9,90+0,86 (+9,48 %)

Long time Sorrento fan, H.C. Wainwright’s Ram Selvaraju notes the company’s “multiple advances on the Covid-19 front.”

The analyst has a Buy rating for the shares and a $30 price target, indicating huge potential upside of 200%.

Interestingly, however, Selvaraju reminds investors that this assessment “does not factor in any contribution from Sorrento’s COVID-19 therapeutics pipeline, which could—if successfully developed and launched—drive meaningful upside to our forecasts.”

https://www.tipranks.com/news/article/sorrento-is-firing-on-all-cylinders/

Respondido por: @csebas

Long time Sorrento fan, H.C. Wainwright’s Ram Selvaraju notes the company’s “multiple advances on the Covid-19 front.”

The analyst has a Buy rating for the shares and a $30 price target, indicating huge potential upside of 200%.

Interestingly, however, Selvaraju reminds investors that this assessment “does not factor in any contribution from Sorrento’s COVID-19 therapeutics pipeline, which could—if successfully developed and launched—drive meaningful upside to our forecasts.”

 

https://www.tipranks.com/news/article/sorrento-is-firing-on-all-cylinders/

Fanático de Sorrento desde hace mucho tiempo, H.C. Ram Selvaraju de Wainwright señala los "múltiples avances de la compañía en el frente de Covid-19".

El analista tiene una calificación de Compra para las acciones y un precio objetivo de $ 30, lo que indica un enorme potencial alcista del 200%.

Curiosamente, sin embargo, Selvaraju recuerda a los inversores que esta evaluación "no tiene en cuenta ninguna contribución de la cartera de productos terapéuticos COVID-19 de Sorrento, que podría, si se desarrolla y lanza con éxito, impulsar significativamente nuestras previsiones".

El creciente número de nuevos casos de COVID-19 podría hacer que los inversores anticipen una fuerte demanda para la prueba de 15 minutos de la compañía.Las acciones de Sorrento Therapeutics (NASDAQ: SRNE) aumentaron un 10,3% a las 2:02 p.m.

SRNE10.761.07 (11.04%)

La osteoartritis es una enfermedad degenerativa de las articulaciones que afecta a millones de personas en todo el mundo y, según Wiseguy Research, es un mercado que podría valer más de $ 10 mil millones para 2025.

Sorrento Therapeutics (SRNE) ha estado considerando esta oportunidad y ahora está un paso más cerca de lograr que su candidato para la osteoartritis atraviese la lucrativa puerta.

El martes, Sorrento anunció que la FDA dio luz verde a la compañía para comenzar las pruebas de fase 2 de su candidato para el manejo del dolor resiniferatoxina (RTX) para el tratamiento de la osteoartritis de rodilla moderada a severa (OAK).

El estudio de fase 2 evaluará la eficacia y el perfil de seguridad del fármaco en varias cohortes de dosis de RTX. El primer estudio de fase 2 consistirá en determinar la dosis recomendada de fase 3.

La prueba de etapa intermedia sigue a un exitoso estudio de Fase 1b, que mostró que después de 12 semanas, el rendimiento de RTX superó lo que normalmente se considera suficiente para respaldar la aprobación regulatoria.

Debido al éxito en la etapa inicial, Sorrento probará RTX contra un comparador activo (corticosteroide inyectable) y si RTX muestra que es más efectivo que un medicamento de uso común, podría resultar en registros internacionales acelerados.

H.C. Ram Selvaraju de Wainwright ha estado siguiendo el progreso del tratamiento y cree que RTX tiene potencial debido a varias razones, que incluyen: “(1) evidencia de que es eficaz incluso en el contexto de dolor intratable, que es impermeable al tratamiento con el estándar de atención existente drogas; (2) su rápida aparición así como su impacto clínico sostenido, con una duración del efecto medible en meses; y (3) el hecho de que RTX, a diferencia de las terapias aprobadas más efectivas disponibles para el manejo del dolor en la actualidad, no es un agente a base de opioides, lo que alivia las preocupaciones sobre adicción y abuso ”.

El analista también cree que RTX podría tratar "múltiples indicaciones de dolor más allá de OAK". Selvaraju cree que RTX podría ingresar a las pruebas de Fase 3 en 2022 con una posible lectura de datos de primera línea para fines de 2023.

