Sorrento Therapeutics Inc (SRNE)

[PHAN]

The Brian Sun announcement makes little sense on the surface. He joins another cancer company with an outstanding small cell candidate, Repotrectnib. It has FDA Breakthrough Therapy and Fast Track designations. Turning Point has 50 employees including Annette North, the Executive Vice President and General Counsel. In the normal pecking order, Brian, a Senior VP would be answering to Annette who is heavily vested in TPTX stock options. There are no announcements about Brian or Annette resigning from their current positions.

Major investors in both companies include Vanguard, Blackrock and most recently, Norges Bank.

This move goes into effect on Monday, April 11th. Should be interesting when the smoke clears.