Sorrento Therapeutics On The Run
Sorrento Therapeutics has run over 100% since it hit bottom at $5.77. Hindenburg put out hit piece on SRNE scaring off many retail traders. At the end of the day that report has been proven wrong, and Sorrento is roaring back. As you can see from the chart below, Bulls have reclaimed the bullish trendline established June 4th. Bulls are in control.
Sep 22, 2020
Sep 16, 2020
Sep 14, 2020
Sep 02, 2020
Aug 20, 2020
Sorrento Enters Into Merger Agreement to Acquire SmartPharm and Develop Pipeline of Gene-Encoded Therapeutic Antibodies, Starting With Neutralizing Antibodies to Treat COVID-19 and Cancer Therapeutics
Aug 19, 2020
Sorrento Announces FDA IND Filing Today for COVI-GUARD Neutralizing and High Potency Antibody Against SARS-CoV-2
As I write this blog, there is a short squeeze going on. We have the short sellers right where we want them as we get closer to October 16th.
What's the significance of October 16th?
That's when Sorrento Therapeutics will hold the shareholder meeting to vote for Dr. Ji's milestone awards. So what? Well, if Dr Ji is going to earn the vote of institutional voters, he will have to continue to prove with continued execution of pipeline advancement. Below are the SEC links and photos with the details on the milestone awards for Dr. Ji. Also you have a photo of the All Star pipeline primed for precise execution.
Shareholder meeting is going to be a defining moment for the future of Sorrento Therapeutics.
Will the votes add up to give Dr Ji an Elon Musk type milestone awards package? Does Dr Ji become the Elon Musk of small/mid-size biotech companies? I think so, and here is why.
As we creep closer into October 16th, I expect the momentum to continue. We are facing a heavy market correction, but even in the face of correction, Sorrento was able to blast of 280% when Dr Ji announced that he had discovered the potential cure back in May. So even in this heavy market, Sorrento has the potential and high probability to continue it's climb.
Catalyst Moving Into Shareholder Meeting
We have long been awaiting an EUA for COVI-TRACK. This EUA is taking a bit longer than we expected, and not unusual. Many companies recently have had to wait longer than 3 months due to higher scrutiny on the EUA's and COVI-TRACK is a differentiated antibody test with results in 8 minutes. Two main factors holding is that Sorrento needs a solution for tracking/tracing the positive tests with some form of technology. COVI-MOBIL was trademarked for whatever solution they come up with. We are also awaiting for the manufacturer to receive a registration number. From now, and into the shareholders meeting would be perfect timing for the EUA to be approved.
The second catalyst that we are awaiting is the submission of COVI-TRACE. Many are investors/traders are waiting for this submittal. Sorrento is currently in pre-EUA talks with the the FDA, as they were with STI-1499 pre-IND,that was recently approved. So when they submit COVI-TRACE, it will be with the utmost confidence that it will be approved. As for a time line on the approval. I believe it will be fast tracked as we move into the flu season, and rapid diagnostics will be essential to mitigating the spread of Covid-19. Boom Calendar for the end of September through October 16th will be completed tomorrow.
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