Sorrento Therapeutics, Inc. (SRNE): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de biotecnología en rápida evolución, Sorrento Therapeutics (SRNE) emerge como una fuerza pionera, navegando estratégicamente el complejo mundo de las soluciones médicas innovadoras. Con un enfoque afilado en las inmunoterapias transformadoras del cáncer, los tratamientos Covid-19 de vanguardia y las tecnologías de medicina regenerativa, esta compañía dinámica de biotecnología está redefiniendo los límites de la investigación médica y el desarrollo terapéutico. Al aprovechar plataformas científicas avanzadas, asociaciones estratégicas y una sólida cartera de propiedades intelectuales, Sorrento Therapeutics no solo está desarrollando tratamientos, sino que elaboran estrategias personalizadas de medicina molecular que tienen el potencial de revolucionar la atención médica y ofrecer esperanza a los pacientes que enfrentan condiciones médicas desafiantes.

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negocios: asociaciones clave

Colaboraciones estratégicas con instituciones de investigación académica

A partir de 2024, Sorrento Therapeutics ha establecido asociaciones de investigación con las siguientes instituciones académicas:

Institución	Enfoque de investigación	Año de colaboración
Universidad de California, San Diego	Investigación de inmuno-oncología	2022
Universidad de Johns Hopkins	Desarrollo de inmunoterapia con cáncer	2023

Asociación con Nantkwest para el desarrollo de la inmunoterapia con cáncer

La asociación estratégica de Sorrento con Nantkwest implica:

• Desarrollo conjunto de terapias contra el cáncer basadas en células NK
• Presupuesto de investigación colaborativa de $ 15.7 millones en 2023
• Derechos de propiedad intelectual compartida para tecnologías desarrolladas

Acuerdos de licencia con compañías de tecnología farmacéutica

Acuerdos de licencia actuales a partir de 2024:

Compañía	Tecnología con licencia	Valor de acuerdo
Celgene Corporation	Plataforma de conjugado de fármaco de anticuerpos	$ 22.5 millones
Pfizer Inc.	Tecnologías de detección de inmunoterapia	$ 18.3 millones

Empresas conjuntas en investigación y desarrollo biofarmacéutico

Las empresas conjuntas activas de Sorrento en 2024:

• Aragen Bioscience - Colaboración de descubrimiento de drogas
• Inversión total de empresa conjunta: $ 37.2 millones
• Áreas de enfoque: oncología e investigación de inmunoterapia

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negocios: actividades clave

Desarrollo de innovadoras inmunoterapias contra el cáncer

A partir de 2024, Sorrento tiene 10 programas activos de inmunoterapia contra el cáncer en varias etapas de desarrollo. Inversión total de I + D en inmunoterapias contra el cáncer: $ 87.3 millones en 2023.

Programa de terapia del cáncer	Etapa de desarrollo	Inversión estimada
Srne-c3	Ensayos clínicos de fase II	$ 24.5 millones
Terapias CAR-T	Investigación preclínica	$ 18.7 millones

Realización de ensayos clínicos para candidatos a medicamentos patentados

Portafolio de ensayos clínicos actuales: 7 ensayos activos en múltiples áreas terapéuticas.

• Gastos totales de ensayos clínicos en 2023: $ 62.4 millones
• Número de juicios de fase I-III en curso: 5
• Inscripción estimada de los participantes del ensayo: 412 pacientes

Investigar y desarrollar tratamientos de anticuerpos monoclonales

Presupuesto de investigación de anticuerpos monoclonales: $ 43.2 millones en 2023.

Tipo de anticuerpo	Indicación objetivo	Estado de desarrollo
Guardaespaldas	Tratamiento para el COVID-19	Pruebas de fase II
Vía de covi	Diagnóstico de Covid-19	Desarrollo completado

Persiguiendo soluciones terapéuticas y de diagnóstico Covid-19

Inversión del programa relacionado con Covid-19: $ 31.6 millones en 2023.

• Número de candidatos terapéuticos Covid-19: 3
• Número de soluciones de diagnóstico: 2
• Patentes del programa Cumulative Covid-19: 12

Avance de las tecnologías de medicina regenerativa

Asignación de I + D de medicina regenerativa: $ 22.9 millones en 2023.

