SRNE Stock Overview
Sorrento Therapeutics, Inc., a clinical stage and commercial biopharmaceutical company, develops therapies for cancer, autoimmune, inflammatory, viral, and neurodegenerative diseases.
Sorrento Therapeutics, Inc. Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$1.55|
|52 Week High||US$7.40|
|52 Week Low||US$1.15|
|1 Month Change||-22.89%|
|3 Month Change||-39.45%|
|1 Year Change||-75.59%|
|3 Year Change||-12.92%|
|5 Year Change||-26.19%|
|Change since IPO||-87.60%|
Recent News & Updates
Sorrento unit Scilex pre-emptively pays off remaining notes for $39.7M
Scilex, a unit of Sorrento Therapeutics (NASDAQ:SRNE), said Thursday it pre-emptively paid off and eliminated all remaining senior secured notes in an aggregate principal amount of $67.7M for cash payment of ~$39.7M. Scilex will go public through a merger with SPAC Vickers Vantage (VCKA), which is expected to close in Q4.
Sorrento Sofusa drug delivery system shows promise vs subcutaneous injection in trial
Sorrento Therapeutics (NASDAQ:SRNE) said that patients with rheumatoid arthritis who received Amgen's (NASDAQ:AMGN) Enbrel (etanercept) though the company's Sofusa Lymphatic Drug Delivery System showed improvement in disease activity, compared to etanercept subcutaneous (under the skin) injections in a phase 1b trial. To be eligible for the trial, participants had to be on a stable dose of 50mg of etanercept and not responding adequately to the etanercept subcutaneous treatment, the company said in a Sept. 15 press release. Preliminary results suggested that all seven patients who had completed the first cohort of the study (12 weeks) achieved a significant improvement in their Rheumatoid Arthritis Disease Activity at 50% of the subcutaneous dose (25mg). The company wanted to test if Sofusa's biodistribution profile could improve clinical response, reduce the amount of drug required to achieve a response or both. Sorrento said it will present full data from the study at the at the ACR Convergence 2022 Conference on Nov. 13.
Sorrento stock rises 13% on FDA fast track status for low back pain therapy SP-103
The U.S. Food and Drug Administration (FDA) granted fast track designation to Scilex's drug/device product candidate SP-103 to treat acute low back pain (LBP). Scilex — which is over 99.9% owned by Sorrento Therapeutics (NASDAQ:SRNE) — is developing SP-103 to be a non-opioid triple-strength, non-aqueous lidocaine topical system for acute LBP. "We are very pleased that the FDA has granted Fast Track designation for the non-opioid SP-103 program, the next generation triple strength formulation of ZTlido," said Scilex President and CEO Jaisim Shah. If approved, SP-103 could become the first FDA-approved lidocaine topical product to treat acute LBP, Scilex said in an Aug. 30 press release. Scilex is currently in the middle of a merger with SPAC Vickers Vantage I (NASDAQ:VCKA) and will go public on Nasdaq under the symbol SCLX. SRNE +13.40% to $2.20 premarket Aug. 31
|SRNE||US Biotechs||US Market|
Return vs Industry: SRNE underperformed the US Biotechs industry which returned -25.6% over the past year.
Return vs Market: SRNE underperformed the US Market which returned -23.2% over the past year.
|SRNE Average Weekly Movement||13.2%|
|Biotechs Industry Average Movement||11.1%|
|Market Average Movement||6.8%|
|10% most volatile stocks in US Market||15.5%|
|10% least volatile stocks in US Market||2.8%|
Stable Share Price: SRNE is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 13% a week.
Volatility Over Time: SRNE's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of US stocks.
About the Company
Sorrento Therapeutics, Inc., a clinical stage and commercial biopharmaceutical company, develops therapies for cancer, autoimmune, inflammatory, viral, and neurodegenerative diseases. It operates through two segments, Sorrento Therapeutics and Scilex. The company provides cancer therapeutic 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 conjugate, as well as bispecific antibody approach; and Sofusa, a drug delivery technology that deliver biologic directly into the lymphatic system.
Sorrento Therapeutics, Inc. Fundamentals Summary
|SRNE fundamental statistics|
Is SRNE overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|SRNE income statement (TTM)|
|Cost of Revenue||US$238.76m|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||-1.18|
|Net Profit Margin||-952.65%|
How did SRNE perform over the long term?See historical performance and comparison