Entonces, buenas noticias para Sorrento y posiblemente para los pacientes de OAK, pero ¿cuál es la implicación para los inversores? Selvaraju reiteró una compra en las acciones de SRNE, mientras que su precio objetivo de $ 30 implica que la acción podría avanzar un 216% durante los próximos 12 meses. (Para ver el historial de Selvaraju, haga clic aquí)

Ningún otro analista ha actualizado recientemente sus modelos SRNE, dejando la revisión de Selvaraju como la única registrada. (Ver análisis de acciones de SRNE en TipRanks)

Summary

• Serial deal maker Sorrento Therapeutics, Inc. has amassed a significant pipeline of immuno-oncology, pain management, and Covid-19 assets.
• The plethora of programs combined with its communication almost exclusively through press release renders it challenging to determine the company’s priorities.
• With enthusiastic support from Street analysts, Sorrento merited a deeper dive.
• A full investment analysis and covered call recommendation follow in the paragraphs below.

To see what is in front of one’s nose needs a constant struggle.”― George Orwell

Today, we are taking yet another look at a name I have had a 'rinse, wash, and repeat' covered call strategy around for more than a year now that has been quite successful. We have posted a piece around this play on this stock both in May of last year and then again in January of this year. The call strikes recommended expired in mid-June, so it is time to go back to the well once again. A full analysis and recommendation follows below.

Company Overview:

Sorrento Therapeutics, Inc. (SRNE) is a San Diego-based, antibody-centric, commercial-stage biopharmaceutical concern focused on developing therapies for a wide spectrum of diseases, including immuno-oncological, inflammatory, viral, and neurodegenerative. The company owns one commercial pain management asset, three mid-to-late-stage candidates, and dozens of early-stage and preclinical aspirants. Sorrento was formed in 2006 as San Diego Antibody Company and went public with its present moniker in 2009, when it reverse-merged into shell company QuikByte Software. Its highly volatile stock did not trade in any meaningful capacity until it was up-listed from the OTC Bulletin Board to NASDAQ in October 2013 with shares of SRNE first exchanging hands at $8.50. Sorrento currently trades just below $8.00 a share, translating to a market cap of $2.3 billion.

 

Source: May Company Presentation

Commercial Product and Other Pain Management Assets

ZTlido. The company’s one commercial product is ZTlido, a lidocaine topical system approved for chronic neuropathic pain syndrome following a bout of shingles known as post-herpetic neuralgia. It was approved by the FDA in 2018 and came as part of Sorrento’s acquisition of a majority stake in drug delivery concern Scilex Pharma in 2016. The company just received label expansion approval for ZTlido on April 9, 2021, permitting its use while the patient is exposed to (or immersed in) water, providing it an edge over hydrogel-based therapies. Until now, revenue from ZTlido has been tepid, generating $26.3 million in FY20 after producing $21 million in its first full commercial year.

Source: May Company Presentation

SP-103. Sorrento is also advancing a turbo version of ZTlido called SP-103. It employs the same delivery system as its approved predecessor but carries three times the drug load. Since all current uses of topical lidocaine products for lower back pain – which also employ one-third or less the drug load of SP-103 – are prescribed off-label, an approval for a broad lower back indication could provide substantial revenue, but that time is a way off as the company anticipates initiating a Phase 2 trial in 2H21.

 

Resiniferatoxin. A further advanced pain-management compound is resiniferatoxin [RTX], a potent TRPV1 agonist that can desensitize TRPV1-expressing nerve endings, resulting in a sustained reduction of chronic pain. RTX is undergoing evaluation in two Phase 1b studies for the treatment of intractable pain in advanced cancer with an eye on a Phase 2/3 study sometime in 2021. Sorrento is also expecting results from another Phase 1b trial in severe knee osteoarthritis that initiated in 2018 with an expectation of a Phase 2 proof-of-concept trial to follow. So far, efficacy has been promising with significant pain improvement lasting more than six months in the knee study. The FDA just gave the green light last week to start a Phase 2 clinical study of RTX in the treatment of moderate-to-severe osteoarthritis of the knee.

