Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of investors that purchased Sorrento Therapeutics, Inc. (NASDAQ: SRNE) common stock between May 15, 2020 and May 22, 2020 (the "Class Period"). Investors have until July 27, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Sorrento Therapeutics, Inc.

The law firm of Kirby McInerney LLP announces that it has filed a class action lawsuit in the U.S. District Court for the Southern District of California on behalf of those who acquired Sorrento Therapeutics, Inc. (“Sorrento” or the “Company”) (NASDAQ: SRNE) securities during the period from May 15, 2020 through May 22, 2020 (the “Class Period”). Investors have until July 27, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit. The lawsuit alleges that Sorrento failed to disclose that: (i) the Company’s initial finding of “100% inhibition” in an in vitro virus infection will not necessarily translate to success or safety in vivo, or in person; (ii) the Company’s finding was not a “cure” for COVID-19; and (ii) as a result of the foregoing, the lawsuit alleges that Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis in violation of section 10(b) of the Securities Exchange Act of 1934.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Sorrento Therapeutics, Inc. Investors

Shares of Sorrento Therapeutics Inc. rallied Tuesday, after a Wall Street analyst suggested the biopharmaceutical company was a good bet to successfully develop an “antibody cocktail” that could shield people from the COVID-19 virus.

Glancy Prongay & Murray LLP, a National Class Action Law Firm, Announces Investigation of Sorrento Therapeutics, Inc. (SRNE) on Behalf of Investors

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Sorrento Therapeutics, Inc. (SRNE) on Behalf of Investors

Companies In The News Are: EVFM, BNFT, SRNE, CLRB

If you purchased Sorrento securities between May 15, 2020 and May 22, 2020, inclusive (the “Class Period”), you are encouraged to contact Scott+Scott attorney Joe Pettigrew for additional information at (844) 818-6982 or jpettigrew@scott-scott.com. On May 8, 2020, Sorrento announced a collaboration with Mount Sinai Health System for the purpose of “generat[ing] antibody products that would act as a ‘protective shield’ against SARS-CoV-2 coronavirus infection, potentially blocking and neutralizing the activity of the virus in naive at-risk populations as well as recently infected individuals.” The Complaint alleges that Sorrento made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s initial finding of “100% inhibition” in an in vitro virus infection will not necessarily translate to success or safety in vivo, or in person; (2) the Company’s finding was not a “cure” for COVID-19; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

And the W’s just keep on coming for Sorrento Therapeutics (SRNE). Reflecting a major step forward in the advancement of its candidate, STI-6129, a CD38-targeting antibody-drug conjugate (ADC), the company received the all-clear from the FDA to submit an Investigational New Drug (IND) application.Part of the excitement surrounding this announcement is related to the design of the asset itself. STI-6129 was created using SRNE’s unique technology that includes a CD38-specific antibody identified from its fully human G-MAB antibody library, its patented drug payload Duostatin 5 and its site-specific CLOCK conjugation technology.On top of this, the company wants to kick off a Phase 1 multi-center, open-label, dose-escalation clinical trial in patients with advanced relapsed and/or refractory systemic amyloid light chain (AL) amyloidosis, with the primary goal being the identification of a Phase 2 dose for STI-6129.Commenting on the development for H.C. Wainwright, five-star analyst Raghuram Selvaraju thinks the asset “could constitute a next-generation approach to treatment of AL amyloidosis.”“The prospects for a CD38-targeted approach in this indication appear buttressed by data from a prospective Phase 2 trial of daratumumab, a well-known fully human monoclonal anti-CD38 antibody agent that is already commercially available for the treatment of multiple myeloma (MM) under the trade name DARZALEX... Renal response occurred in 10 of 15 patients (67%) with renal involvement and cardiac response occurred in seven out of 14 patients (50%) with cardiac involvement. In our view, these data bode well for the deployment of an anti-CD38 agent in AL amyloidosis,” Selvaraju added.As approximately 20,000 people are affected by AL amyloidosis in the U.S. alone, the indication represents a niche opportunity for SRNE. With the clinical benefit produced using daratumumab to treat AL amyloidosis serving as a partial proof-of-concept for STI-6129, it’s no wonder the news is promising, in Selvaraju’s opinion.Even though Selvaraju tells clients that the candidate has not been built into his models, he believes the announcement demonstrates “the steadily growing depth and breadth of Sorrento's pipeline.”Based on all of the above, Selvaraju stayed with the bulls. Along with a Buy rating, he kept a $24 price target on the stock. This indicates upside potential of a whopping 369%. (To watch Selvaraju’s track record, click here)  What does the rest of the Street think about SRNE’s long-term growth prospects? It has been relatively quiet when it comes to analyst activity, with the stock receiving only one other Buy rating in the last three months. This makes the consensus rating a Moderate Buy. In addition, the $24 average price target matches Selvaraju’s. (See Sorrento stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Sorrento Therapeutics, Inc. ("Sorrento" or the "Company") (NASDAQ: SRNE) common stock between May 15, 2020 and May 22, 2020, inclusive (the "Class Period"). Sorrento investors have until July 27, 2020 to file a lead plaintiff motion.

NEW YORK, NY / ACCESSWIRE / May 27, 2020 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Sorrento Therapeutics, Inc. ("Sorrento" or "the Company") (SRNE)and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Sorrento securities betweenMay 15, 2020 through May 22, 2020, inclusive (the ''Class Period''). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934. The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Sorrento's initial finding of "100% inhibition" in an in vitro virus infection will not necessarily translate to success or safety in vivo, or in person; (2) the Company's finding was not a "cure" for COVID-19; and (3) as a result of the foregoing, the lawsuit alleges that Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

New York, New York--(Newsfile Corp. - May 27, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Sorrento Therapeutics, Inc. (NASDAQ: SRNE) ("Sorrento" or the "Company") of the July 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi LogoIf you invested in Sorrento stock or options between May 15, 2020 ...

