Sorrento Therapeutics Inc - Company Profile

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Sorrento Therapeutics Inc: Segment Analysis

Business Description

Sorrento Therapeutics Inc (Sorrento) focuses on developing medicines for chronic cancer pain, and autoimmune, inflammatory, viral, and neurodegenerative diseases. The company operates through two reportable segments: Sorrento Therapeutics, and Scilex. The company harnesses its proprietary G-MAB library and targeted delivery modalities to develop its product candidates.

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R&D Overview

Sorrento’s research and development efforts focus on advancing its FUJOVEE (Abivertinib), OVYDSO, SP-102, SP-103, RTX, oncolytic virus, ADC and oncology programs. It strives to identify and advance a number of fully human therapeutic antibodies and ADC preclinical product candidates and invest in joint ventures, collaborations and other third-party agreements. In FY2022, the company spent US$221 million on its R&D, which grew 6.9% YoY.

Business Segments

Overview

-Focuses on non-opioid pain management operations. -Reports revenue from the sale of ZTlido, a lidocaine topical system for relief of pain associated with post-herpetic neuralgia. -Its non-opioid therapeutic candidates under development includes SEMDEXA, an injectable viscous gel formulation in Phase III clinical trials indicated for the treatment of sciatica; and SP-103 is a non-aqueous lidocaine topical system in Phase II trials for acute low back pain conditions.

Performance

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Overview

-Focuses on Immune-Oncology therapeutic area. -Leverages its proprietary G-MAB antibody library and targeted delivery modalities including proprietary dimeric antigen receptor T-cell therapy (DAR-T), chimeric antigen receptor T-cell therapy (CAR-T), antibody drug conjugates (ADCs) and also bispecific antibody approaches to develop next generation cancer therapeutics. -The company is investigating pipelines for the treatment of cancer, pain control, autoimmune diseases and COVID-19. Its immunotherapy pipeline includes CD38 CART- T for the treatment of multiple myeloma (Phase I clinical trial completed); CD38 ADC for amyloidosis (Phase I clinical trial completed); Seprehvir and Seprehvec, an oncolytic virus programs for treating solid tumors (Phase I completed); CD38 DAR-T for multiple myeloma (Preclinical phase completed); Abivertinib for non-small cell lung carcinoma (Phase III trial). -Its RTX programs under development includes RTX (resiniferatoxin) epidural route for intractable pain in advanced cancer (Phase II completed); and RTX (resiniferatoxin) intra-articular route for moderate to severe osteoarthritis pain (Phase II completed) -Sorrento also investigating COVID1-19 programs in various stages including, Coviguard, a neutralizing antibody in Phase I for inpatients; Covi-Amg, a neutralizing antibody in Phase I for outpatients; Covidtrap, an ACE2 receptor decoy in preclinical phase for inpatients; Abivertinib in Phase II for severe COVID-19 in ICU patients. In addition, the company is also developing Covitrace, a diagnostic test and Covistix, an antigen test. -Also offers Sofusa (S-LDS), a drug delivery technology that delivers biologics into the lymphatic system directly in order to potentially achieve improved efficacy and lesser adverse effects than the standard parenteral immunotherapy. Its lymphatic delivery pipeline based on Sofusa includes Sofusa anti-TNF in Phase I for autoimmune diseases; and Sofusa anti-PD-1 in Phase I for cutaneous T cell lymphoma (CTCL).

Performance

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