Great news, however how about expected revenue or volume. These releases always seem to leave this out however as investors this is exactly what we want to know,,
https://investors.sorrentotherapeutics.com/news-releases/news-release-details/sorrento-therapeutics-mexico-wins-tender-sell-covistix-tests
Let's take a look for one minute. I want you all to put all the pieces together and tell me what you all think?
ENBREL is owned by AMGEN. ENBREL is already FDA approved for reducing signs and symptoms, keeping joint damage from getting worse, and improving physical function in patients with psoriatic arthritis.
SOFUSA owns the rights and the PATENT for DOSE CONNECT for the delivery of the medication.
If you were AMGEN would you want to strike a deal before or after Phase 1 results? Or at least draft an agreement to Acquire SOFUSA?
SOFUSA method of delivery can be used for dozens of different medications.
So on January 6th Mark Enyedy,ย CEO,ย ImmunoGen;ย Henry Ji,ย CEO, Sorrento Therapeutics;ย Rachna Khosla, SVP, BD,ย Amgen;ย Stuart Mackey,ย Global Head, BD,ย Daiichi SankyoModerator:ย Chad Shear, Principal, Fish & Richardson had one nice conference discussing HOW M&A SPURS INNOVATIONย .
INNOVATION? They must mean SOFUSA DOSE CONNECT.
So again DR JI, was networking laying the path for a possible M&A?
Please click on all the links and tell me what you all think?
I think before you start a clinical trial using your drug and someone else's medical device. The contracts for all the possible scenarios are already in place.
https://clinicaltrials.gov/ct2/show/NCT04559412?term=STI-SOFUSA-1003&draw=2&rank=1
http://www.sofusa.com/development/
Like I've been saying the best is yet to come.
https://sorrentotherapeutics.com/research/pipeline/
Nice to see they finally updated and included other items in their pipeline.
Now can anyone explain to me why the price is this low? I mean seriously no institutions or retail investors are selling at this level, so who is?
โSorrento is now able to produce 30 million COVISTIX tests per month and is expanding its U.S. manufacturing capacity. The firm expects that its fully automated U.S. facility will be ready to make 6 million COVISTIX units each month in Q1/22. If the demand worldwide warrants it, the company is making plans to produce over 100 million tests per month in 2022.โ
This gets press when they are ONLY doing preliminary testing in โPetri Dishesโ and โMiceโ yet Sorrento has ACTIVE Phase trials going on right now in HUMANS. I mean seriously, why is it these fringe players can get word out and articles written but the company we have so much faith in cannot? I, like many here, have placed my trust and a large investment into their pipeline drugs and treatments but this should start to upset even the most devoted amongst us. Sorrento needs to start showing some serious effort in the public relations aspects of their company. Iโm perplexed at how an up and coming Bio with real solutions that are in human phase trials at this moment cannot generate this type of coverage and press for themselves, and their investors..
https://gizmodo.com/experimental-nasal-spray-could-provide-temporary-protec-1848334237
Imagine Sorrento selling 15 million tests in mexico than its own country USA!!!
15 million already sold many more to go. It is still December and Covid is only growing.
I am sure over the next year it will grow easily to about 100 million or more. What I am ashamed about is a great company which Mexico & rest of Latin America along with Europe realizes and not USA!!!
As many of you noticed, Sorrento finally updated their website and the pipeline has many new items especially in the cancer space. I checked out the website a bit more and counted 83 open positions!!! That is a lot. Seems like we are growing at a very fast pace.
https://sorrentotherapeutics.com/careers/
The title of this post is a reminder of what this sub is about.
I know most of you are very capable of excellent DD. This sub is filled with posts that are next level and I thank you all for that.
Lately I have been noticing many posts that are, well they are just absolutely terrible. This sub is not a dumping ground for any and all feelings and wild notions you have concerning this investment.
I would ask that you keep content quality and always strive to back your content up with sources especially when applying the DD label.
