Sorrento Therapeutics Inc (SRNE)

[bombaytonic]

The bear argument for Sorrento is officially dead. Who cares about a little dilution when done to strengthen the business - if they did move forward with full offering maybe they added 50-60M to the OS. That’s nothing especially when looking at a $5-10B+ valuation. They just paid off $120M in debt. Maybe they sold Cellularity to fund their trials and pay off debt or maybe not. Either way, they have cash, less debt, and a great pipeline. We all know the lawsuit is frivolous and no matter what it will take 3-5 years to come to fruition. So, every argument the bears had is shot to hell. It’s all done. There is nothing but upside here especially as the door for the massive amount of short interest to cover gets smaller and smaller. It will take a little bit for that mindset to change but once it does, and larger players like Hindenburg throw in the towel, thus will run toward $20 no doubt in my mind. Have patience and let it play out - it’s coming.