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SRNE Price Correlated With Financials For Sorrento Therapeutics

Free historical financial statements for Sorrento Therapeutics Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 43 quarters since 2012. Compare with SRNE stock chart to see long term trends.

SRNE Stock Compared to Quarterly

SRNE Income Statement

Revenue, Net:17400000
Revenue Per Share:0.0369
Selling, General & Admin Expense:50159000
Research & Development Expense:67989000
Total Operating Expenses:126843000
Operating Income:-109443000
Income Taxes:-1015000
Net Income:-90625000
Earnings Per Share, Basic:-0.2
Shares Outstanding, Basic Avg:471880267

SRNE Cash Flow

Operating Activities Net Income:
Depreciation, Depletion & Amortization:3358000
Net Cash from Operations:-61171000
Net Cash from Operations Per Share:-0.1296
Net Cash from Financing Activities:71498000
Property, Plant & Equipment Purchases:3835000
Net Cash from Investing Activities:-8092000
Net Change in Cash & Equivalents:2235000

SRNE Balance Sheet

Cash and Cash Equivalents:70686000
Short-Term Investments:47175000
Accounts Receivable, Net:24190000
Total Current Assets:176957000
Property, Plant & Equipment, Net:43634000
Total Assets:615614000
Accounts Payable:38391000
Current Portion of Long-Term Debt:52907000
Total Short-Term Liabilities:201980000
Long Term Debt, Non-Current Portion:17800000
Total Liabilities:485408000

Major Holders (from 13F filings)

Investment Type
Value (x$1000)
increase or decrease
State Street Corp
40,669,276 sh
1,008,177 sh
Blackrock Inc.
34,179,567 sh
229,010 sh
Vanguard Group Inc
22,516,574 sh
1,620,150 sh
Geode Capital Management, LLC
7,108,284 sh
215,337 sh
D. E. Shaw & Co., Inc.
5,056,963 sh
-824,439 sh
Northern Trust Corp
3,437,600 sh
620,662 sh
JPMorgan Chase & Co
3,027,854 sh
-241,183 sh
Goldman Sachs Group Inc
3,010,140 sh
1,070,161 sh
Rafferty Asset Management, LLC
2,994,674 sh
1,243,608 sh
Susquehanna International Group, Llp
2,942,163 sh
1,810,963 sh
Charles Schwab Investment Management Inc
2,833,661 sh
66,757 sh
Citigroup Inc
2,695,925 sh
915,370 sh
Nuveen Asset Management, LLC
2,103,980 sh
556,799 sh
Barclays Plc
1,995,651 sh
1,829,031 sh
Bank Of America Corp /De/
1,819,959 sh
430,967 sh
Citadel Advisors LLC
1,549,054 sh
1,330,054 sh
Mirae Asset Global Investments Co., Ltd.
1,510,781 sh
175,710 sh
Wells Fargo & Company/Mn
1,320,592 sh
-18,594 sh
Bank Of New York Mellon Corp
1,314,634 sh
105,495 sh
Susquehanna International Group, Llp
Put options for 1,101,000 sh
1,101,000 sh
2. Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations and Basis of Presentation
The Company is a biopharmaceutical company focused on the discovery, development and commercialization of novel and proprietary
biotherapeutics for the treatment of a variety of disease conditions, including cancer, inflammation, metabolic and infectious diseases. The Company’s objective is to either independently or through one or more partnerships with pharmaceutical
or biopharmaceutical organizations identify drug development candidates derived from the libraries. See Note 10.
As of
December 31, 2012, the Company has devoted substantially all of its efforts to product development, raising capital and building infrastructure, and has not realized revenues from its planned principal operations. Accordingly, the Company is
considered to be in the development stage.

The accompanying
consolidated financial statements include the accounts of the Company’s wholly-owned subsidiary, Sorrento Therapeutics, Inc. Hong Kong Limited, or Sorrento Hong Kong, which was registered effective December 4, 2012. Sorento Hong Kong had
no operations in 2012. All inter-company balances and transactions have been eliminated in consolidation.
Liquidity and Going Concern

The accompanying consolidated financial statements have been prepared on the going concern basis, which assumes that the Company will continue to operate as a going concern and which contemplates the
realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As reflected in the accompanying consolidated financial statements, the Company has a net loss of $4,845,308, net cash used for operations of
$3,797,476 and net cash used for investing activities of $547,884, for the year ended December 31, 2012. As of December 31, 2012, the Company also has an accumulated deficit of $10,950,299 and working capital of $4,667,817.
In February 2013, the Company entered into a loan and security agreement with a bank which provided the Company with an equipment loan
for up to $1,000,000. In March 2013, the Company entered into: (i) a stock purchase agreement and issued 33,658,305 shares of common stock for aggregate gross proceeds of $6,418,495 and (ii) the transactions with IgDraSol, Inc.
(IgDraSol). The Company intends to acquire IgDraSol in 2013. See Note 10.
The Company anticipates that it will continue to
incur net losses into the foreseeable future as it: (i) continues to identify and advance a number of potential drug candidates into preclinical development activities, (ii) acquires IgDraSol and continues to fund its operations, and (iii) expands
its corporate infrastructure, including the costs associated with being a public company. Without additional funding, management believes that the Company will not have sufficient funds to meet its obligations beyond October 2013. These conditions
give rise to substantial doubt as to the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
The Company plans to continue to fund its losses from operations and capital funding needs through public or private equity or debt
financings, strategic collaborations, licensing arrangements, asset sales, government grants or other arrangements. However, the Company cannot be sure that such additional funds will be available on reasonable terms, or at all. If the Company is
unable to secure adequate additional funding, the Company may be forced to make reductions in spending, extend payment terms with suppliers, liquidate assets where possible, and/or suspend or curtail planned programs. In addition, if the Company
does not meet its payment obligations to third parties as they come due, it may be subject to litigation claims. Even if the Company is successful in defendi

Data imported from Sorrento Therapeutics Inc SEC filings. Check original filings before making any investment decision.