Looking forward to the rest of 2022! The future of medicine is now, the future is Sorrento Therapeutics!
https://www.marketbeat.com/instant-alerts/nasdaq-srne-consensus-analyst-rating-2022-01-2/
Sorrento Therapeutics Inc. SRNE, 0.31%said Monday that "initial" laboratory testing of its Covistix COVID-19 virus rapid antigen detection test "significantly outperforms" in the detection of the omicron variant. The stock slipped 1.1% in morning trading. The company said Covistix, which is currently approved in Mexico and Brazil and is CE marked in Europe, was able to detect the omicron N protein "at a significantly lower level" than other commercially available tests in a laboratory setting, and in an in-field, real-world study for all-comers showed 20% higher sensitivity compared with a "leading global brand." Sorrento said it is building a new U.S. production facility in San Diego targeting an initial capacity of six million Covistix tests per month. Earlier, the company announced a deal to distribute up to 10 million of its Covistix tests in Mexico, bringing the total number of tests for distribution to 15 million. The stock has tumbled 30.4% over the past three months, while the iShares Biotechnology ETF IBB, -0.80%has lost 8.4% and the S&P 500 SPX, 0.70%has gained 6.9%.
Before she started her employment with Sorrento in December 2020 Ms. Rizzo was a Sr. Director on the Board of Directors of the California Clinical Laboratory Association (CCLA) for 3 years.
An accomplished Executive Leader as head of Quality/Regulatory Affairs, with comprehensive background evaluating a wide variety of projects ensuring conformance to internal and external regulations and quality standards. Known for assembling and cultivating effecient teams and maintaining productive working relationship with Health authorities in the US and internationally and external contract partners, translates to a tenure of successful regulatory submissions across multiple scientific platforms, as well as the creation or improvement of a company's "House of Quality". Recognized for developing, implementing, and training colleagues on Quality Management Systems, as well as performing GxP (GMP, GCP, GLP) audits for FDA-regulated industries, resulting in improved corporate regulatory compliance. Additionally, an expert level understanding and successful track record of guiding teams, as well as hands on preparation, compilation, review and submission of regulatory filings INDs, NDAs, IDEs, and 510(k)s for drugs, biologics, medical devices and Laboratory Developed Tests (LDT), allows for efficient development of new and established technologies and products. Specialties: Board of Pharmacy- Designated Representative License for Wholesaler (for Dangerous Drugs/Devices)
I found this on NewsBreak โ the #1 local news app used by 45+ million people: Researchers develop new method to increase effectiveness of nanomedicines https://share.newsbreak.com/bzdt2117
Implantable Devices For Delivery Of Bioactive Agents
U.S. patent application number 17/391602 was filed with the patent office on 2021-12-30 for implantable devices for delivery of bioactive agents. The applicant listed for this patent is SORRENTO THERAPEUTICS, INC.. Invention is credited to Jeremy Ollerenshaw, Emily Reichart, Russell F. Ross.
IMPLANTABLE DEVICES FOR DELIVERY OF BIOACTIVE AGENTS
Abstract
An implantable delivery device and method for utilizing the device to delivery a bioactive agent to a subject in need thereof is described. The device includes a pattern of structures fabricated on a surface of the device to form a nanotopography. A random or non-random pattern of structures may be fabricated such as a complex pattern including structures of differing sizes and/or shapes. The device may be located adjacent tissue such as an endovascular implant or a perivascular implant, and may deliver the bioactive agent without triggering an immune or foreign body response to the bioactive agent.
Let's take a closer look at this press release yesterday.
Pending US and global demand .
Notice how they say US before global?
Sorrento is also in discussions with multiple US States for incentive packages to further expand its US manufacturing capacity pending strong US and global demand for COVISTIX tests; and
and?
Combining OEM and in-house manufacturing capacities, Sorrento is positioning to provide 30 million COVISTIX tests per month in the near term and expand to 50 to 100 million COVISTIX tests monthly to accommodate accelerating demand globally.
Discussions with multiple US States for incentive packages?
Does everyone remember when the pandemic first started? Every State was on their own to find PPE. Multiple States were out bidding everyone to buy gloves and masks.
