Sector: Healthcare | Industry: Biotechnology & Medical Research |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 4955 Directors Place SAN DIEGO CA 92121 |
Tel: | N/A |
Website: | https://sorrentotherapeutics.com |
IR: | See website |
Key People | ||
Henry H. Ji Chairman of the Board, President, Chief Executive Officer, Interim Chief Financial Officer |
Business Overview |
Sorrento Therapeutics, Inc. is a clinical and commercial stage biopharmaceutical company. The Company is engaged in developing new therapies to treat cancer, pain (non-opioid treatments), autoimmune diseases and COVID-19. The Company's segments include Sorrento Therapeutics and Scilex. The Sorrento Therapeutics segment is organized around its Immune-Oncology therapeutic area, leveraging its G-MAB antibody library and targeted delivery modalities to generate the next-generation of cancer therapeutics. The Scilex segment is organized around its non-opioid pain management operations and clinical pipeline. The Company's immuno-oncology platforms, including its fully human antibodies (G-MAB library), ACEA small molecule library, immuno-cellular therapies (DAR-T), antibody-drug conjugates (ADCs) and oncolytic virus (Seprehvec). The Company is also developing potential antiviral therapies against COVID-19, including FUJOVEE (Abivertinib) and its rapid diagnostic test, including COVIMARK. |
Financial Overview |
For the six months ended 30 June 2023, Sorrento Therapeutics Inc revenues increased 5% to $31.3M. Net loss decreased 10% to $234.7M. Revenues reflect Scilex segment increase of 57% to $23.2M. Lower net loss reflects Sorrento Therapeutics segment loss decrease of 33% to $136.7M. Basic Earnings per Share excluding Extraordinary Items increased from -$0.66 to -$0.43. |
Employees: | 949 as of Dec 31, 2022 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $68.08M as of Jun 30, 2023 |
Annual revenue (TTM): | $64.27M as of Jun 30, 2023 |
EBITDA (TTM): | -$336.39M as of Jun 30, 2023 |
Net annual income (TTM): | -$548.00M as of Jun 30, 2023 |
Free cash flow (TTM): | -$243.21M as of Jun 30, 2023 |
Net Debt Last Fiscal Year: | $61.47M as of Jun 30, 2023 |
Shares outstanding: | 551,281,154 as of Aug 8, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |