In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Sorrento Therapeutics Inc. (NASDAQ:SRNE) that Ally Bridge Group Capital Partners Ii, L.p. has picked up 1,397,853 of common stock as of 2017-07-10.
The acquisition brings the aggregate amount owned by Ally Bridge Group Capital Partners Ii, L.p. to a total of 1,397,853 representing a 1.8% stake in the company.
For those not familiar with the company, Sorrento Therapeutics, Inc. is a biopharmaceutical company. The Company is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. Its primary therapeutic focus is oncology, including the treatment of chronic cancer pain. It is also developing therapeutic products for other indications, including immunology and infectious diseases. Its products in the pipeline include Chimeric Antigen Receptor-T Cell (CAR-T) programs, resiniferatoxin (RTX), and biosimilar/biobetter antibodies clinical development programs. Its pipeline also includes preclinical fully human therapeutic monoclonal antibodies (mAbs), including biosimilars/biobetters, fully human anti-PD-L1 and anti-PD-1 checkpoint inhibitors derived from its G-MAB library platform, antibody drug conjugates (ADCs), bispecific antibodies (BsAbs), as well as CAR-T and Chimeric Antigen Receptor Natural Killer (NK) cells (CAR. NK) for adoptive cellular immunotherapy.
A glance at Sorrento Therapeutics Inc. (NASDAQ:SRNE)’s key stats reveals a current market capitalization of $153.12 Million based on $76.51 Million shares outstanding and a price at last close of $1.95 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-06-15, Ji picked up 9,000 at a purchase price of $1.84. This brings their total holding to 29,001 as of the date of the filing.
On the sell side, the most recent transaction saw Ng unload 40,000 shares at a sale price of $5.15. This brings their total holding to 49,338.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Sorrento Therapeutics Inc. (NASDAQ:SRNE) as things move forward to see if its progress aligns with these transactions.
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