COVISTIX maintains its ability to detect the Omicron Variant, in addition to detecting SARS-CoV-2 and all of its major variants of concern (VoCs);
Well now we know COVISTIX maintains it's ability to detect the Omicron.
How about all of the rest of the FDA approved PCR tests?
The $5B shelf was prepared for what going to come next.
Know what you own
Be the main point of contact in supporting M&A transactions including due diligence, valuation, and purchase accounting. This position was listed 22 days ago. Director, Technical Accounting.
WHAT YOUโLL DO:
Responsible for managing Sorrentoโs accounting policies, procedures, and positions on a range of technical accounting topics, including the implementation and compliance with new accounting standards. This role will include maintaining an inventory of position papers and working with the business and accounting team to ensure continued compliance with accounting policies and includes ensuring changes to the business that impact our accounting are addressed timely.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Review accounting policies and procedures that ensure the highest level of operational efficiency for business units, while maintaining appropriate internal controls and compliance with US GAAP.
Lead development of technical memos for accounting matters (e.g., debt refinancing, share-based compensation, revenue recognition of new products, etc.) and oversee annual goodwill impairment testing.
Be the main point of contact in supporting M&A transactions including due diligence, valuation, and purchase accounting
Responsible to facilitate the education and training of the global accounting team and broader finance organization on technical accounting matters
Deliver business partnership with multiple international and domestic executives and their teams within our organization.
Analysis and solutions for organizational problems
Builds a strong accounting organization and develops talent within the team for our long- term success.
https://sorrentotherapeutics.bamboohr.com/jobs/view.php?id=565
Sorrento only wants the best...
10 years of experience at a โBig 4โ public accounting firm, including significant SEC experience with companies with global operations or equivalent industry experience.
They continue to build and hire and hire and support M&A transactions.
FIVE (5) REASONS SORRENTO SHAREPRICE COULD RISE IN EARLY 2022!
- ABIVERTINIB $61 Billion global market partnership(s). There will be multi-billion upfront, milestone and royalty payments. And look to the partnership partners to become the eventual buyout actors!
- SCILEX SPINOFF. SP-102 fuller data is due next month. This new treatment could gross $6-10 billion annually. The partner is a wealthy Singapore based venture capital firm.
- COVISTIX REVENUE STREAM. Sales are recording in Q4 of 2021 and will ramp up in Q1 of 2022. Europe, Central and South America, Canada, Japan and the US will follow.
- COVI-AMG, COVIDROPS, COVI-MSC, SP-102, ABIVERTINIB(cancer and Covid) news is expected in Q1 2022 as are more EUA's. SP-102 and ABIVERTINIB revenue expected in 2H of 2022.
- ORAL MP18 based PAN-COVID ANTI-VIRAL. A peer-reviewed publication was released showing strong pan-Covid activity (including Omicron). This could enter the clinic in Q1 or Q2. A world-wide development and marketing partner might be expected. Look for something better than Merck or Pfizer's drugs!
Investors say "SHOW US THE MONEY"...and that will happen big time in 2022!
Have a look at the latest updated corporate presentation. https://investors.sorrentotherapeutics.com/static-files/f9f8b12e-6037-4b48-b919-6d99d417698a
And big funds are buying shares! Blackrock 20.8 million:Vanguard 15.5 million:State St. 12.3 million.
***PHASE 3, close to EUA or close to market (13 programs)
- Abivertinib NSCLC NDA filed China
- Abivertinib NSCLC ph.3 completed US
- PD-L1 SCLC partnered.China NDA filed for cervical cancer.
- Erbitux biosimilar
- Xolair biosimilar
- Remicade biosimilar(approved in China. SRNE holds ROW rights!)
- SP-102 sciatica + back pain. Marketing could occur in 2H 2022.
