Sorrento Therapeutics, Inc.NASDAQ
Yesterday, 10:01 AM
- A pivotal study comparing Sorrento Therapeutics (SRNE +3.9%) unit SCILEX Pharmaceuticals' ZTlido (lidocaine patch 1.8%) to Lidoderm (lidocaine pathc 5.0%) met its primary endpoint showing comparative pharmacokinetics. The secondary endpoint of bioequivalence was also met.
- The results will be submitted to the FDA as part of a New Drug Application (NDA) under the abbreviated 505(b)(2) pathway.
- ZTlido is a next-generation lidocaine patch in development for the treatment of pain from post-herpetic neuralgia. It contains only 36 mg of lidocaine compared to Lidoderm's 700 mg.
Wed, Nov. 16, 3:47 PM
- Sorrento Therapeutics (SRNE -4.6%) subsidiary TNK Therapeutics inks an agreement to acquire Glasgow, Scotland-based Virttu Biologics Ltd.
- Privately held Virttu's lead product candidate is a oncolytic immunotherapy based on a modified version of the human herpes simplex virus (HSV-1) called SEPREHVIR. It is designed to kill cancer cells and elicit an anti-tumor immune response.
- Under the terms of the agreement, Virttu shareholders will receive $5M in Sorrento stock at closing, expected in Q1 2017, and $20M in TNK stock within 12 months following the next round of financing.
Tue, Nov. 8, 4:44 PM
- Sorrento Therapeutics (NASDAQ:SRNE) closes its acquisition of 72% of the outstanding shares of Scilex Pharmaceuticals for a net purchase price of ~$47.6M in cash and stock.
- Scilex's lead product candidate is ZTlido (lidocaine patch 1.8%), under development for the treatment of postherpetic neuralgia. Scilex originally filed a New Drug Application (NDA) with the FDA in July 2015 but it was rejected. The company met with the agency in late August and clarified a resubmission pathway. If all goes well, an action date (PDUFA) could happen in H2 2017.
- Under the terms of the transaction, Sorrento paid 10% upfront in the form of 752,481 newly issued common shares. It will pay another 10% in common shares upon the resubmission of the ZTlido NDA and the remaining 80% in either cash or stock upon FDA approval.
Fri, Oct. 7, 11:48 AM
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- SCYNEXIS (NASDAQ:SCYX) initiated with Buy rating and $16 (226% upside) price target by Brean Capital.
- Sorrento Therapeutics (NASDAQ:SRNE) initiated with Buy rating and $15 (94% upside) price target by Roth Capital.
- Global Blood Therapeutics (NASDAQ:GBT) initiated with Outperform rating and a $75 - 81 (322% upside from midpoint) target price range by Wells Fargo.
- Alder Biopharmaceuticals (NASDAQ:ALDR) initiated with Buy rating and $45 (49% upside) price target by Brean Capital.
Wed, Aug. 17, 7:23 AM
- Sorrento Therapeutics (NASDAQ:SRNE) subsidiary Scintilla Pharmaceuticals inks a binding term sheet to acquire privately held Semnur Pharmaceuticals. Under the terms of the agreement, Semnur will receive an upfront payment of $60M ($40M in cash + $20M in SRNE common stock) and up to $140M in milestones.
- The Los Altos, CA-based firm's lead product candidate is Phase 2-stage resiniferatoxin (the active ingredient in chili peppers) a non-opioid pain medication for the treatment of intractable cancer pain (and lower back pain according to Semnur's website).
Mon, Aug. 15, 2:57 PM
Mon, Jul. 11, 10:19 AM
- Sorrento Therapeutics (SRNE -0.3%) closes a license and collaboration agreement with French drug maker Servier for the development, manufacture and commercialization of Sorrento's IND-stage STI-A1110, a fully human immuno-oncology anti-PD-1 monoclonal antibody.
- Under the terms of the deal, Sorrento will receive an upfront payment of €25M, milestones up to €710M and high single-digit to double-digit royalties on net sales.
Mon, May 16, 10:44 AM
- Mabtech Ltd., a biosimilar development and commercialization partner with Sorrento Therapeutics (SRNE +3.1%), completes a successful Phase 2/3 clinical trial in China assessing Sorrento's STI-004, a biosimilar antibody of Roche (OTCQX:RHHBY +0.8%) and Novartis' (NVX +0.2%) asthma and urticaria med Xolair (omalizumab).