Source: May Company Presentation

SEMDEXA. Another drug delivery system for pain management under development is SEMDEXA (SP-102), an injectable viscous gel formulation of a widely used corticosteroid for the treatment of sciatica. This very painful pathology of the lower back is currently treated with off-label epidural steroid injections, administered over 10 million times in the U.S. annually. Results from a pivotal Phase 3 study are anticipated in 2H21. SEMDEXA has received Fast Track Therapy status from the FDA and if the Phase 3 trial is a success, Sorrento will also apply for a Breakthrough Therapy designation.

Immuno-Oncology Assets:

The company also houses a significant number of platforms for fighting cancer, including its G-MAB library of more than 20 quadrillion distinct antibody sequences, chimeric antigen receptor T-cell (CAR-T) and dimeric antigen receptor T-cell (DAR-T) immuno-therapies, antibody-drug conjugates, as well as bispecific antibody compounds. None of these assets are beyond preclinical or early clinical stage studies in the U.S., but several are being evaluated in later-stage trials in Asia.

 

Source: May Company Presentation

The most advanced is abivertinib, an oral tyrosine kinase inhibitor that targets mutant forms of the epidermal growth factor receptor (EGFR) as well as Bruton’s tyrosine kinase. It has undergone evaluation in a Phase 3 study for the treatment of non-small cell lung cancer (NSCLC) in China – results unknown – and is currently under review by the China FDA for the treatment of patients with NSCLC containing the EGFR T790M mutation. It was recently assumed as part of Sorrento’s acquisition of ACEA Therapeutics.

Source: May Company Presentation

Sorrento characterized the overall response rate in the study as “promising”. On one hand, the $38 million of stock that Sorrento paid for ACEA (and $450 million of potential milestones plus five to ten percent royalties) suggests that the acquiree is not as completely sold on the promising nature of abivertinib or the balance of its pipeline. On the other hand, Sorrento maybe perpetrating a tremendous heist using relatively small dilution and no balance sheet cash – only time will tell.

Two of Sorrento’s anti-PD-L1 monoclonal antibodies (mAbs) from its G-MAB library are under evaluation in two separate studies. One is STI-3031 (a.k.a. IMC-001), which is being assessed in a Phase 2 open-label South Korean study in patients with operable gastric cancer, as well as esophageal and liver cancers. According to the company, the trial is nearing completion. STI-3031 has been cleared to proceed with a Phase 2a study in the U.S. for advanced urothelial carcinoma. The second mAb, socazolimab, has been cleared for a Phase 3 trial as a first-line treatment for late-stage small-cell lung cancer in China, but an initiation date has not been forwarded.

 

 

Covid-19 Pursuits:

Returning to abivertinib, owing to its ability to inhibit key pro-inflammatory cytokine production, it may also have applications treating Covid-19. As such, it is undergoing evaluation in a Phase 1b/2 study in the U.S. for the treatment of acute respiratory distress syndrome [ARDS] in critical Covid-19 patients and will initiate a similar, yet larger study in Brazil. The company is also pursuing COVI-MSC (human allogeneic adipose-derived mesenchymal stem cells) as a treatment for ARDS. On April 20, 2021, Sorrento announced that COVI-MSC had successfully treated ten patients in a Phase 1b trial, with all ten discharged from the hospital within three days of their final dosage. The company expects to huddle with the FDA to discuss next steps.

Source: May Company Presentation

Abivertinib and COVI-MSC are just two of eleven programs Sorrento is developing for the treatment, prevention, or evaluation of Covid-19. The company has submitted an emergency use authorization (EUA) application for one antigen test (COVISTIX) and expects to for another (diagnostic test COVITRACE), but all other treatments besides abivertinib and COVI-MSC are early-to-mid stage. And with vaccinations available in most of the potentially lucrative markets around the world, it is difficult to envision this aggressive pursuit of the Covid-19 indication bearing much fruit.

 

Source: May Company Presentation

Sorrento: A Serial Acquirer

The prior summary only scratches the surface of Sorrento’s pipeline. Many of the company’s clinical programs have come via the fourteen acquisitions or joint ventures that it has executed since 2013. As such, Sorrento appears a serial hoarder, or worse yet, a six-year-old child who wants the newest and greatest jigsaw puzzle, only to move on to the next one before completing the prior one. The company is also long on press releases but short on details that don’t imbue the would-be investor with a ton of confidence. For example, the ACEA acquisition did not detail the results of the completed Phase 3 NSCLC trial for abivertinib, only that the compound is under review by the China FDA. Exacerbating this issue is the fact that besides a random investor conference, Sorrento doesn’t communicate with the Street via quarterly conference calls, leaving many to guess as to management’s priorities, or to speculate that it is unfocused, disorganized, or may have something to hide. Either way, management’s efforts have netted investors an accumulated deficit of $955.8 million through March 31, 2021.