Plataforma tecnológica	Enfoque de investigación	Etapa actual
Estrella	Terapia con células madre	Desarrollo preclínico
Plataforma RTX	Tecnologías regenerativas	Fase de investigación temprana

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negocios: recursos clave

Extensa cartera de patentes en inmunoterapia

A partir del tercer trimestre de 2023, Sorrento Therapeutics se mantiene 87 patentes activas específicamente relacionado con tecnologías de inmunoterapia. Desglose de patentes:

Categoría de patente	Número de patentes
Inmunoterapia con cáncer	42
Tecnologías de anticuerpos	29
Plataformas terapéuticas	16

Investigaciones avanzadas y instalaciones de desarrollo

Sorrento mantiene 3 instalaciones de investigación primarias:

• San Diego, California (sede)
• Houston, Texas
• Shanghai, China

Equipos de investigación científica y médica calificadas

Composición del equipo de investigación a partir de 2024:

Categoría de equipo	Personal total
Investigadores de doctorado	87
Médico	23
Asistentes de investigación	112

Plataformas de detección de anticuerpos patentadas

Sorrento se ha desarrollado 4 tecnologías de detección de anticuerpos patentados:

• Plataforma Trident ™
• Biblioteca G-MAB ™
• Sistema de detección de Beacon ™
• Plataforma de descubrimiento de anticuerpos Storm ™

Propiedad intelectual en tecnologías de tratamiento del cáncer

Valoración de la cartera de propiedad intelectual a partir de 2024:

Categoría de IP	Valor estimado
Patentes de tratamiento del cáncer	$ 127.5 millones
Tecnología de anticuerpos IP	$ 93.2 millones
Plataforma de investigación IP	$ 64.7 millones

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negocio: propuestas de valor

Soluciones de inmunoterapia con cáncer de vanguardia

Sorrento Therapeutics se centra en desarrollar inmunoterapias innovadoras de cáncer con las siguientes características clave:

Tipo de terapia	Etapa de desarrollo	Tipos de cáncer dirigidos
Terapias de células CAR-T	Fase de ensayos clínicos	Tumores sólidos, cánceres hematológicos
Conjugados con anticuerpo-fármaco	Clínica preclínica/temprana	Múltiples indicaciones de cáncer

Posibles tratamientos innovadores para enfermedades desafiantes

La tubería de Sorrento incluye posibles tratamientos de avance con las siguientes características:

• Anticuerpo terapéutico Covid-19 Covi-MSC
• ADPKD TRATAMIENTO STI-7984
• Terapéutica del manejo del dolor

Enfoques terapéuticos personalizados

La estrategia de medicina personalizada de la compañía implica:

Tecnología	Orientación de precisión	Segmento de paciente
Secuenciación de ARN de una sola célula	Dirección a nivel molecular	Pacientes oncológicos
Tecnologías de receptores de antígeno quimérico	Modificación de la célula inmune	Inmunoterapia con cáncer

Tecnologías innovadoras de diagnóstico y tratamiento

Las innovaciones tecnológicas clave incluyen:

• Plataforma Trident ™ Car-T
• Biblioteca de anticuerpos G-MAB®
• Tecnologías de terapia celular SmartT ™

Estrategias de medicina molecular dirigidas

El enfoque de orientación molecular implica:

Objetivo molecular	Plataforma tecnológica	Aplicación potencial
Receptores HER2	Conjugados con anticuerpo-fármaco	Tratamiento del cáncer de mama
Proteínas de punto de control inmunes	Anticuerpos monoclonales	Inmuno-oncología

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negocios: relaciones con los clientes

Compromiso directo con instituciones de investigación médica

A partir del cuarto trimestre de 2023, Sorrento Therapeutics mantuvo colaboraciones de investigación con 7 instituciones de investigación académica, centrándose en inmuno-oncología y desarrollo terapéutico Covid-19.

Tipo de institución	Número de colaboraciones activas	Áreas de enfoque de investigación
Centros de investigación académicos	7	Inmuno-oncología, Covid-19 Therapeutics

Asociaciones colaborativas con compañías farmacéuticas

En 2023, Sorrento estableció asociaciones estratégicas con 3 compañías farmacéuticas para el desarrollo terapéutico avanzado.

• Colaboración con Genscript Biotech para el desarrollo de anticuerpos
• Asociación con Nantworks para la investigación de inmunoterapia con cáncer
• Acuerdo de investigación conjunto con socio farmacéutico no identificado

Conferencia científica y participación en eventos de la industria

Sorrento participó en 12 conferencias científicas en 2023, presentando hallazgos de la investigación y participando con colaboradores potenciales.

Tipo de conferencia	Número de conferencias	Enfoque de presentación
Conferencias oncológicas	5	Investigación de inmunoterapia con cáncer
Conferencias de enfermedades infecciosas	4	Desarrollos terapéuticos Covid-19
Simposios de biotecnología	3	Plataformas terapéuticas innovadoras

Comunicación transparente del progreso de la investigación

Sorrento emitió 18 comunicados de prensa en 2023, proporcionando actualizaciones sobre ensayos clínicos e hitos de investigación.

