Sorrento Therapeutics Inc (SRNE)

[dia76ca]

Wainright analyst Selvaraji assigns Sorrento a $26 price target - about 400% above current prices! HOWEVER an article reminds us that "...Selvaraju reminds investors that his valuation assessment “does not factor in any contribution” from Sorrento's Covid-19 therapeutics pipeline. These could drive “meaningful upside” to Selvaraju’s forecasts.

The company is currently running several studies testing Covid-19 solutions. These include “multiple” Phase 2 trials in the U.S. and U.K. for COVIDROPS, Sorrento’s intranasal formulation of neutralizing antibody COVI-AMG. Sorrento intends to apply for Emergency Use Authorization (EUA) in several countries, should results prove positive.

There is also COVI-MSC, a proprietary preparation of mesenchymal stem cells (MSCs), earmarked to begin a randomized, controlled clinical study. This drug could also “qualify” for an EUA before the end of the year, dependent on a positive outcome in the study. COVI-MSC is also undergoing Phase 2 testing in Brazil, for which patient enrollment began last month. The coming months should also see the release of top-line data from two Phase 2 trials of abivertinib, a Bruton's tyrosine kinase (Btk) inhibitor being assessed for the treatment of hospitalized COVID-19-infected patients."

COVIDROPS, COVI-AMG, COVI-MSC and ABIVERTINIB (COVID) aren't assigned ANY VALUE? How about another $100 !