Source: May Company Presentation

Balance Sheet & Analyst Commentary

The company exited 1Q21 with cash of $41.7 million and an 8.19 million share position in ImmunityBio (IBRX) valued at $118.3 million at the close of business on June 15, 2021. It also held debt of $100.7 million, of which $21.7 million is current. The company burned through cash from operating activities of $48.0 million in 2021’s first stanza, meaning it will need to return to the capital markets in the next nine months short of a commercial collaboration for one of its assets.

Despite its seemingly peripatetic approach, Sorrento has a small yet very enthusiastic legion of support from Street analysts, who feature four buy ratings and a median twelve-month price target of $28, implying a triple from current price levels.

 

Verdict:

The company also enjoys much support from very bullish investors who see great potential from its substantial pipeline. It also has detractors, who view its serial deal-making as a sign of little confidence in its current pipeline, represented by short interest equal to 19% of the float. Irrespective of what side of the fence one sits, the lack of quarterly conference calls, which are substituted with a constant stream of press releases – many relating to Covid-19 – increases the stock’s volatility.

Shares of SRNE have oscillated wildly between $1.59 and $19.39 over the past 18 months but trade almost exactly where they did five years ago. This extreme movement is reflected in Sorrento options’ premiums which have great liquidity, which continue to make it a more than solid buy-write candidate. I personally like the March $8 call strikes right here that are selling for $2.20 to $2.30 apiece at the time of submission of this article and have very solid liquidity as well.

When men are pure, laws are useless; when men are corrupt, laws are broken.”― Benjamin Disraeli

Bret Jensen is the Founder of and authors articles for the Biotech Forum, Busted IPO Forum, and Insiders Forum

Sorrento Announces Dosing of COVID-19 Patients in Phase 2 Clinical Trial for COVIDROPS, a Highly Potent Neutralizing Antibody Against SARS-CoV-2 Including Delta and Alpha Variants of Concern, in an At-Home Outpatient Setting in United Kingdom

https://www.globenewswire.com/news-release/2021/07/21/2266574/0/en/Sorrento-Announces-Dosing-of-COVID-19-Patients-in-Phase-2-Clinical-Trial-for-COVIDROPS-a-Highly-Potent-Neutralizing-Antibody-Against-SARS-CoV-2-Including-Delta-and-Alpha-Variants-o.html

SAN DIEGO, 21 de julio de 2021 (GLOBE NEWSWIRE) - Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") anunció hoy su socio Escugen Biotechnology Co, Ltd. ("Escugen") y la subsidiaria de Sorrento, Levena (Suzhou) Biopharma Co., Ltd. ("Levena") ha recibido una carta de aprobación del Centro de Evaluación de Medicamentos (CDE) de la Administración Nacional de Productos Médicos (NMPA) para su Solicitud de Ensayo Clínico (Aceptación No. CXSL2101069) de Anti- Conjugado Trop2 Mab-SN38.

El ADC TROP-2 (ESG-401) fue desarrollado conjuntamente por Escugen y Levena, con sede en Shanghai, y las dos empresas poseen conjuntamente las patentes nacionales e internacionales de este ADC y comparten los derechos globales del producto.

ESG-401 tiene ventajas diferenciadoras potencialmente distintas sobre sus competidores en términos de seguridad, eficacia y solidez del proceso. Utilizando un enlazador innovador, altamente estable y escindible, este ADC demostró en una serie de estudios preclínicos que libera muy poca toxina libre durante la circulación, se enriquece mucho en los tejidos tumorales y rápidamente endocitosis, matando así eficazmente las células tumorales e inhibiendo el crecimiento tumoral. En los estudios preclínicos, ESG-401 demostró una excelente seguridad, sin que se observara toxicidad fuera del objetivo o fuera del tumor en esos primates no humanos administrados repetidamente en dosis altas. Además, ESG-401 mostró una actividad antitumoral significativa en una variedad de modelos tumorales que expresan TROP-2, con una dosis efectiva baja y un tiempo de inhibición prolongado sobre el crecimiento tumoral. ESG-401 potencialmente aborda una necesidad altamente insatisfecha para el tratamiento de múltiples tumores sólidos, incluido el cáncer de mama triple negativo y el carcinoma urotelial.