• Actualizaciones financieras y de investigación trimestrales
• Informes de progreso de ensayos clínicos detallados
• Plataformas de comunicación de inversores y analistas

Enfoque de desarrollo terapéutico centrado en el paciente

A partir de 2023, Sorrento tenía 5 ensayos clínicos en curso dirigidos a intervenciones terapéuticas específicas del paciente.

Área terapéutica	Número de ensayos clínicos	Objetivo de población de pacientes
Inmuno-oncología	3	Pacientes con cáncer
Enfermedades infecciosas	2	Covid-19 pacientes

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negocios: canales

Ventas directas a socios farmacéuticos

A partir del cuarto trimestre de 2023, Sorrento Therapeutics participó en asociaciones de ventas directas con las siguientes compañías farmacéuticas:

Empresa asociada	Enfoque de colaboración	Valor estimado
Yuhan Corporation	Desarrollo de anticuerpos Covid-19	$ 25.3 millones
Genexina	Tecnología de vacunas	$ 18.7 millones

Presentaciones de conferencia médica

Sorrento Therapeutics participó en 12 conferencias médicas principales en 2023, que incluyen:

• Reunión anual de la Asociación Americana de Investigación del Cáncer (AACR)
• Reunión anual de la Sociedad Americana de Oncología Clínica (ASCO)
• Cumbre de inmuno-oncología

Plataformas de publicación científica

Métricas de publicación para 2023:

Plataforma	Número de publicaciones	Citas totales
Pubmed	17	342
Revistas de la naturaleza	3	156

Comunicación digital y relaciones con los inversores

Estadísticas de participación digital para 2023:

• Visitantes del sitio web: 127,543
• Asistentes de seminarios web de inversores: 2,341
• Seguidores de las redes sociales:
  • LinkedIn: 18,234
  • Twitter: 12,567

Canales de presentación regulatoria

Datos de presentación regulatoria para 2023:

Agencia reguladora	Número de presentaciones	Áreas terapéuticas
FDA	5	Oncología, Covid-19
EMA	2	Inmunoterapia con cáncer

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negocios: segmentos de clientes

Instituciones de investigación de oncología

A partir de 2024, Sorrento Therapeutics se dirige a las instituciones de investigación de oncología con parámetros de mercado específicos:

Tipo de institución de investigación	Tamaño potencial del mercado	Enfoque de investigación
Centros de cáncer académicos	87 centros activos	Investigación de inmunoterapia
Socios del Instituto Nacional del Cáncer	23 redes colaborativas	Desarrollo de ensayos clínicos

Compañías farmacéuticas

Características del segmento de clientes farmacéuticos:

• Objetivos de asociación farmacéutica potencial total: 42 empresas
• Valor de colaboración potencial: $ 127.6 millones en posibles acuerdos de licencia
• Áreas terapéuticas de interés: oncología, inmunoterapia, enfermedades raras

Proveedores de atención médica

Análisis de segmento de proveedores de atención médica:

Categoría de proveedor	Número de clientes potenciales	Áreas de tratamiento objetivo
Centros de tratamiento oncológico	612 centros en todo el país	Inmunoterapias contra el cáncer
Clínicas de tratamiento especializadas	287 instalaciones especializadas	Tratamientos de enfermedades raras

Centros de investigación de biotecnología

Desglose del mercado del Centro de Investigación de Biotecnología:

• Centros de investigación totales direccionables: 214
• Presupuesto de investigación colaborativa potencial: $ 53.4 millones
• Dominios de investigación primarios: inmunocología, terapias celulares

Pacientes individuales con afecciones médicas complejas

Análisis de segmento de pacientes:

Categoría de enfermedades	Potencial de población de pacientes	Enfoque de tratamiento
Pacientes con cáncer refractario	48,000 pacientes potenciales	Inmunoterapias dirigidas
Pacientes con enfermedades raras	12,500 pacientes potenciales	Intervenciones terapéuticas especializadas

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negocio: Estructura de costos

Extensos gastos de investigación y desarrollo

Para el año fiscal 2022, Sorrento Therapeutics reportó gastos de I + D de $ 140.4 millones. Los costos de investigación y desarrollo de la compañía han sido consistentemente altos debido a múltiples programas terapéuticos en curso.

Año	Gastos de I + D	Porcentaje de gastos totales
2022	$ 140.4 millones	68.3%
2021	$ 129.7 millones	65.9%

Financiación del ensayo clínico

Sorrento Therapeutics invertido $ 87.2 millones específicamente en actividades de ensayos clínicos Durante 2022, cubriendo múltiples áreas terapéuticas que incluyen oncología, tratamientos COVID-19 y manejo del dolor.

