Sorrento Therapeutics, Inc. (Sorento) is a clinical stage, antibody-centric, biopharmaceutical company developing new therapies to turn malignant cancers into manageable and possibly curable diseases. Sorrento's multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies (“G-MAB™ library”), clinical stage immuno-cellular therapies (“CAR-T”), intracellular targeting antibodies (“iTAbs”), antibody-drug conjugates (“ADC”), and clinical stage oncolytic virus (“Seprehvir®”). Also, its non-opioid pain management small molecule in resiniferatoxin (“RTX”) is being studied in a phase 1B trial in terminal cancer patients. ZTlido lidocaine delivery system is in FDA approval process.

Sorrento is a revenue generating biopharmaceutical company with a robust development pipeline of clinical trials. The Company is in IND filing for its potential-blockbuster immuno-oncology product CD38 CAR-T (engineered immune cells to treat cancer) treating Multiple Myeloma (MM), a $28 billion market opportunity. A second product, CD38 ADC, treating MM, is in IND-enabling studies.

Similar companies with CD38 drug are valued at much higher valuations. Genmab A/S is valued at $10 billion, and licensed its product to Janssen Pharmaceutica NV (Darzalex) for treatment of MM, and is expected to generate $5.8 billion in sales in 2022. Also, other companies in CAR-T cell therapy space (CD19 CAR-T) have been valued at much higher valuations: Juno Therapeutics, Inc. (NASDAQ: JUNO) at $5.1 billion and Bluebird Bio, Inc. (NASDAQ: BLUE) at $8.4 billion.

In addition, Sorrento’s non-opioid pain management product ZTlido is in FDA approval process and is expected to be approved in 1Q18. With multiple milestones ahead in 2018, Sorrento is significantly undervalued to its peers in CAR-T cell space, and investors have a unique opportunity to build a position in a fast-growing company.


  • Sorrento is in IND filing stage for its potential-blockbuster immuno-oncologyproduct CD38 CAR-T treating Multiple Myeloma
    • First human trial expected in 1H18
    • Similar products in CD38 antibody or CAR-T cell therapies are valued at muchhigher valuation:
      • GenMab valued at $10 billion; Darzalex treating MM expected to generate $5.8billion in sales in 2022

  • Company developing most advanced CD38 CAR-T program
    • CAR-T based on fully human anti-CD38 antibody
    • Different binding site than Darzalex on CD38

  • Non-opioid pain management product ZTlido is in FDA approval process
    • FDA approval estimated in 1Q18

  • Company generated $121.9M in 3Q17, a net increase of $119.7M from 3Q16

More Information | Company Website


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