Sorrento has the potential to offer the best variety of products

  • Cantor Fitzgerald begins reporting on Sorrento Therapeutics Inc (NASDAQ: SRNE) with an Overweight rating and price target is $5.

  • Sorrento has the potential to deliver many of the best in the high-value areas of cancer, pain and infectious disease, the analyst said, highlighting three value drivers:

    • Scilex’s ability to relieve non-opioid pain. Its pain relief portfolio now features marketing and pipeline programs, which could unlock even more meaningful value.

    • Potential of Abivertinib in non-small cell lung cancer

    • The conservative background value is supposed to allow investors to reap rewards from current levels in the short and longer term as other pipeline schemes come into existence.

  • In August, abivertinib showed significant therapeutic benefits in 209 pre-treated NSCLC patients, evaluated for response, with an ORR of 56.5%.

  • Significant CR rates were seen with Abivertinib (5.3%) vs AstraZeneca Plc’s (NASDAQ: AZN) Tagrisso (osimertinib) (0.5%), survival 28.2 months (compared to Tagrisso’s median OS of 26.8 months).

  • Price action: SRNE stock was down 0.95% at $1.57 at its last test on Wednesday.

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