- STI-004 is one of four monoclonal antibodies licensed by Sorrento from Mabtech last year for the territories of North America, Europe and Japan.
- Previously: Sorrento inks biosimilar antibody deal with China's Mabtech (Aug. 3, 2015)
Mon, May 16, 9:19 AM
Mon, May 9, 1:12 PM
- Thinly traded micro cap Sorrento Therapeutics (SRNE +7.2%) announces that, earlier this year, it engaged Guggenheim Securities and PJT Partners to assist it in assessing strategic alternatives to maximize shareholder value.
- The company has no definite timeline for any type of deal and says there is a possibility of no deal at all. It does not intend to disclose any further information on the matter until such time as a material event warrants such disclosure.
- The company's oncology pipeline includes six monoclonal antibodies and five CAR-T programs.
Wed, Apr. 6, 9:06 AM
- Sorrento Therapeutics (NASDAQ:SRNE) appoints Kevin Herde as EVP and Chief Financial Officer. He joins the firm from Hologic where he was VP of Global Blood Screening and Alliance Management.
Tue, Apr. 5, 7:12 AM
- Sorrento Therapeutics (NASDAQ:SRNE) enters into definitive agreements with institutional investors and its strategic corporate partner, Yuhan Corp. of South Korea, for the private placement of ~$150M of newly issued common stock at $5.55 per share and warrants to purchase common stock at $8.50 per share.
- Net proceeds will fund pipeline development and general corporate purposes.
- Yesterday's close was $6.30.
- Read now Sorrento Therapeutics Bottoming At $5 To $6 Per Share And Offering Material Upside
Wed, Mar. 2, 10:22 AM
- Sorrento Therapeutics (SRNE +4.4%) and South Korean pharma firm Yuhan form a joint venture company, ImmuneOncia Therapeutics, LLC, to develop and commercialize immune checkpoint inhibitors against undisclosed targets in certain blood cancers and solid tumors.
- Under the terms of the agreement, Yuhan will make an initial investment of $10M and Sorrento will grant ImmuneOncia an exclusive license to one of its immune checkpoint antibodies for selected territories exclusive of the U.S., Europe and Japan. The JV will also have global rights to two additional antibodies that will be selected by ImmuneOncia from Sorrento's portfolio.
- Yuhan will own 51% of ImmuneOncia while Sorrento will own 49%. Yuhan Chief Scientific Officer Dr. Su Youn Nam will lead the venture as CEO.
- The first of the three immune checkpoint antibodies should enter clinical trials in 2017.
Tue, Jan. 12, 8:33 AM
- Cellectis S.A. (NASDAQ:CLLS) is up 9% premarket on light volume in response to the news that it has developed a new chimeric antigen receptor (CAR) architecture that permits control over CAR-T cell functions, potentially enabling the ability to control unwanted risks such a cytokine-release syndrome and "on-target, off-tumor" effect. Currently, the only remedies for these effects rely on suicide mechanisms that completely eradicate the engineered T-cells which results in a premature end of the treatment.
- Cellectis scientists engineered a system directly integrated with the CAR architecture by adding a small molecule that turns a CAR-T cell from an "off" state to an "on" state, thereby controlling activation and mitigating the risk of CAR-induced toxicities. It also creates opportunities for spatial activation of the engineered CAR-T cells using local targeted drug delivery.
- The study was just published in the journal Scientific Reports.
- Related tickers: (NASDAQ:JUNO)(NASDAQ:KITE)(NASDAQ:BLUE)(NASDAQ:BLCM)(NYSE:NVS)(NASDAQ:SRNE)
Dec. 22, 2015, 12:50 PM
- Thinly traded micro cap Sorrento Therapeutics (SRNE +16.4%) shows some pep in early trading on triple normal volume. The only news is the initiation of coverage by FBR capital with an Outperform rating and $22 (142% upside) price target.
- The company is developing a range of monoclonal antibodies and immuno-oncology therapies. Its one of many in the universe of Dr. Patrick Soon-Shiong, who became famous after he founded and sold Abraxis BioScience to Celgene for $3B in 2010.
Oct. 19, 2015, 7:05 AM
- Sorrento Therapeutics (NASDAQ:SRNE) appoints Jeffrey Su, Ph.D., as EVP and Chief Operating Officer. He joins the firm from Cytovance Biologics where he was Chief Scientific and Development Officer.