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PR Newswire (Aug 8, 2014)
PR Newswire (Jul 31, 2014)
PR Newswire (Jun 20, 2014)
PR Newswire (Jun 12, 2014)
PR Newswire (May 30, 2014)
Thu, Jul. 31, 6:11 PM
Tue, Jul. 1, 2:02 PM
- NIH division The National Institute of Allergy and Infectious Diseases ((NIAID) awards a Phase 2 Small Business Technology Transfer Research (STTR) grant to Sorrento Therapeutics (SRNE -0.6%). The funds available under the grant are up to $1M per year for two years. The money will support the advanced preclinical development of human bispecific antibody therapeutics to prevent and treat Staphylococcus aureus infections, including methicillin-resistant S. aureus.
- NIAID also awards the company a Phase 1 STTR grant of $300K per year for up to two years to support the preclinical development of novel anti-Pseudomonas aeruginosa mAb immunotherapy or an Ab-mediated targeted antibiotic delivery vehicle.
- Sorrento President & CEO Henry Ji, Ph.D., says, "While Sorrento's main focus is bringing the clinical stage oncology asset Cynviloq and resiniferatoxin into the market as quickly as possible, non-dilutive funding from the NIH allows us to explore innovative therapies for unmet medical needs such as multiple drug resistant bacterial infections."
Thu, May. 15, 12:46 PM
Thu, May. 15, 9:15 AM
Thu, May. 15, 7:28 AM
- Shares of thinly traded nano cap Sorrento Therapeutics (SRNE) are off 21% premarket after it announces the pricing of its secondary stock offering of 4.765M shares. The $5.25 offer price represents a discount of almost 22% from yesterday's close of $6.70. Gross proceeds will be ~$25M. Underwriters over-allotment is 714,750 shares.
Thu, Apr. 17, 12:47 PM
Tue, Apr. 8, 12:45 PM
Tue, Apr. 8, 12:20 PM
- Recent IPO Sorrento Therapeutics (SRNE -17.1%) trades close to its October 25 first day close of $8.62 representing almost a 50% drop from its March 21 peak of $16.40 as investors continue their exodus from the biotech sector.
- iShares NASDAQ Biotech ETF (IBB -0.1%) is down 18% from its February 25 high of $275.40.
- Perhaps Aegis Capital should revisit its $40 PT?
Tue, Mar. 25, 8:08 AM
- Sorrento Therapeutics (SRNE) forms a wholly-owned subsidiary, Ark Animal Therapeutics, to develop resiniferatoxin (RTX) for veterinary applications.
- RTX targets TRPV-1, a receptor expressed on afferent nerves that becomes activated in inflammation-characterized diseases and resulting severe pain. In studies with dogs with advanced bone cancer, treatment with RTX significantly reduced pain for as long as nine months.
- Ark Animal will secure its own financial resources.
Dec. 19, 2013, 9:12 AM
Dec. 3, 2013, 10:28 AM
- Galectin Therapeutics (GALT +14.2%) initiated at Buy at MLV. Price target is $20.
- Oramed Pharma (ORMP +3.6%) started at Buy at Aegis. Price target is $25.
- Sorrento Therapeutics (SRNE +2.6%) started at Buy at Aegis. Price target is $40.
- Team Health (TMH +0.4%) initiated at Buy at SunTrust. Price target is $54.
- IPC (IPCM +0.1%) started at Neutral at SunTrust. Price target is $63.
Nov. 21, 2013, 9:29 AM
- Aetna (AET) initiated at Overweight by Morgan Stanley. Price target is $83.
- WellPoint (WLP) initiated at Equalweight by Morgan Stanley. See also: WLP to reaffirm guidance.
- Cigna (CI) started at Overweight by Morgan Stanley. Price target is $100.
- Humana (HUM) started at Equalweight at Morgan Stanley.
- Sorrento Therapeutics (SRNE) started at Buy at CRT Capital. Price target is $11.
- Cardinal Health (CAH) initiated at Hold at Deutsche Bank. Price target is $66.
- Charles River Labs (CRL) started at Hold at Deutsche Bank. Price target is $55.
- althenahealth (ATHN) started at Buy at Deutsche Bank. Price target is $162.
- UnitedHealth (UNH) started at Overweight at Morgan Stanley. Price target is $84.
- Centene (CNC) started at Equalweight at Morgan Stanley.
- Amicus Therapeutics (FOLD) cut to Neutral from Buy at Janney. Price target is now $2.50. See also: FOLD revises terms of Glaxo deal, outlines acquisition, financing.
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