Tuesday, March 06, 2018 6:29:04 AM
As I noted earlier, the initial pullback in SRNE on Thursday was likely due to some profit taking. The stock has gained more than 340% in the last six months, so it is not surprising that some investors chose to cash out as the event played out. However, I must add that cashing out at this stage does not make much sense considering that much of the upside in SRNE has not yet been captured. Moreover, as the sell-off worsened in later part of the day, SRNE is now very attractively valued. Consider this, the company has an approved drug with a blockbuster potential but market capitalization of just under $650 million. Given Sorrento's current cash position and the fact that it now has an approved product, there is dilution risk as the company seeks to commercialize ZTlido. However, even after taking that risk into account, the sell-off does not look justified. Furthermore, the company also has an attractive pipeline. I believe the huge sell-off has not just made Sorrento an attractive proposition from an investment perspective but also from a buyout perspective.
more at: https://seekingalpha.com/article/4153268-sorrento-sell-presents-buying-opportunity
Opti
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Recent SRNE News
- Form 8-K - Current report • Edgar (US Regulatory) • 11/03/2023 09:31:06 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/27/2023 08:15:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/13/2023 01:51:06 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/28/2023 09:25:07 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/07/2023 08:15:35 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/01/2023 10:01:54 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/13/2023 10:26:26 AM
- Shanghai Escugen Biotechnology Co., Ltd., a partner of Levena Biopharma, a Sorrento Company, releases positive results from a first-in-human study of ESG401, a TROP2 Antibody Drug Conjugate in patients with locally advanced/metastatic solid tumors at the A • GlobeNewswire Inc. • 06/05/2023 01:00:00 PM
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