waiting for the other foot to fall
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In petri dishes with animal cells...
"1499 could be testing in humans any day now." animal trials first, then humans...
not so much shorted - yes it was - but heavilly diluted: https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14097361&RcvdDate=4/27/2020&CoName=SORRENTO%20THERAPEUTICS,%20INC.&FormType=424B5&View=html
funding came in the first pump.
On the other hand, I can't say they are too broke to stay open, so there is that good news. As long as the insider trade this morning was from outside the company, it might be a good buy in the low $3's for a long term spec play.
After selling 50M+ shares into the float, it just isn't a good MOMO play anymore...
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14097361&RcvdDate=4/27/2020&CoName=SORRENTO%20THERAPEUTICS,%20INC.&FormType=424B5&View=html
with all the shares the company dumped into the first news last month this cannot move on the kinds of volume anything short of human trials will bring. But, a little more pumping and the July $5 puts will be attractive again to add more.
Looks like only another Fox News interview will help.
not subscribed to benzinga, so couldn't read it.
In any case, the person that dropped $2M 10 minutes before news can expect an SEC query. That was not just lucky timing.
Add potential insider trading to the list of problems plaguing this company.
Buying opp for more puts is all.
and there it is, recycled news after a half million share buy
June 5, 2020 09:07 AM ET (BZ Newswire) -- News
-Reuters
Copyright © 2020 Benzinga (BZ Newswire, http://www.benzinga.com/licensing). Benzinga does not provide investmentadvice. All rights reserved. Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga Pro (http://pro.benzinga.com).
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
now that half million shares was a better paint job.If there is news this AM they will probably get a call from the SEC...
sad to see that the stock is affecting you so. The reality is there was more volume in almost any minute yesterday than there was between close and now. Someone whacked the thin off-hours asks to walk it up trying to create momentum.
Pathetic attempt to paint the tape.
wow. good due diligence.
there was a $2M bid at $3.95 through ARCA.
That is insane, if for no other reason than that they clearly could buy lower.
Selling pressure blew through $600K of it before the retail buyers bid it over $4. That volume has ebbed and we'll be chewing up more of ARCA's client soon.
he started out with the correct read of the chart but said "I am not saying it will do this" and then talked about how it could recover, which the charts do not realistically support.
$3.90 and falling premarket. support at $3.50 (December), $3.05+/- (pre-pump frontloaders) and at $2.65 (April), But this could revisit November and March $1.50's!
how will you feel in the 3's tomorrow? Volume came on a sell off and the large bids went away...
people wanted volume...
Makes you wonder if legal counsel suggested less hype would be wise... News happens when results occur, not when traders need a pump.
But they clearly said a longer time to discuss trials, then they need cash reserves. You do you, but anyone believing your hype is taking a huge leap of faith that the facts, so far, do not support.
antibody vs. antibody
in human trials vs asking for guidance in setting up human trials
cash rich mega corp vs cash-strapped development corp.
I am not saying SRNE will not get to market. I am saying they will not get there first.
Another post said they had nothing to do with each other but they are identical in principle. They announced one antibody in their cocktail. If they have two, great. Finding a third further delays start of trials, but again that speaks to timing.
I have been saying this needs a substantial financing just to start a trial. I have been saying the stock is under hype promotion in disregard of facts to support that financing. The reality is not bad here, but it is not capable of living up to the hype.
That said, i have seen $100K bids stacked up when it gets a bit under $5, so I guess there is a vested interest in keeping this at or over $5.
and they are already in human trials putting them way ahead of Sorrento on the timeline.
Identical in principle, despite what the hypesters say.
recent news said that IF it cost less because Remdesivir is a stake in the ground on pricing. Remdesivir is only given to those already infected, not preventively.
It's like the old dot com days wehn flip phone retail prices were high and volume projections were high so analysts just assumed the high prices would maintain at the high volumes. In fact, the high volumes were from wireless companies (read insurance companies here) paying steeply discounted prices.
This is not about Mt Sinai or the company. It is about 50% chance of approval of a cocktail when there may be less than 50% chance of rounding out the cocktail in that timeframe.
Full court pump...
First, it is an antibody cocktail, but they have identified ONE antibody.
Second, a 50% probability of success on a product might apply going into human trials, but not yet.
Share price target of implies a near five-fold gain on expected successful development of antibody cocktail
Shares of Sorrento Therapeutics Inc. rallied Tuesday, after a Wall Street analyst suggested the biopharmaceutical company was a good bet to successfully develop an "antibody cocktail" that could shield people from the COVID-19 virus.
The stock(SRNE) rose 3.0% in active afternoon trading Tuesday. Trading volume was 52.0 million shares, which exceeded the full-day average of about 41.1 million shares.