Sorrento tiene la intención de presentar un IND de EE. UU. Para este ESG-401 antes de fin de año.

Sorrento Therapeutics with ticker code (SRNE) have now 2 analysts in total covering the stock. The consensus rating is ‘Buy’. The target price ranges between 30 and 21 with a mean TP of 25.5. Now with the previous closing price of 7.61 this indicates there is a potential upside of 235.1%. The 50 day moving average now sits at 7.26 and the 200 day moving average is 8.22. The company has a market cap of $1,976m. You can visit the company’s website by visiting: http://www.sorrentotherapeutics.com

Sorrento Therapeutics, a clinical stage biopharma company, develops therapies for cancer, autoimmune, inflammatory, and neurodegenerative diseases. It operates through two segments, Sorrento Therapeutics and Scilex. The company provides cancer therapeutics by leveraging its proprietary G-MAB antibody library and targeted delivery modalities, which include chimeric antigen receptor T-cell therapy (CAR-T), dimeric antigen receptor T-cell therapy, and antibody drug conjugates, as well as bispecific antibody approaches. It also offers Sofusa, a drug delivery technology that delivers biologics directly into the lymphatic system. In addition, the company’s clinical programs in development include anti-CD38 CAR-T therapy for the treatment of multiple myeloma, as well as for amyloidosis and graft-versus-host diseases. Further, it develops resiniferatoxin, a non-opioid-based TRPV1 agonist neurotoxin for late stage cancer and osteoarthritis knee pain treatment; and ZTlido, a lidocaine delivery system for the treatment of postherpetic neuralgia. Additionally, the company engages in the development of SEMDEXA, an injectable viscous gel formulation, which is Phase III trial for the treatment of sciatica, a pathology of low back pain; and SP-103, an investigational non-aqueous lidocaine topical system undergoing clinical development in chronic low back pain conditions. It has various collaborations with SmartPharm Therapeutics Inc. to develop gene-encoded antibody vaccine to protect against COVID-19; Celularity for initiating Phase I/II clinical study, including up to 86 patients with COVID-19; and Mount Sinai Health System to develop COVI-SHIELD, an antibody therapy targeting SARS-CoV-2 infection, as well as a research testing agreement with The University of Texas Medical Branch at Galveston for the preclinical testing of Sorrento’s COVID-19 therapeutic product candidates. The company was founded in 2006 and is based in San Diego, California.

Sorrento Therapeutics (SRNE -0,2%) ha celebrado un acuerdo de opción con el Sistema Universitario Texas A&M por los derechos exclusivos de la propiedad intelectual que cubren los inhibidores de la proteasa principal altamente potentes ((MPro)) contra el SARS-CoV-2.

Según los términos del acuerdo, Sorrento tiene una opción exclusiva para otorgar licencias exclusivas a las patentes que cubren los candidatos a fármacos inhibidores de MPro.

La compañía tiene la intención de desarrollar el inhibidor principal de MPro en forma de administración oral y como un componente de una terapia de cóctel antiviral para eliminar potencialmente las infecciones por coronavirus actuales y emergentes.

Sorrento dijo que puede ejercer su derecho a celebrar un acuerdo de licencia exclusiva mundial en cualquier momento durante el período de opción.

First Week of January 2024 Options Trading For Sorrento Therapeutics (SRNE)
Stock Options Channel Staff - Tuesday, September 14, 1:06 PM

Investors in Sorrento Therapeutics Inc (SRNE) saw new options begin trading this week, for the January 2024 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 857 days until expiration the newly trading contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the SRNE options chain for the new January 2024 contracts and identified one put and one call contract of particular interest.

The put contract at the $7.00 strike price has a current bid of $2.81. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $7.00, but will also collect the premium, putting the cost basis of the shares at $4.19 (before broker commissions). To an investor already interested in purchasing shares of SRNE, that could represent an attractive alternative to paying $7.92/share today.