SAN DIEGO, May 26, 2020 -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") today announced it has received clearance from the U.S. Food and Drug Administration (FDA) for.

Sorrento Therapeutics Inc's (NASDAQ: SRNE) coronavirus program has been met with equal optimism and skepticism, which has led to wild swings in its stock price.The Sorrento AnalystDawson James Securities analyst Jason Kolbert initiated coverage of Sorrento with a Buy rating and a $24 price target.The Sorrento ThesisSorrento is proceeding with the goal of generating an antibody cocktail against SARS-CoV-2 coronavirus infection, which could remain effective even if virus mutations occur, Kolbert said in a Tuesday note.The analyst expects STI-1499 - Sorrento's first antibody in the planned antibody cocktail dubbed COVIDSHIELD - to move rapidly to commercialization, thanks to the U.S. Project Warp Speed.While the antibody showed 100% inhibition in early studies, the low dose suggests the antibody "fits" its target extraordinarily well and, as such, can work at a very low dose, Kolbert said.The analyst noted the company plans to engage with the regulators to determine the best pathway to make any potential treatment available as soon as possible. The company's management indicated it's well within its reach to produce tens of millions of doses in a short period of time to meet the vast projected demand."If we assume pricing below Remdesivir ($4k) and a million doses equals a $4 billion opportunity for this potential antidote," Kolbert said.SRNE Price ActionSorrento shares were up 4% to $5.27 at time of publication.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Latest Ratings for SRNE DateFirmActionFromTo May 2020Dawson JamesInitiates Coverage OnBuy Mar 2020H.C. WainwrightReiteratesBuy Oct 2019JMP SecuritiesInitiates Coverage OnMarket Outperform View More Analyst Ratings for SRNE View the Latest Analyst Ratings See more from Benzinga * The Week Ahead In Biotech: ASCO Presentations In The Spotlight * The Daily Biotech Pulse: FDA Nod For Roche, Arbutus Releases Positive Readout For HBV Therapy, Moderna Announces .34B Common Stock Offering(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Sorrento Therapeutics, Inc. (“Sorrento” or the “Company”) investors that acquired Sorrento securities (NASDAQ: SRNE) between May 15, 2020 and May 22, 2020. Eligible Sorrento investors have until July 27, 2020 to request that the Court appoint you as lead plaintiff. The complaint alleges that the Company misled investors regarding the viability of its COVID-19 vaccine.

LOS ANGELES, CA / ACCESSWIRE / May 27, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sorrento Therapeutics, Inc. ("Sorrento" or "the Company") (NASDAQ:SRNE) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between May 15, 2020 and May 22, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before July 27, 2020.

The Law Offices of Frank R. Cruz announces an investigation on behalf of Sorrento Therapeutics, Inc. ("Sorrento" or the "Company") (NASDAQ: SRNE) investors concerning the Company and its officers’ possible violations of federal securities laws.

How do we protect those at the frontline facing COVID-19 head on? Sorrento Therapeutics (SRNE) is on it.Looking at billions of antibodies, the company identified a small group that demonstrated the ability to block the S1 protein's interaction with human angiotensin-converting enzyme 2 (ACE2), the receptor used for viral entrance into human cells. Based on this, SRNE wants to develop an antibody cocktail against SARS-CoV-2, the virus that causes COVID-19, that is still effective even if mutations occur.Weighing in for Dawson James, analyst Jason Kolbert tells clients that SRNE’s antibody, STI-1499, has already exhibited a strong performance in an early clinical setting. Expounding on this, he stated, “What was also equally impressive was the low dose, which suggests the antibody ‘fits’ its target extraordinarily well and, as such, can work at a very low dose. This could translate into the ability to scale up rapidly to millions of treatments at a very effective cost of goods.”It should be noted that the company is set to develop STI-1499 as part of this “antibody cocktail,” known as COVISHIELD, with it hoping to discuss the best pathway to make any potential treatment available as quickly as possible with regulators. Kolbert added, “Through the U.S.'s Project Warp Speed, it's possible we could see STI-1499 move rapidly to commercialization.”Adding to the good news, management said that it has the capacity to produce up to two hundred thousand doses per month. While the current goal is to manufacture a million doses, the company thinks it can produce tens of millions of doses in a short timeframe.Speaking to the market opportunity, Kolbert commented, “We see a significant market opportunity in treating frontline workers (doctors, nurses and other mission critical personnel, as well as occupants of military ships at sea) to prevent and treat COVID infection. If we assume pricing below Remdesivir ($4,000) and a million doses equals a $4 billion opportunity for this potential antidote.”STI-1499 isn’t the only thing the company has going for it. Through its majority owned position in Scilex, SRNE is working on several non-opioid pain management therapies including resiniferatoxin, a toxin that ablates afferent nerves, as well as Scilex SP-102, an epidural steroid injection designed as a treatment of sciatica pain. It also boasts cell therapy programs that target both solid and liquid tumors.To this end, Kolbert initiated coverage on Sorrento shares with a Buy rating, while setting a $24 price target. This target puts the upside potential at a whopping 373%. (To watch Kolbert’s track record, click here)Judging by the consensus breakdown, it has been relatively quiet when it comes to other analyst activity. Only one review has been issued recently, and it was bullish, so the consensus rating is a Moderate Buy. (See Sorrento stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

NEW YORK, NY / ACCESSWIRE / May 25, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Sorrento Therapeutics, Inc. ("Sorrento" or the "Company") (SRNE). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. The investigation concerns whether Sorrento and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.