Sorrento Therapeutics, Inc. (SRNE) [Rocket]

Overview

Sorrento Therapeutics, Inc. (SRNE)

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Recent News + Filings (All items)

Date Filed	Type	Description
10/05/2023	8-K	Entry into a Material Definitive Agreement, Financial Statements and Exhibits  Interactive Data
10/05/2023	SC 13G/A	Sorrento Therapeutics, Inc. reports a 2.6% stake in CELULARITY INC.
10/05/2023	4	Sorrento Therapeutics, Inc. (10% Owner) has filed a Form 4 on Celularity Inc
09/26/2023	8-K	Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Completion of Acquisition or Disp...
09/26/2023	SC 13D/A	Sorrento Therapeutics, Inc. reports a 1.3% stake in Scilex Holding Company
08/21/2023	8-K	Regulation FD Disclosure, Financial Statements and Exhibits  Interactive Data
08/10/2023	8-K	Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance S...

Revenue Mix by Segment

Financial Summary (All financials)

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
Revenues	52.9	40.0	31.4	21.2	151.9	8.2	4.6	3.8
Revenue growth	32.3%	27.2%	48.3%	-86.0%	1762.8%	77.6%	20.0%	731.5%
Cost of goods sold	223.2	130.2	108.6	19.7	6.7	0.8	2.0	2.0
Gross profit	-170.3	-90.2	-77.2	1.5	145.1	7.3	2.6	1.8
Gross margin	-321.9%	-225.5%	-245.7%	7.0%	95.6%	90.1%	57.5%	46.6%
Selling, general and administrative	231.1	154.3	182.2
Research and development	206.9	111.3	106.9	77.0	55.5	87.2	55.4	24.2
General and administrative				63.6	38.3	24.2	20.1	10.0
EBIT	-367.9	-202.9	-185.0	-134.5	11.0	-98.1	-8.8	-34.7
EBIT margin	-695.4%	-507.4%	-588.7%	-634.6%	7.3%	-1203.6%	-191.1%	-908.3%
Pre-tax income	-462.7	-316.4	-363.5	-218.8	-24.9	-65.3	-9.7	-36.4
Income taxes	-33.5	-2.0	-0.5	-6.3	-36.0	-0.9	36.3	-1.7
Tax rate	7.2%	0.6%	0.1%	2.9%	144.6%	1.4%		4.7%
Net income	-428.3	-298.5	-292.1	-203.5	9.1	-60.9	-45.8	-34.7
Net margin	-809.6%	-746.4%	-929.2%	-960.4%	6.0%	-747.3%	-998.1%	-906.1%

Diluted EPS	($1.45)	($1.30)	($2.08)	($1.92)	$0.13	($1.21)	($1.24)	($1.30)
Shares outstanding (diluted)	294.8	229.8	140.5	106.2	70.4	50.4	36.9	26.7

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.