The gain follows a hectic week of trading, that followed up the 158% blast off on massive volume of 507.6 million shares on May 15 after the company provided an upbeat assessment (http://www.marketwatch.com/story/sorrento- therapeutics-stock-soars-on-massive-volume-after-upbeat-report-on-covid-19-antibody-experiment-2020-05-15) of the results of a preclinical experiment of its COVID-19 virus antibody, STI-1499.
The San Diego -based company said that STI-1499 demonstrated complete inhibition of SARS-CoV-2 virus infection in an in vitro virus infection experiment at a "very low antibody concentration." Sorrento reiterated that it aims to generate an "antibody cocktail" product (http://www.marketwatch.com/story/sorrentos-stock-jumps-on-antibody-plans-with-mount-sinai- health-system-2020-05-08) that could act as a "protective shield" against coronavirus infection.
Analyst Jason Kolbert at Dawson James Securities initiated coverage of Sorrento with a buy rating, which for Dawson James means the stock is expected to produce a total return of at least 20% over the next 12 to 18 months.
But Kolbert expects a lot more than that, as he set a stock price target of $24 .
He suggested the stock is a good bet for investors, as he assumes the company will successfully develop the "COVI- SHIELD" antibody cocktail that it aims to produce.
"We apply a probability of success of just 50%, but given the size of the indication, the valuation potential for COVID alone is large," Kolbert wrote in a note to clients.
His view also includes the company's assertion that it can produce up to 200,000 does a month, with management saying it believes it can produce tens of millions of doses in a short period.
The company has said it has determined that STI-1499 will likely be the first antibody in the COVI-SHIELD cocktail that it is developing, and could also be developed as a stand-alone therapy--COVI-GUARD-- given the high potency it has exhibited.
Sorrento has said it plans to request priority evaluation and accelerated review from regulators.
The stock has now run up 55% year to date, while the iShares Nasdaq Biotechnology exchange-traded fund(IBB) has gained 10.4% and the S&P 500 index has lost 6.8%.
- Tomi Kilgore ; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
05-26-20 1437ET
Copyright (c) 2020 Dow Jones & Company, Inc.
I highly doubt there are naked shorts
I am not picking on them. I have no issue with foreign investment. Actually I have an issue with the administration, but my point would still remain that is how the administration will see them.
It was posted here that most of the big investors of both companies are from Hong Kong and Beijing. That post also mentioned a Korean fund.
I made no reference to management.
When you get a vaccine it is stimulating your white blood cells (B-cells) to mass produce an antibody as opposed to directly adding prefabricated antibodies to the blood stream.
Vaccines leave behind a stimulated clone of B-cells that divide and multiply and continue to create antibodies for years - potentially for life. This is immunity. The B cells continue forever even though the antibodies that produce last for months.
Antibody inoculation just dumps in antibodies that last for months.
Most of the antibodies are immunoglobulin-G (IgG) which is a Y-shaped molecule (protein) with the stem of the Y initially stuck in the cell wall of the B-cell that made it. The stem, the hinge of the Y, and most of the arm are virtually identical in humans and see little change across most mammals. The ends of the two identical arms are hyper-variable and the body has a wide variety of random protein sequences here - making a wide variety of antibodies.
Sometimes another antibody in the blood stream will react with a slightly different protein surface of the inoculated antibodies and they will be destroyed - quickly or slowly. Sometimes an enzyme will digest them. These are not fast, targeted reactions, but rather the random reactions that occur all the time in complex systems. The length of time the innoculation will remain in the blood stream will vary person to person.
it says all it needs to that an antivaxer would inject the result of a vaccination... same thimeresol or other preservatives and all...
good luck getting Trump admin money as a Chinese owned company...
you can see what the site has, but I promise you there are plenty of OTC companies where the info is dead wrong.
CEO admitted in most recent interview, possibly quarterly. I think it was 30-50mg per dose. While some targeted mAb (anti-cancer for instance) probably do run in thousands of dollars, if there is a viable B cell clone that produces them in bulk it need not be that expensive. Still, I suspect your point is correct - if there is an approved cure, it will be over-priced.
when they publish number of tests that 100% succeed, then you have a statement. 100% of every (one) screening test is a reason to do a statistically significant set of tests thouh. I am not bashing the stock. I am near term pessimistic and I do say last week was a pump and dump - corporate ro just friends of employees...
next filing will be shares as of the date at the end of the period being reported. That is why so many financings happen just as filings are coming out.
no, they can stay short as long as they want.
shorts cannot ruin a company unless they make stuff up or physically sabotage it. A CEO ruins a company.