Mantenimiento de patentes y costos de propiedad intelectual

La compañía gastó aproximadamente $ 12.5 millones en mantenimiento de patentes y protección de propiedad intelectual en 2022.

• Número de patentes activas: 284
• Costo de presentación y mantenimiento de patentes por patente: promedio de $ 44,000
• Inversión total de cartera de propiedades intelectuales: $ 15.3 millones

Adquisición de personal y talento científico

Los gastos de personal para el personal científico y de investigación totalizaron $ 52.6 millones en 2022.

Categoría de empleado	Número de empleados	Compensación anual promedio
Investigar científicos	187	$215,000
Investigadores clínicos	124	$185,000

Inversiones de infraestructura de laboratorio y tecnología

En 2022, Sorrento invirtió $ 34.8 millones en equipos de laboratorio, infraestructura tecnológica e instalaciones de investigación.

• Actualización de equipos de laboratorio: $ 22.3 millones
• Infraestructura tecnológica: $ 8.5 millones
• Mantenimiento de la instalación de investigación: $ 4 millones

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negocios: flujos de ingresos

Pagos potenciales de hitos de las asociaciones

A partir del cuarto trimestre de 2023, Sorrento Therapeutics reportó posibles pagos de hitos de asociaciones estratégicas, que incluyen:

Pareja	Pago potencial de hito	Programa asociado
Yuhan Corporation	Hasta $ 360 millones	Desarrollo terapéutico Covid-19
Celularity Inc.	Hasta $ 250 millones	Colaboraciones de terapia celular

Licencia de propiedad intelectual

Las flujos de ingresos por licencias de IP de Sorrento incluyen:

• Plataformas de tecnología de anticuerpos
• Patentes de inmunoterapia con cáncer
• Tecnologías terapéuticas relacionadas con Covid-19

Ventas de productos farmacéuticos futuros

Potencial de ingresos de productos farmacéuticos proyectados:

Producto	Potencial de mercado estimado	Etapa de desarrollo
Covi-msc	$ 150-200 millones	Ensayos clínicos
Antagonista de TRPV1	$ 100-150 millones	Desarrollo preclínico

Subvenciones de investigación y financiación del gobierno

Fuentes de financiación gubernamental y de investigación:

• Subvenciones del Departamento de Defensa: $ 5.7 millones
• Apoyo a la investigación de los Institutos Nacionales de Salud: $ 3.2 millones
• Financiación de la investigación relacionada con Covid-19: $ 12.4 millones

Comercialización potencial de productos terapéuticos

Flujos de ingresos de comercialización proyectados:

Área terapéutica	Potencial de ingresos anual estimado	Segmento de mercado
Inmunoterapia	$ 250-300 millones	Oncología
Manejo del dolor	$ 100-150 millones	Terapéutica neurológica

Sorrento Therapeutics, Inc. (SRNE) - Canvas Business Model: Value Propositions

You're looking at the core value Sorrento Therapeutics, Inc. (SRNE) offers to its stakeholders, which is centered on developing novel therapies for areas with significant unmet medical needs. Even while navigating bankruptcy proceedings, which saw the market capitalization dip to approximately $2.76 million as of late 2025, the pipeline itself represents the potential value proposition.

Non-opioid pain management solutions (e.g., RTX) for intractable pain

For intractable pain, particularly that associated with advanced cancer, Sorrento Therapeutics offers Resiniferatoxin (RTX). This is a direct play against the massive non-opioid pain market, projected to exceed $10B by 2025. The clinical data supports its potential durability. In a Phase 2a trial for knee osteoarthritis pain, the 20mcg dose of RTX outperformed the active steroid comparator (Zilretta®) for efficacy and durability up to and past 26 weeks post-treatment. Furthermore, a Phase 2 study for intractable cancer pain started in September 2025, expecting 120 participants, with an estimated completion date of December 2027.

Multi-modal immuno-oncology therapies for solid tumors (DAR-T™, ADCs)

The immuno-oncology platform is built to deliver next-generation cancer therapeutics. A key resource underpinning this is the G-MAB™ library, boasting a diversity of more than ten trillion (>1016) fully human antibodies. This platform supports Antibody-Drug Conjugates (ADCs), which Sorrento aims to make homogenous with well-defined drug-to-antibody ratios (DAR), unlike existing heterogeneous products. For instance, the STI-6129 ADC targets CD38 with a proprietary covalent linker technology and a DAR of 3. In a specific application, interim data from a Phase 1b trial of IMC-002, a CD47-targeting monoclonal antibody combined with Lenvima for advanced liver cancer, showed an objective response rate (ORR) of 30 percent and a disease control rate (DCR) of 70 percent among 10 evaluable patients.

