Sorrento Therapeutics: Staging For Another Run
Updated: Aug 27, 2020
Sorrento shareholders have been on a wild ride as of late. I will briefly give you my view of the current events, what my thoughts are on them, and what I expect moving forward.
Hindenburg Short Seller Tweet
I'm gonna be very brief on this BS of a tweet. When SRNE popped to around 10.60 in May on news about STI-1499 being a potential cure, short seller Hindenburg wanted to twist the truth, and scare new traders into selling . Hindenburg made up some BS about Henry Ji claiming that he made false claims about having a cure. As you will see later in this article, Henry Ji's statements claiming he had a "potential cure", are looking more like COVI-SHIELD is a cure and preventative potent cocktail.
Needless to say, the bulls squeezed Hindenburg and Lakewood short positions, from around $3.82, all the way up to $21 and some change. Not only that, almost all the ambulance chasers have disappeared, but one case that will be settled for pennies or thrown out, now that there is evidence that Sorrento Therapeutics potent antibodies have already been tested in humans "with good prospect of results in patients with covid-19." I've been there and dealt with Hindenburg on many stocks he has attacked. He has been wrong here with SRNE, and paid dearly for short selling. It's sad how Hindenburg is allowed to spread fear, and scare new traders, but that's the way it is. Now about the spit test, COVI-TRACE. Hindenburg tried to compare COVI-TRACE to Yale's spit test which has a 3 hour turnaround. Absolutely preposterous that he would compare Yale's 3 hour turn around test with a test that has thirty minute turnaround, with point of care capabilities. Again, the report was enough to shed the fat of new traders that got scared. News of Brazil trials is a confirmation of my expectations that Sorrento Therapeutics was already testing COVI-GUARD (STI-1499) and COVI-SHIELD internationally. If your a bull I would be scouring news of international studies moving forward. Below is a photo from this new article and the link so you can read.
We have very little knowledge of why CFO was terminated. My biggest fear was that there was fraud, but if there was, he would of been in jail. That is music to my ears, as Sorrento Therapeutics tackled the problem and terminated him for another reason. This is not a big worry to me as it was for many traders that sold on that news. Sorrento Therapeutics just might not clarify what the reason for termination was, and just move on with all the positive news that will be coming out. The positives outweigh the negatives.
International Studies of Antibodies
Genius move by Sorrento to initiate human trials of antibodies in other countries before starting trials in United States. With the submission of the IND of STI-1499, the FDA will have plenty of data to approve this trial. I have mentioned on my Stocktwits account, handle being BoomTradesBio that phase 1b trials will be a Slam Dunk. In more professionals terms, COVI-GUARD will easily show safety and efficacy, as it already has in other countries. This is momentum changing news! I'm putting this link below again.
Point of care diagnostics is an absolute must in order to diagnose Covid-19, and trace at point of care. All these these tests that have a turnaround time of 3hrs, to several days and weeks become history, as medical professionals need to be able to have rapid results, and quarantine if positive immediately. Below is a great video of Dr. Zev Willams explaining the problem of current diagnostics, and in detail, how COVI-TRACE solves that problem.