Sorrento Therapeutics Inc (OTCMKTS: SRNEQ) together with its subsidiaries is a clinical stage and commercial biopharmaceutical company focused on delivering innovative and clinically meaningful therapies to address unmet medical needs. At its core, Sorrento is antibody-centric and leverages its proprietary G-MAB™ library and targeted delivery modalities to generate the next generation of cancer therapeutics. Sorrento’s fully human antibodies include PD-1, PD-L1, CD38, CD47, BCMA, CTLA-4, CD123, CD47, LAG3, ROR1, VEGFR2, CCR2 and CD137 and SARS-CoV-2 neutralizing antibodies, among others. Sorrento also has programs assessing the use of its technologies and products in autoimmune, inflammatory, viral and neurodegenerative diseases. The Company counts some of the biggest names and investment houses on wall street as its primary shareholders. 

Sorrento is leveraging its antibodies in conjunction with proprietary targeted delivery modalities to generate the next generation of cancer therapeutics. These modalities include proprietary chimeric antigen receptor T-cell therapy (“CAR-T”), dimeric antigen receptor T-cell therapy (“DAR-T™”), antibody drug conjugates (“ADCs”), lymphatic drug targeting (SOFUSA®), as well as bispecific antibody approaches. Sorrento acquired SOFUSA, a revolutionary drug delivery technology which delivers biologics directly into the lymphatic system to potentially achieve improved efficacy and reduce adverse effects compared to standard parenteral immunotherapy. Additionally, Sorrento’s majority-owned subsidiary, Scilex Holding Company acquired the assets of Semnur Pharmaceuticals, Inc. Semnur’s SEMDEXATM (“SP-102”) compound has the potential to become the first U.S. FDA approved epidural steroid product for the treatment of sciatica.  

Some have asked why I decided to hold my $SRNEQ position through a delisting to the OTC, a company who just filed bankruptcy?
Holding nearly $1Billion in warrants, for starters, INSTANTLY gives a value much higher than the current $0.30pps.
AND Institutional SH’s didn’t bail. https://t.co/iIrcp6juKE

— pronounced: 🦉🐝 (@ItsStillMeAlby) February 25, 2023

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Sorrento’s majority owned subsidiary Scilex Holding Company (Nasdaq: SCLX) is dedicated to the development and commercialization of non-opioid pain management products.  The company’s lead product ZTlido® (lidocaine topical system) 1.8%, is a branded prescription lidocaine topical product approved by the U.S. Food and Drug Administration for the relief of pain associated with Post-Herpetic Neuralgia (PHN), which is a form of post-shingles nerve pain.

Scilex’s SP-102 (10 mg dexamethasone sodium phosphate viscous gel injection), or SEMDEXA™, for the treatment of Lumbar Radicular Pain has completed enrollment in a Phase III clinical trial and has received Fast Track Status from the FDA. If approved by the FDA, the company expects SP-102 to be the first FDA-approved non-opioid epidural injection to treat lumbosacral radicular pain, or sciatica, with the potential to replace 10 to 11 million off-label epidural steroid injections administered each year in the US. Scilex in-licensed the exclusive right to commercialize Gloperba® (colchicine USP) oral solution, an FDA-approved prophylactic treatment for painful gout flares in adults. In the U.S. Scilex, is planning to commercialize Gloperba® in 2023, and is well-positioned to market and distribute the product. 

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Currently trading at a 183 million market cap Sorrento os is 471,880,267 shares outstanding. As of their Chapter 11 filing the Company had a reported $1 billion in assets vs about $480 million in liabilities on the books according to the Company’s most recent 10Q. As we said Q stocks are well known for making historic runs once on the bulletin boards as the Chapter 11 process can drag on for months regardless of the final outcome which in the case of Sorrento may very well meaning coming out of Chapter 11 with the commons intact considering the Company’s powerful backers and the little amount owed. Currently making a powerful move towards $0.50 break, the stock was over $14 this time 2 years ago and has plenty of room here. I have covered some enormous Q runners over the years that kept going for months. Adding to the volatility here is the significant short position in the stock.  We will be updating on Sorrento when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in Sorrento either long or short and we have not been compensated for this article.