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Tuesday, May 18, 2021 12:58:30 PM
What did I like about Sorrento? I liked RTX for intractable cancer pain. But I especially liked Sorrento's CAR-T, DAR-T and combination cancer treatment potential. Sorrento's acquisition of SmartPharm, ADNAB and ACEA have been pleasant surprises. The cancer portfolio is now world-class! I now can see 15-20 new cancer drugs entering the clinic each year.
I don't underestimate the importance of the pain portfolio! RTX against cancer and arthritic pain is huge! And SP-102 should certainly be a near-term blockbuster.
But those who write off the Covid portfolio are mistaken IMO. I take a worldwide view. Look at India, South America, Africa and the 40% of Americans who aren't vaccinated. And no vaccine is 100% effective and variants are arising every day. Many of Sorrento's technologies are in phase 2 and close to EUA approval IMO. They have 11 shots on the Covid goal...more than any other biotech in the world.
And I am amazed at Sorrento's financial strength! The PSS lawsuit looks good! But the very wise investments in Celularity, IBRX and several other smaller plays are worth hundreds of millions to finance corporate growth into the future. And partnership upfront , milestone and royalty payments will grow steadily. A strong portfolio with strong finances. A year from now I expect a dramatically higher share price!
"The refusal of the real is the number one dogma of our time" Rene Girard
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