Rapid development of antiviral therapies (e.g., Ovydso) for infectious diseases

Sorrento Therapeutics demonstrated the capability for rapid response in infectious diseases with Ovydso (Olgotrelvir), an oral Mpro inhibitor for COVID-19. The pivotal Phase 3 trial in China enrolled and dosed 1,212 mild or moderate COVID-19 patients. The drug met its primary endpoint, shortening clinical recovery time by 2.4 days compared to placebo, and achieved a viral RNA load reduction at Day 4 of -0.80 log10. This success highlights the value proposition of quickly translating platform technology into late-stage clinical candidates.

Fully human antibodies from the extensive G-MAB™ library

The G-MAB™ library is a core asset providing high-quality, fully human antibodies. This library is leveraged across multiple therapeutic areas, not just oncology. The sheer scale of this resource-over 1016 diversity-is a significant barrier to entry for competitors and a foundation for developing targeted therapies.

Addressing significant unmet medical needs in cancer and pain

The company's pipeline is explicitly structured around high-need areas. In the immuno-oncology segment alone, the pipeline includes 37 programs targeting Neoplasms (cancers). The pain management focus, with RTX, targets patients with intractable pain who are opioid tolerant, defined in one study as consuming over 30 mg oral morphine equivalent dose daily. The value proposition is the potential to replace or significantly reduce reliance on existing, often problematic, standard-of-care treatments.

Here's a quick look at the pipeline focus:

• Neoplasms programs: 37
• Infectious Diseases programs: 18
• Top 5 Drug Types: ADC accounts for 15 programs
• RTX 20mcg dose showed durability past 26 weeks

The breadth of modalities-from small molecules (11 programs) to ADCs (15 programs) and Cell Therapy (8 programs)-shows a multi-pronged approach to tackling complex diseases. Despite the recent financial restructuring, including a Post IPO funding round of $47.4M on April 04, 2025, the scientific output remains the key value driver.

Value Proposition Area	Key Metric/Data Point	Associated Program/Technology
Non-Opioid Pain	20mcg dose outperformed steroid up to 26 weeks	RTX (Resiniferatoxin)
Immuno-Oncology	Library diversity of over 1016	G-MAB™ Antibody Library
Immuno-Oncology	Objective Response Rate of 30 percent in Phase 1b	IMC-002 (CD47 mAb) + Lenvima
Antiviral Therapy	Shortened COVID-19 recovery by 2.4 days vs. placebo	Ovydso (Olgotrelvir)
Platform Capability	15 programs classified as Antibody Drug Conjugate (ADC)	ADC Technology

Finance: draft 13-week cash view by Friday.

Sorrento Therapeutics, Inc. (SRNE) - Canvas Business Model: Customer Relationships

You're looking at how Sorrento Therapeutics, Inc. (SRNE) manages its crucial relationships with the various stakeholders that drive its drug development and commercialization efforts as of late 2025. This isn't about selling widgets; it's about deep, often regulated, partnerships.

Collaborative relationships with principal investigators and clinical sites

The core of advancing the pipeline rests on these scientific relationships. You need top-tier investigators to run your trials effectively, especially with complex assets like CAR-T therapies. While the most recent specific operational data points to earlier engagement levels, these relationships are foundational to any near-term commercial success.

Here's a snapshot of the scale of collaboration that was in place, which informs the current relationship strategy:

Relationship Metric	Value	Date/Context
Active Cancer Centers Collaborating	87	As of 2023
Collaborative Networks Engaged	23	As of 2023
Ongoing Clinical Trials (Targeting Patient Needs)	5	As of 2023
Potential Collaboration Value (Pharma Partnerships)	Up to $127.6 million	Targeted as of 2023

These relationships are maintained through continuous research investment and a focus on patient-centric trial design, which is a major industry theme heading into 2025. If onboarding for new sites takes longer than expected, it definitely impacts trial timelines, a known risk for biotechs with leaner cash reserves.

High-touch engagement with regulatory bodies (FDA, EMA)

Engagement with the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) is non-negotiable and requires a highly specialized, high-touch approach. This is about navigating complex submissions and responding to feedback on novel modalities like antibody-drug conjugates (ADCs) and cell therapies.

The regulatory landscape itself is evolving, with the EMA's Regulatory Science Strategy to 2025 emphasizing the need for better clinical trial methodologies. For Sorrento Therapeutics, Inc., past interactions set the stage; for instance, one key trial (NCT04572776) had a required reporting date of March 30, 2024, highlighting the strict timelines involved. The company's commercial product ZTlido® received its FDA approval on February 28, 2018, showing prior successful navigation of the approval process.

