Sorrento Therapeutics (SRNEQ)

Company Profile

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

SRNEQ

Exchange

NASDAQ

Website

sorrentotherapeutics.com

CEO

Henry Ji

Incorporated

Delaware

Location

California

Fiscal year end

Dec 31

Sector

Professional, Scientific, and Technical Services > Research and Development in Biotechnology

Industry (SIC)

Biological Products, (No Diagnostic Substances)

AMGEN • Gilead Sciences • Biogen • Qiagen • Moderna • BioNTech SE • Bio-Techne • Sana Biotechnology • Ginkgo Bioworks • Exelixis ...

Former names

QUIKBYTE SOFTWARE INC

SEC CIK

0000850261

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Concortis Biosystems, Corp. • Ark Animal Health, Inc. • TNK Therapeutics, Inc. • BioServ Corporation • Adnab, Inc. • ACEA Therapeutics, Inc. • Scilex Holding Company • Semnur Pharmaceuticals, Inc. • Scilex Pharmaceuticals Inc. • Levena Biopharma US, Inc. ...

IRS number

330344842

SRNEQ stock data

1M 1Y 5Y

Latest filings (excl ownership)

View all

8-K

Regulation FD Disclosure

Regulation FD Disclosure

15 May 23

POS AM

Prospectus update (post-effective amendment)

12 May 23

NT 10-Q

Notice of late quarterly filing

8 May 23

8-K

Regulation FD Disclosure

2 May 23

8-K

Regulation FD Disclosure

Latest ownership filings

View all

ICS OPPORTUNITIES, LTD.

Financial summary

Financial statements Chart SRNEQ financial data

Quarter (USD)	Mar 23	Dec 22	Sep 22	Jun 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	37.66 mm	37.66 mm	37.66 mm	37.66 mm	37.66 mm	37.66 mm
Cash burn (monthly)	(no burn)	6.19 mm	35.45 mm	41.98 mm	16.49 mm	21.66 mm
Cash used (since last report)	n/a	13.39 mm	76.73 mm	90.87 mm	35.69 mm	46.89 mm
Cash remaining	n/a	24.26 mm	-39.08 mm	-53.22 mm	1.97 mm	-9.24 mm
Runway (months of cash)	n/a	3.9	-1.1	-1.3	0.1	-0.4

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q1 2023

SRNEQ institutional ownership history Ownership history

9.5% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	41	224	-81.7%
Opened positions	7	37	-81.1%
Closed positions	190	44	+331.8%
Increased positions	3	73	-95.9%
Reduced positions	7	46	-84.8%

13F shares	Current	Prev Q	Change
Total value	1.74 bn	180.77 bn	-99.0%
Total shares	52.38 mm	237.36 mm	-77.9%
Total puts	0.00	2.45 mm	EXIT
Total calls	0.00	1.69 mm	EXIT
Total put/call ratio	–	1.4	–

Largest owners	Shares	Value	Change
Ics Opportunities	14.52 mm	$2.40 mm	NEW
Xianjian Advanced Technology	7.34 mm	$51.77 mm	0.0%
Famous Sino	5.96 mm	$40.71 mm	0.0%
China In Shine Investment	4.76 mm	$32.49 mm	0.0%
Ally Bridge Group Capital Partners II	4.45 mm	$12.10 mm	0.0%
Hongguo International	4.07 mm	$27.81 mm	0.0%
Paloma Partners Management	3.78 mm	$1.36 bn	NEW
Asia Pacific MedTech	3.55 mm	$24.22 mm	0.0%
Magnum Opus 2 International	3.34 mm	$22.82 mm	0.0%
Oaktree Capital Management	134.00 k	$48.24 mm	0.0%

Largest transactions	Shares	Bought/sold	Change
STT State Street	0.00	-50.64 mm	EXIT
BLK Blackrock	0.00	-39.42 mm	EXIT
Vanguard	0.00	-29.54 mm	EXIT
Ics Opportunities	14.52 mm	+14.52 mm	NEW
Geode Capital Management	0.00	-8.91 mm	EXIT
RILY B. Riley Financial	0.00	-5.22 mm	EXIT
B. Riley FBR	0.00	-5.22 mm	EXIT
D. E. Shaw & Co.	0.00	-5.11 mm	EXIT
Rafferty Asset Management	0.00	-4.39 mm	EXIT
NTRS Northern Trust	0.00	-4.18 mm	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

SRNEQ insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
17 Mar 23	Ji Henry	Common Stock		Acquire X	Yes	No	0.8027	19,500	15.65 k	20,000
17 Mar 23	Ji Henry	Put Option (obligation to buy) Common Stock	Sale back to company	Dispose D	Yes	No	0.8027	195	156.53	0
19 Jan 23	Sorrento Therapeutics	Common Stock	Other	Dispose J	No	No	0	73,740,795	0.00	61,985,795
21 Dec 22	Ji Henry	Common Stock		Acquire X	Yes	No	5.5	300	1.65 k	500
21 Dec 22	Ji Henry	Put Option (obligation to buy) Common Stock		Dispose X	Yes	No	5.5	3	16.50	195
15 Dec 22	Ji Henry	Common Stock	Grant	Acquire A	No	No	0	1,500,000	0.00	6,265,805
2 Dec 22	Sorrento Therapeutics	Warrants to Purchase Common Stock Common Stock	Buy	Acquire P	No	No	0.3507	224,841	78.85 k	4,490,617
2 Dec 22	Ji Henry	Common Stock		Acquire X	Yes	No	5.5	200	1.10 k	200
2 Dec 22	Ji Henry	Put Option (obligation to buy) Common Stock		Dispose X	Yes	No	5.5	2	11.00	198