- RTX Osteo Arthritis
- RTX cancer pain
- Covi-Stix EUA application(approval in Mexico, Brazil and Europe...millions shipped to Mexico. WHO and Canada coming soon. DOD CRADA
- Covi-Trace EUA application
- Sofusa Enbrel phase 1b
- Cynviloq (part of PSS lawsuit)
***PHASE 2 (13 programs) - Seprehvir Oncolytic virus
- Covi-MSC EUA potential
- Covi-AMG EUA potential DOD CRADA
- COVIDROPS phase 2 US, UK and Mexico. EUA potential DOD CRADA
- Covi-Track EUA pre-validation DOD CRADA
- PD-L1 partnered
- Herceptin delivery partnered
- Abive
For those wondering why SRNE didnโt double on todayโs fantastic SEMDEXA news it might be worth remembering Immunomedics (IMMU). In Sept 2020 Gilead (GILD) announced they would buy Immunomedics (IMMU) for $21BL or $88 a share. The all cash deal represented approx. 110% premium over the previous dayโs closing price. As a point of reference, IMMU traded as low as $9 a share 8 months earlier in Jan 2020.
GILD โpouncedโ on IMMU to get its hands on its P3 drug โTrodelvyโ, for breast cancer, when the IRB halted the P3 study early due to efficacy. Trodelvy hadnโt even filed a BLA, wasnโt on the market, and of course had no revenue. But Trodelvy is part of a new class of cancer therapy known as an ADC, that scientists view as โguided missilesโ that zero in on tumors to release cytotoxins that deliver up to 10,000 times the potency of standard chemotherapy, while minimizing damage to healthy tissue. Gilead wanted it bad and were not afraid to pay up !!
The market may not be paying attention today but rest assured Big Pharma is watching and salivating !!! SRNEโs fireworks show is coming and it's gonna be like the 4th of July at the Boston Pops when it starts ! Congrats to every Long who owns SRNE โ weโre in on the ground floor boys and we're going up, up, up !!!!!
Me and my gf will be visiting sorrento for a day, we'll be using train to get to Naples and then sorrento. As the trip will be 4+ hours, I wanted to know which side should have the best views. I'm pretty sure I read somewhere a few days ago that it's quite important, but don't remember which one.
Edit : we are considering taking a bus from sorrento to positano, Im having trouble understanding how to get the sita bus tickets
Jonofdubln asked this Q. today on Yahoo, but as usual Yahoo blocked my reply - Jon hereโs my answer here:
SRNE PR dated Dec 6 says: "..PRE-transaction equity value of Scilex of approximately $1.5 billion, subject to adjustment, with expected GROSS proceeds of UP TO to $140 million". Caps added for emphasis.
My take. SRNE owns 99.9% of Scilex Corp. SRNE contributes approx. 10% equity ownership for approx. $140ML cash based on PRE-money valuation. I expect most of that cash stays in Scilex because they still own 90% of Scilex and Scilex needs cash to fund trials, hire employees, etc. Post money mkt cap not relevant. Post transaction, SRNE will own approx. 90% of VCKA Spac (Scilex) and because SRNE ownership exceeds 80%, SRNE gets to consolidate it's ownership percentage of VCKA revenues on the SRNE P and L.
this is probably really obvious and I feel dumb only seeing it now but in ready player one there is a scene where they reveal sorrento was an intern for hallaway. (sorry if Im spelling their names wrong.) Whilst he's an intern he talks about diffrent ranks and the highest rank can be water because ouisis right? Altough it seem Hallway ignores him he acctually used his idea with the keys since the last key was water or ouisis. Maybe to spite him or maybe because he had an idea that sorrento the once ambitious intern would be the one to win.
Brazil news from Dec 7. Looks like in December 2021 we started filling orders for Covistix
ttps://www.medicaldevice-network.com/uncategorised/coronavirus-company-news-summary-biogxs-covid-19-tests-identify-omicron-variant-of-sars-cov-2-virus-sorrentos-partner-orders-covistix-tests-for-launch-in-brazil/
Sorrento Therapeutics has received orders from its logistics partner to commercially launch its COVISTIX COVID-19 Virus Rapid Antigen Detection Test in Brazil. Apart from this initial loading order, a large diagnostic lab in Brazil placed orders for the tests with Sorrentoโs local distribution partner. The tests will be supplied in batches beginning later this month and will carry on until in-country supplies are in line with the rising demand. Furthermore, the company began extending services to other Latin American nations that accept imported Brazil-approved tests.
Sorrento Therapeutics Inc. (NASDAQ: SRNE) Receives GMP Approval For COVISTIX From ANVISA
By Kate Hudson - November 17, 2021
Sorrento Therapeutics Inc. (NASDAQ: SRNE) has received approval for COVISTIX from the Brazilian regulatory agency (ANVISA). COVISTIX is a diagnostic tool that has the potential to be deployed in disease tracking and surveillance programs.
ANVISA issued COVISTIX with GMP approval
ANVISA issued COVISTIX good manufacturing practices approval which was published in the Official Journal of the Brazilian government on October 18, under registration CNPJ 17700763/0001-48 #3951. The marketing authorization approval in Brazil was published on November 3, 2021, under that registration with reference number 25351.041767/2021-72/8096180001.
Futura Ltd, a reputable direct point of care distribution and local hospitals partners for prescription pharmaceuticals and products, will hold the registration for Sorrento, with SYNOVA Ltd distributing the test to its network of diagnostic labs.
COVISTIX is aย 15-minute)diagnostic test for detecting the nucleocapsid antigen of the SARS-CoV-2 virus in nasal samples of patients. Brazil has been heavily affected by the COVID-19 pandemic, with about 21 million illnesses and over 500,000 deaths to date. As a result, the government is aggressively working to improve testing capacities. However, despite active immunization campaigns, the need for testing remains significant, and it is vital in preventing novel variations of concern from spreading.
... keep reading on reddit โกI'm thinking the teaser worked so well they had to add a $5B shelf to prevent a possible hostile take over?
What would big pharma do if they liked the teaser? Would they look to BlackRock, State State, Vanguard to help them acquire Sorrento?
The Phase 2 results from Abivertinib will be released in 1Q 2022.
I would think you would only tease someone or another company with something they would want?
What if the other company they're teasing is reaching out to others for help to suppress the stock by shorting?
Oh and it's a $60.6 Billion tease to boot.
It's another Chess move to develop Sorrento into another BP.
Ok the the teaser worked and please release the results before the Jan 4th H.C. Wainwright BioConnect Virtual Conference.
Once the results are released and it confirms the teaser is valuable. I suspect the stock price will go higher.
The tax selling for XBI has one more day left. Then it's a new year of new buys.
Happy New Year!
Know what you own.
The mind blowing thing about today and marketing is that you have at your greatest footsteps social media which is free. Sorrento should have a Twitter, Instagram and even Facebook page that has visuals and incites on a daily basis that educated the investors. Hire a high school grad and pay them $50K to empower the pipeline on social mediaโฆ get the word out worldwide!!
Putting images of daily achievements that are making an impact on the company that empowers the shareholders to want to buy more.
Every post.. every image is one step closer to getting to the top of the mountain.
We need investors to see.. visuallyโฆ what is going on worldwide with Sorrento.
Show the pipeline!!
It really doesnโt take much!! Have one photographer that showsโฆ
- People at events with COVI-STIX
- The machines that are creating products
- The daily workersโฆ you donโt need faces
- The spacesโฆ the growthโฆ future sites
Sorrento is great scientifically but they are horrible creatively and visually.
Get the word out not just through meeting but to the everyday investors!!
December 28, 2021 7:45 AM EST Tweet Send to a FriendH.C. Wainwright analyst Raghuam Selvaraju reiterated a Buy rating and $26.00 price target on Sorrento Therapeutics (NASDAQ: SRNE) after initial ...
https://www.streetinsider.com/Analyst+Comments/H.C.+Wainwright+Reiterates+Buy+Rating+on+Sorrento+Therapeutics+%28SRNE%29+as+COVISTIX+Test+Detects+Omicron+Variant/19394674.html
Scilex Holding Company, a Sorrento Therapeutics Inc. Subsidiary, and Vickers Vantage Corp I (NASDAQ: VCKA) (โSPACโ) Enter into Letter of Intent for Proposed Business Combination
December 6, 2021 at 9:00 AM EST
https://investors.sorrentotherapeutics.com/news-releases/news-release-details/scilex-holding-company-sorrento-therapeutics-inc-subsidiary-and
Obducat as a machine manufacturer is behind most patents for Sorrento / Sofusa. See for yourself !!