• Focus on providing data for cross-product meta-analyses to support scientific advice.
• Utilizing EMA Innovation Task Force briefings for early-stage interaction.
• Maintaining electronic submission compliance for all required Interactive Data Files.

Direct sales/marketing teams for commercial-stage products (post-2025)

The structure here is segmented, with the Scilex segment focused on non-opioid pain management products. While the company is described as clinical and commercial-stage, the scale of the direct sales force is tied to the commercial success of products like ZTlido® and the non-opioid pain assets like SEMDEXA™. Post-reorganization, the focus is likely on lean, targeted commercialization efforts.

The most recent financial event tied to capital structure was the Post IPO funding round on April 04, 2025, raising $47.4M. This capital infusion directly impacts the ability to fund and scale any direct sales or marketing infrastructure needed for products moving toward or in the market.

Investor relations focused on transparency post-reorganization

Following significant corporate events, investor confidence hinges on clear, consistent communication. For Sorrento Therapeutics, Inc., this means detailing the progress of the two main segments: Immune-Oncology and Scilex. Transparency is key, especially given the volatility reflected in the market data as of late 2025.

The market perception, as of December 05, 2025, showed a stock price of $0.0037 and a market capitalization of 2.016M. This low valuation relative to historical figures underscores the need for investor relations to clearly articulate the path to value realization from the pipeline and commercial assets. The company's focus on its G-MAB library and CAR-T therapies must be clearly communicated to institutional investors who participated in the April 2025 funding.

Patient advocacy groups for clinical trial recruitment and support

Patient advocacy groups are essential partners in the current environment, helping to bridge the trust gap and improve recruitment for trials targeting smaller, specific patient populations. This relationship is about co-designing healthcare with patients, as industry experts noted for 2025. Sorrento Therapeutics, Inc., being a San Diego biotech, operates within a cluster where legacy patient advocacy engagement is common.

The commitment here is demonstrated by focusing on patient outcomes and ensuring trial designs are convenient for participants, not just sponsors. This patient-centric approach helps maintain the flow of participants needed for the ongoing development of their immuno-oncology and pain management pipelines.

Finance: review Q4 2025 cash burn against the $47.4M raised in April 2025 by next Tuesday.

Sorrento Therapeutics, Inc. (SRNE) - Canvas Business Model: Channels

You're looking at how Sorrento Therapeutics, Inc. gets its value propositions to its customers, which is a mix of direct sales, partnerships, and scientific outreach, especially given its clinical-stage focus and the structure involving the Scilex segment.

Direct engagement with hospitals and specialized treatment centers

Direct engagement is crucial for any clinical-stage biopharma company, particularly for specialized oncology and pain treatments. This channel involves the sales force and medical science liaisons interacting directly with key opinion leaders and treating physicians at major cancer centers and pain clinics.

• The company operates through the Sorrento Therapeutics segment, focusing on cancer and infectious disease treatments.
• The Scilex segment is organized around non-opioid pain management operations, requiring direct engagement with pain specialists.

Pharmaceutical distributors and wholesalers for commercial products

For commercial products, like those managed by the Scilex segment, distribution relies on established third-party logistics and wholesale networks. This is the standard path for getting approved drugs onto pharmacy shelves and into patient hands.

The overall TTM revenue for Sorrento Therapeutics, Inc. as of December 2025 was reported at $64.27 Million USD. This revenue is generated from license revenues, product revenues, the sale of customized reagents, and contract manufacturing/other services.

Revenue Component Implication	Financial Data Point (TTM Dec 2025)
Product Revenues (Implied via Scilex)	Contributes to total TTM Revenue of $64.27 Million USD
Total TTM Revenue	$64.27 Million USD

Scientific publications and medical conferences for data dissemination

Disseminating clinical data is a primary channel for building credibility and driving future partnership or adoption interest. This is a non-revenue generating channel that supports the entire pipeline.

• The company leverages its proprietary G-MAB library and various modalities like CAR-T and ADCs.
• The global clinical trial investigative site network market size was projected to be $9.36 billion in 2025.
• The oncology segment accounted for a 34% market share in the clinical trial investigative site network market in 2024.

Licensing and co-development agreements with larger pharma partners

Partnerships are a key channel for advancing the pipeline and generating non-dilutive funding through upfront payments, milestones, and royalties. The revenue structure confirms this channel's importance.

Revenue recognition explicitly includes License Revenues. The total transaction price of contracts is allocated to performance obligations, which can be recognized over the license period.

Revenue Stream	Source of Revenue
License Revenues	Recorded as deferred revenue upon cash receipt, recognized over the license period
Milestone-related development fees	Partnering objective to generate returns from product candidates
Royalties	Partnering objective to generate returns from product candidates

Clinical trial networks for patient access

The ability to enroll patients efficiently through established clinical trial networks is a direct channel for advancing drug candidates through development phases. This is critical for pipeline progression.

