Sorrento Therapeutics Inc (PK:SRNE)

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
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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

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