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SRNE Sorrento Therapeutics

Sorrento is a clinical stage, antibody-centric, biopharmaceutical company developing new therapies to turn malignant cancers into manageable and possibly curable diseases. Sorrento's multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies ('G-MAB™library'), clinical stage immuno-cellular therapies ('CAR-T', 'DAR-T'), antibody-drug conjugates ('ADCs'), and clinical stage oncolytic virus ('Seprehvir®'). Sorrento is also developing potential coronavirus antiviral therapies and vaccines, including COVIDTRAP™, ACE-MAB™, COVI-MAB™, COVI-GUARD™, COVI-SHIELD™and COVI-CELL™. Sorrento's commitment to life-enhancing therapies for patients is also demonstrated by its effort to advance a first-in-class (TRPV1 agonist) non-opioid pain management small molecule, resiniferatoxin ('RTX'), and ZTlido® (lidocaine topical system) 1.8% for the treatment of post-herpetic neuralgia. RTX is completing a phase IB trial for intractable pain associated with cancer and a phase 1B trial in osteoarthritis patients. ZTlido® was approved by the FDA on February 28, 2018.

Company profile

Ticker
SRNE
Exchange
CEO
Henry Ji
Employees
Incorporated
Location
Fiscal year end
Former names
QUIKBYTE SOFTWARE INC
SEC CIK
IRS number
330344842

SRNE stock data

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Press releases

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Lee's Pharmaceutical Announces First Patient Dosed With its Anti-PD-L1 Antibody Socazolimab, Licensed From Sorrento Therapeutics, as a First-Line Treatment of Extensive-Stage Small-Cell Lung Cancer
23 Jul 21
China Oncology Focus, a subsidiary of Lee's Pharm, has enrolled the first patient in the Socazolimab double-blinded Phase 3 study in combination with chemotherapy as a first-line treatment of extensive-stage small-cell
Delta Variant Infections of COVID Rising Quickly & Now Responsible for 83% of All U.S. Cases
22 Jul 21
PALM BEACH, Fla., July 22, 2021 /PRNewswire/ -- According to WebMD, this week the nation's top health officials said Tuesday that the Delta variant of the coronavirus is racing through North America and other parts
Sorrento Announces That Its Subsidiary Levena and Its Partner Escugen Have Received Clearance to Begin Clinical Trials With Anti-TROP-2 Antibody Drug Conjugate For Multiple Solid Tumors
21 Jul 21
Anti-TROP-2 coupled to SN38 (a DNA polymerase inhibitor) (ESG-401) has received approval to begin clinical trials.ESG-401 addresses a highly unmet need for the treatment of multiple solid tumors, including
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
21 Jul 21
Sorrento Therapeutics Announces the Formation of Sorrento Therapeutics Mexico for Commercialization of COVI-STIX and Development of Sorrento's Portfolio of COVID-19 Products in Mexico and Parts of Latin America
20 Jul 21

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 May 21
2 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
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Cash on hand
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Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
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Cost of revenue
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Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 41.68M 41.68M 41.68M 41.68M 41.68M 41.68M
Cash burn (monthly) 4.93M 2.11M 28.3M 23.86M 16.02M 14.09M
Cash used (since last report) 20.13M 8.6M 115.58M 97.42M 65.42M 57.53M
Cash remaining 21.55M 33.08M -73.9M -55.74M -23.74M -15.85M
Runway (months of cash) 4.4 15.7 -2.6 -2.3 -1.5 -1.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
12 Apr 21 Janda Kim Common Stock Sell Dispose S No Yes 6.9742 1,900 13.25K 3,000
12 Apr 21 Janda Kim Common Stock Option exercise Aquire M No Yes 3.5 1,900 6.65K 4,900
12 Apr 21 Janda Kim NQSO Common Stock Option exercise Dispose M No Yes 3.5 1,900 6.65K 0
16 Mar 21 Najjam Asghar Common Stock Grant Aquire A No No 0 56,974 0 56,974
16 Mar 21 Najjam Asghar Stock Option Common Stock Grant Aquire A No No 10.18 100,000 1.02M 100,000
16 Dec 20 Followwill Dorman Common Stock Sell Dispose S No No 7.135 1,000 7.14K 2,130
12 Nov 20 Najjam Asghar Stock Option Common Stock Grant Aquire A No No 6.1 120,000 732K 120,000
11 Nov 20 Followwill Dorman Common Stock By will or laws of descent Aquire W No No 0 1,000 0 3,130

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

33.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 228 219 +4.1%
Opened positions 46 57 -19.3%
Closed positions 37 45 -17.8%
Increased positions 68 78 -12.8%
Reduced positions 65 38 +71.1%
13F shares
Current Prev Q Change
Total value 788.24M 819.5M -3.8%
Total shares 99.1M 100.84M -1.7%
Total puts 2.51M 4.61M -45.5%
Total calls 3.61M 4.82M -25.0%
Total put/call ratio 0.7 1.0 -27.3%
Largest owners
Shares Value Change
BLK Blackrock 19.41M $160.52M +10.2%
Vanguard 13.55M $112.1M +10.1%
STT State Street 9.79M $80.94M -22.8%
Famous Sino 5.96M $40.71M 0.0%
China In Shine Investment 4.76M $32.49M 0.0%
Hongguo International 4.07M $27.81M 0.0%
Geode Capital Management 4.05M $33.53M +11.7%
Asia Pacific MedTech 3.55M $24.22M 0.0%
Magnum Opus 2 International 3.34M $22.82M 0.0%
Cormorant Asset Management 2.75M $22.74M -38.9%
Largest transactions
Shares Bought/sold Change
STT State Street 9.79M -2.89M -22.8%
BLK Blackrock 19.41M +1.79M +10.2%
Cormorant Asset Management 2.75M -1.75M -38.9%
GS Goldman Sachs 657.37K -1.25M -65.6%
Vanguard 13.55M +1.24M +10.1%
MS Morgan Stanley 805.99K -1.14M -58.6%
Sabby Management 1.06M +1.06M NEW
JPM JPMorgan Chase & Co. 2.38M +981.49K +70.0%
Jane Street 212.6K -873.88K -80.4%
Coatue Management 0 -750K EXIT

Financial report summary

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Risks
  • We are a clinical stage company subject to significant risks and uncertainties, including the risk that we or our partners may never develop, obtain regulatory approval or market any of our product candidates or generate product related revenues.
  • We have incurred significant losses since inception and anticipate that we will incur continued losses for the foreseeable future.
  • We will require substantial additional funding, which may not be available to us on acceptable terms, or at all. If we fail to raise the necessary additional capital, we may be unable to complete the development and commercialization of our product candidates or continue our development programs.
  • Our portfolio of marketable securities is subject to market, interest and credit risk that may reduce its value.
  • Drug development involves a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results.
  • There can be no assurance that the product candidates we are developing for the detection and treatment of COVID-19 will be granted an Emergency Use Authorization by the FDA. If no Emergency Use Authorization is granted or, once granted, it is terminated, we will be unable to sell our product candidates in the near future and will be required to pursue the drug approval process, which is lengthy and expensive.
  • Our business may be adversely affected if we do not manage our current growth and do not successfully execute our growth initiatives.
  • The growth of our business depends on our ability to attract and retain qualified personnel and to develop and maintain key relationships.
  • The market price of our common stock may fluctuate significantly, and investors in our common stock may lose all or a part of their investment.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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