One historical Phase 2 trial for RTX involved a total of 120 participants. The company continues to advance multiple product candidates, including anti-PD-1, anti-PD-L1, and ADCs.

Institutional investor sentiment, as of November 2025, showed 9 institutional owners filing forms, holding a total of 3,951,657 shares.

The stock traded at $0.0041 as of December 3, 2025, with a reported market capitalization around $1.9M.

Sorrento Therapeutics, Inc. (SRNE) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Sorrento Therapeutics, Inc. (SRNE) as of late 2025. Honestly, the landscape is defined by the company's Chapter 11 liquidation process, which started back in February 2023. This means the traditional customer segments are now viewed through the lens of asset disposition and claim resolution managed by a liquidating trustee. Still, understanding the intended segments is crucial for valuing the residual assets.

The core therapeutic focus, before the wind-down, targeted patients across three major areas: cancer, infectious disease, and pain. The company's pipeline included assets for multiple myeloma and amyloidosis. For instance, in infectious disease response, Sorrento Therapeutics invested $31.6 million in COVID-19 related programs during 2023.

Here's a breakdown of the historical and residual customer segments:

• Patients with cancer, intractable pain, and autoimmune disorders
• Oncologists and pain specialists prescribing novel therapies
• Global pharmaceutical companies seeking licensing or acquisition targets
• Government and public health organizations for infectious disease treatments
• Creditors and equity holders in the reorganized entity

The segment of oncologists and pain specialists was central to the development of assets like Resiniferatoxin for intractable cancer pain. The company previously targeted academic cancer centers, noting collaborations with 87 active cancer centers as of 2024.

For potential deal-making, Sorrento Therapeutics aimed to partner with approximately 42 pharmaceutical companies, with potential collaboration values estimated up to $127.6 million. This speaks to the value proposition once held for licensing partners.

The most immediate, post-restructuring 'customers' are the financial stakeholders. As of late 2025, the entity trades on the OTC Expert Market under SRNEQ. The company reported approximately $1 billion in assets at the time of its Chapter 11 filing, though the current market capitalization for the residual entity is small, around $2.3 million or $2.76 million.

The most concrete financial distribution involves the equity holders. Former Sorrento Therapeutics common shareholders received 7% equity in Vivasor, Inc., which acquired certain assets from Sorrento for a purchase price of $1.8 million in cash. This 7% stake represents the pro-rata distribution of value for those who were equity holders. To give you a sense of the prior operational scale, a comparison shows a Gross Revenue figure of $60.32 million, though this is against a backdrop of a Net Loss of -$572.84 million.

Here's a quick look at the segment scale and financial context based on available data, keeping in mind the company is in liquidation:

Customer Segment Focus Area	Relevant Metric/Value	Context/Date Reference
Infectious Disease Investment	$31.6 million	Investment in COVID-19 related programs in 2023
Potential Pharma Partnerships Value	$127.6 million	Potential collaboration value target
Vivasor Equity Stake for Shareholders	7%	Equity received by former SRNE common shareholders in Vivasor, Inc.
Vivasor Asset Purchase Price	$1.8 million	Cash paid for acquired assets by Vivasor, Inc.
Prior Gross Revenue (Segment Context)	$60.32 million	Reported Gross Revenue figure for comparison
Prior Asset Base at Filing	Approx. $1 billion	Reported assets at Chapter 11 filing
Institutional Ownership (Late 2025)	0.0%	Institutional investor ownership of SRNE shares

The segment of global pharmaceutical companies was historically important for leveraging the G-MAB antibody library and ADC technologies. The company also had a non-opioid pain management focus through its Scilex segment.

If onboarding takes 14+ days for any residual administrative processes managed by the trustee, claim resolution risk rises. Finance: draft 13-week cash view by Friday.

Sorrento Therapeutics, Inc. (SRNE) - Canvas Business Model: Cost Structure

You're looking at the hard costs Sorrento Therapeutics, Inc. (SRNE) faces, especially while navigating the Chapter 11 process. These aren't projections; these are the actual financial drains we see from their filings and related proceedings.

Significant R&D expenses for clinical trials and preclinical research remain a core cost, even under bankruptcy protection. For instance, total research and development expenses for the three months ended March 31, 2022, totaled $\mathbf{\$63,977 \text{ thousand}}$ across the Sorrento and Scilex segments, with the Sorrento segment alone showing $\mathbf{\$61,346 \text{ thousand}}$ in R&D costs for that period. This reflects the ongoing, high-cost nature of advancing drug candidates through development pipelines.

