can pick them from the pocket of the dead to see who they were."
We will find out very shortly what the burn rate for the first three quarters were, don't forget to add in the loan, and expand that out for the fourth quarter. Fairly quickly the new long-term rental will need to be fed. Furniture, people, materials, equipment, rent, electrical and other expenses as the months fly by and nothing is shipped for revenue from it. How is Scilex going public without its major product, SEMDEXA, still not approved... is it even being considered by the FDA yet, an unanswered question inquiring minds want to know. What will the stock go for considering it is still a large part of SRNE and they are hemorrhaging money.
Is that a light at the end of the tunnel or is it the RS special.
Disturbing to see all the hope for the company rests with foreign government approving products that are not through phase 2 testing here in the USA.
I can see little flickering points of light in Brazil, China, Mexico... but hey have been flickering for years. Where is the barn burner, even a campfire, that will take the chill off the investment community and get the SORRENTO train on the high-speed rails. Most everything I have read is the same as it was in 2021, it could be cut and pasted.
Looking for results, projections, updates and most of all cash flow... coming into the company and not out. I am expecting to see smoke and mirrors, a tap dance and extended hands by management for more Bonus stock, $40 million shares I believe, and little more. Most interesting is how much SRNE stock is left and sellable assets to keep the company afloat. There is always the lawsuit...
Actually, a white wine should be filled halfway; so, the glass is neither half full nor half empty... it's perfect.
On the other hand, the SRNE coffers are more than half empty as they ask for 40 million shares to be handed out to people that have good paying jobs. If my math is correct that would be enough to fund SRNE for 1.5 months, half of a quarter. How many shares are left to fund the company, 250 -300 million shares? Enough to get the company through 1st Q in 2023?
Maybe I missed an approval while I was away.
Hey old buddy, is this a reprint from 2021?
A huge majority of people here in the good old USA have no realization that we have been and are in a Fentanyl war with China. Just as the Britian-China opium war it is as real as it gets. Twice as many deaths from fentanyl in one year as in the Vietnam war in 10+.
I'm not worried about the terrorists I am very concerned about the operatives that have poured over the border from China, Russia, North Korea and Iran in the past 18 months. There is one other thing... weapons of mass destruction have come across the border and God help us if they are employed as millions could die. Outside of that how was the play?
Oh yea, the 75,000 IRS agents. Obama finally is getting his national police force. Virtually all taxes can be collected more efficiently at the point of sale with 10,000 or less agents in the IRS. Congress will never do it.
Make that a Trillion in interest payments. I can't believe this is all by accident and incompetence.
Yea, I bought more and watching to see where it goes with the continuing mess in WDC that is way out of control. heading towards a billion in interest payment alone at this rate. One thing for sure is the FED will keep layering on into 2023.
will money come from arbitration and what will be let after lawyer fees and taxes. whatever it is divided by the OS and that will be a bump. Why did Dr. Ji buy 150k+ shares...a mystery to e unraveled.
Hi Andecker, my concern is capital to continue operations. Sorrento is burning through it like a California wildfire. with 750 million shares in the AS Sorrento is down to somewhere near 260 million shares. At a burn rate of 70 - 80 million shares a quarter that leaves 3 quarters until the barrel is dry. At the end of the first quarter 2023, we will not know results until May and by then another 50 million shares will be sold. At that point Sorento will have to consider its options. There is stock in companies they hold that can be sold but the value of those holdings at that time is unknown.
With the falling market IPO's are in doubt and SPAC's are almost unthinkable especially when investing $140 million in a company that might do $100 million in a year. Sorrento needs a "win" and then production and then revenue. To do that they need production equipment and time. Do they have that time is the question.
An RS is a definite possibility, an FDA approval seems too far out, SEMDEXA if approved could open doors with BP in other studies, the arbitration could extend the clock, Mpro could be the Hail Mary pass that wins the game... lots of balls in the air but time is not our friend.
They took it down.
The question is will this be above or below $1 after 11/04 3rd quarter. 250million shares to go and you know they will not let it get to zero before they act.
Maybe we only have two quarters to go.