Obducat customer Sorrento Therapeutics reports positive results in dosing with the Sofusaยฎ Lymphatic Drug Delivery Device.
https://www.obducat.com/obducat-customer-sorrento-therapeutics-reports-positive-results/
Just so you know, it is a company from Sweden that supplies, among other things, Sorrento / Sofusa machines to produce all patches.
Sorrento Therapeutics presents overview of its proprietary mRNA vaccine development program for COVID-19, including highlights of the Sofusaยฎ Drug Delivery System
[0197] An Obducat NIL-Eitre.RTM.6 nanoimprinter was used to form nanopatterns on a variety of polymer substrates.... United States Patent Application!!
One of many patents with Obducat machines!! :-)
Rusty RossChief Technical Officer, Sofusa at Sorrento Therapeutics
Likes Obducats link on Linkedin
https://www.linkedin.com/in/rusty-ross-9135797/recent-activity/?locale=sv_SE
December 20, 2021 at 9:00 AM EST
SAN DIEGO, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced that the U.S. Food and Drug Administration (FDA) has granted clearance to proceed with a Phase 1b clinical trial using STI-1386, Seprehvecโข, entitled โDose Escalation Study of the Safety and Preliminary Efficacy of STI-1386 Oncolytic Virus in Patients with Relapsed or Refractory Solid Tumors.โ
STI-1386, or Seprehvec, is a 2nd generation oncolytic herpes simplex virus type 1 (oHSV) developed following the acquisition of Virttu Biologics by Sorrento in 2017 and produced in Sorrentoโs GMP virus therapeutics manufacturing facility. The Seprehvec backbone is deleted of both RL1 gene copies, eliminating expression of the neurovirulence factor ICP34.5 and restricting virus proliferation to cells which are rapidly dividing, i.e., tumor cells. Seprehvec additionally expresses transgenes encoding an anti-PD-1 scFv-Fc isolated from the Sorrento G-MAB antibody library, a TGF beta receptor 2 decoy, and interleukin-12.
These transgene-encoded proteins secreted by Seprehvec-infected tumor cells are designed to act in a coordinated fashion to enhance immune-mediated tumor destruction by i) inhibiting the PD-1/PDL-1 immune checkpoint pathway, ii) diminishing the immunosuppressive effects of TGF beta in the tumor microenvironment, and iii) providing a localized IL-12 signal to activate and attract T cells and NK cells to the tumor.
โSeprehvec allows for locoregional immune stimulation at the tumor site while potentially minimizing the undesired effects that may accompany systemic immune stimulation. Our initial focus is to develop Seprehvec for treatment of sarcomas, pancreatic carcinomas, and hepatic metastases, with expansion to additional solid tumor indications in the future,โ said Mike Royal, MD, JD, MBA, Chief Medical Officer of Sorrento.
Robert Allen, PhD, Senior Vice President of Antiviral and Oncolytic Immunotherapy Development, commented, โSeprehvec provides a unique means of simultaneously bringing multiple tumor-killing and tumor-suppressing elements to bear on solid tumors, which are notoriously hard to eradicate. Using this same approach, we are currently progressing additional oHSV candidates that mediate recruitment and activation of anti-tumor responses from specific subsets of immune cells. The virologists, cancer immunologists, and manufacturing scientists at Sorrento continue to leverage the breadth and
... keep reading on reddit โกCombining OEM and in-house manufacturing capacities, Sorrento is positioning to provide 30 million COVISTIX tests per month in the near term and expand to 50 to 100 million COVISTIX tests monthly to accommodate accelerating demand globally.
Know what you own.
