BOB says tons of money coming and a buyback of shares along with a faster path for Ji to reach the $17 Bonus level. Uh-huh, okie dokie, yup, you bet...
There has to be a RS, which Sorrento has done in the past, and most likely has the SEC doc at the ready. So that happens and then what, Ji sells more stock, it is shorted down once again.
The problem I see is that SP-102 has data for a year and has never applied for the NDA; why?
The data is suspect, or so I believe and indications are that another P3 with a different mechanolatry has to be performed. Several years before approval if approval comes. Mpro, P1 in China with results was described on January 9, 2023 at 9:00 AM EST in a release by Sorrento within which they stated "After communication with the regulatory agency, a Phase 3 protocol was submitted to China NMPA. The Phase 3 trial (MPR-COV-301CN) is entitled: “A Multicenter, Randomized, Double-Blind, Placebo-Controlled, Phase III Study to Assess the Efficacy and Safety of STI-1558 for Treatment of Mild and Moderate Symptomatic Adults Infected with SARS-CoV-2”. Once cleared by NMPA, the study, which plans to enroll 1200 COVID-19 patients, will be subsequently commenced."
On Jun 26, 2023 Sorrento reported that Top line data is anticipated in the third quarter of this year. If the trial meets its endpoints... it is the second month of the 3rd Quarter. China is a mess and Covid is still an issue so something new to offer the population that would be calming is a real possibility.
In the meantime Sorrento will sell off parts (kidneys, Lungs, blood, ugly stepchildren) that will get them through. Delay is the hope.
We should see something soon one way or the other from China but C11 exit is months away and how they exit is the question.