The legal and professional fees from the Chapter 11 bankruptcy process have been substantial, leading to disputes among stakeholders. As of mid-2024, professional firms were seeking approximately $\mathbf{\$50 \text{ million}}$ in total fees related to the case.

Here's a breakdown of those significant professional fee requests:

• Latham & Watkins LLP: Seeking $\mathbf{\$27 \text{ million}}$
• M3 Advisory Partners LP: Seeking $\mathbf{\$12.4 \text{ million}}$
• Moelis & Company LLC: Requesting $\mathbf{\$7.5 \text{ million}}$
• Jackson Walker: Requesting $\mathbf{\$2.5 \text{ million}}$
• Tran Singh LLP: Seeking $\mathbf{\$137,400}$

The manufacturing and supply chain costs for drug production are inherent to any biopharma operation, though specific 2025 figures aren't immediately available outside of general Selling, General and Administrative (SG&A) components from earlier filings. We know SG&A expenses for the three months ended March 31, 2022, totaled $\mathbf{\$44,327 \text{ thousand}}$.

Salaries and benefits for specialized scientific and clinical staff are embedded within the R&D and SG&A figures, as R&D expenses specifically include salaries and personnel-related expenses. The increase in R&D expenses in early 2022 was driven by higher headcount, showing this is a persistent cost driver.

Regarding interest expense on outstanding debt, including the $\mathbf{\$100 \text{ million}}$ Oramed loan, the structure involves significant debt service obligations. Sorrento Therapeutics, Inc. secured a $\mathbf{\$100,000,000}$ Replacement DIP Facility from Oramed Pharmaceuticals Inc. in August 2023. This facility, which replaced an earlier JMB DIP Facility, had an interest rate per annum equal to SOFR plus $\mathbf{8.5\%}$. The resulting Senior Secured Promissory Note, assumed by Scilex, was set to mature on March 21, 2025, with principal repayment installments beginning in late 2023.

Here's a summary of the key debt/financing components that drive interest costs:

Financing Instrument	Principal Amount	Key Date/Rate Detail
Oramed Replacement DIP Facility	$\mathbf{\$100,000,000}$	Interest: SOFR plus $\mathbf{8.5\%}$
JMB DIP Facility (Refinanced)	$\mathbf{\$75,000,000}$	Matured July 31, 2023
Oramed Note Maturity Date	N/A	March 21, 2025

Finance: draft 13-week cash view by Friday.

Sorrento Therapeutics, Inc. (SRNE) - Canvas Business Model: Revenue Streams

You're looking at how Sorrento Therapeutics, Inc. plans to bring in cash as of late 2025, which is critical given the recent restructuring. The revenue picture is a mix of projections, asset monetization, and financing activities.

The primary forward-looking metric available suggests a significant jump from prior years' actuals. Analysts are projecting the following for the current period:

• Forecasted annual revenue for the 2025 fiscal year is set at $416 million.

The company's historical revenue figures give you context for that projection, with 2022 revenue at $62.84 Million USD and 2023 (TTM) revenue at $64.27 Million USD.

One major component of recent cash generation involved divesting non-core assets, specifically the stake in Scilex Holding Company. This was a key part of the post-bankruptcy strategy.

Asset Sale Component	Financial Amount (USD)
Stalking Horse Bid for Scilex Securities	$105 million
Aggregate Consideration in Consummated Sale (Sept 2023)	$110 million
Assumption of Oramed Pharmaceuticals DIP Loan by Scilex	Approximately $100 million
Assumption of Sorrento Legal Fees by Scilex	Approximately $12.25 million

While the Scilex transaction is largely concluded, past milestone receipts provide a template for future non-sales revenue. For example, Sorrento recuperated $125 million from NantPharma for unmet milestones. Specific, confirmed milestone payments from new licensing and collaboration agreements executed in 2025 aren't detailed in the latest available data, but the structure of pharma deals suggests this stream relies on hitting specific regulatory or sales targets for pipeline assets.

To fund ongoing operations, especially through the development pipeline, Sorrento Therapeutics has tapped capital markets. You need to track these infusions as they directly impact the cash runway.

• A recent equity financing round, described as a Post IPO event, closed on April 4, 2025, raising $47.4 million.
• Earlier, in March 2024, the company obtained a senior secured term loan facility of $5 million as part of its Debtor-in-Possession (DIP) financing to support the bankruptcy emergence process.

As for potential product sales from commercialized assets post-2025, that revenue stream is entirely contingent on successful clinical progression and regulatory approval for their pipeline candidates, such as the anti-CD47 therapies. No specific sales forecasts post-2025 are available to quantify this stream yet. Finance: draft 13-week cash view by Friday.