Yahoo Finance : Near-Term Developments Could Catapult Shares Higher | SRNE Message Board Posts


Sorrento Therapeutics, Inc.

  SRNE website

SRNE   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  1002 of 1380  at  6/7/2021 6:54:28 PM  by

Bluemoon

The following message was updated on 6/7/2021 6:56:09 PM.

Yahoo Finance : Near-Term Developments Could Catapult Shares Higher

Sorrento: Near-Term Developments Could Catapult Shares Higher



Mon, June 7, 2021, 3:45 PM3 min read

SRNE

+4.44%

Anyone keeping track of the progress being made at Sorrento Therapeutics (SRNE), will be aware the company has a bulging pipeline encompassing a wide spectrum of drugs, ranging from cancer to pain to lymphatic delivery systems.

One part of the portfolio is dedicated to finding various solutions in the ongoing fight against Covid-19. Despite the pandemics retreat, H.C. WainwrightsRam Selvarajuthinks investors should take note of the near-term value drivers from Sorrento's extensive portfolio of assets targeting the complications caused by COVID-19 infection.

One such asset is COVI-MSC, a proprietary preparation of mesenchymal stem cells (MSCs). The treatment is all set to begin a randomized, controlled clinical trial, and Selvaraju thinks that should the studys results prove positive, the treatment could be granted Emergency Use Authorization (EUA) before the years end.

Scroll to continue with contentAd

We note that 100% of the patients (n=10) treated with COVI-MSC in a Phase 1b study focused on the intensive care unit (ICU) context recovered fully and were discharged from hospital, the analyst said.

The Phase 2 trial should kick off in Brazil this month, for which the Brazilian regulatory body has already given the all clear.

The company is also making progress in the development of COVISHIELD, a neutralizing antibody cocktail intended to guard from disease caused by SARS-CoV-2 variants.

Selvaraju says there is already evidence that this approach retains effectiveness against multiple emergent SARS-CoV-2 variants with greater infectivity than the original strain.

The analyst is also keeping a close watch on the anticipated near-term progress of COVIDROPS (intranasally-delivered COVI-AMG antibody) and COVIDTRAP (an ACE2 receptor decoy).

Additionally, Covi-Stix, Sorrentos approximately 15-minute COVID-19 diagnostic test, has been added to the Mexican governments official list of rapid antigen tests approved for emergency use in the country. In studies overseen by Mexican health officials, the test showed better results than other COVID-19 tests in both sensitivity and specificity metrics.

Thats not all, however. Elsewhere, Sorrento has also closed the ACEA Therapeutics acquisition. The deal has cost the company roughly $38 million and could be worth another $450 million in milestone payments for ACEA equity holders. Sorrento, in turn, will get it hands on a pipeline which includes abivertinib, a late clinical-stage drug which has already displayed promising clinical trial results in b-cell lymphoma and non-small cell lung cancer (NSCLC).

Accordingly, Selvaraju has a Buy rating on SRNE stock along with a $30 price target for the shares. Upside potential from current levels is a hefty 254%. (To watch Selvarajus track record,click here)

Both other analysts keeping track of Sorrentos progress rate the stock a Buy, all culminating in a Strong Buy consensus rating. The average price target clocks in at $25, suggesting one-year gains of 195%. (See SRNE stock analysis on TipRanks)







     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 5  
   Views: 0 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board


Financial Market Data provided by
.
Loading...