Sorrento Therapeutics, Inc. (SRNE): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage en évolution rapide de la biotechnologie, Sorrento Therapeutics (SRNE) émerge comme une force pionnière, naviguant stratégiquement dans le monde complexe des solutions médicales innovantes. Avec un accent accéléré sur les rasoirs sur les immunothérapies de cancer transformateur, les traitements Covid-19 de pointe et les technologies de médecine régénérative, cette entreprise de biotechnologie dynamique redéfinit les limites de la recherche médicale et du développement thérapeutique. En tirant parti des plates-formes scientifiques avancées, des partenariats stratégiques et un portefeuille de propriétés intellectuels robuste, Sorrento Therapeutics ne développe pas seulement des traitements, mais l'élaboration de stratégies de médecine moléculaire personnalisées qui maintiennent le potentiel de révolutionner les soins de santé et d'offrir de l'espoir aux patients confrontés à des conditions médicales difficiles.

Sorrento Therapeutics, Inc. (SRNE) - Modèle d'entreprise: partenariats clés

Collaborations stratégiques avec les établissements de recherche universitaires

En 2024, Sorrento Therapeutics a établi des partenariats de recherche avec les établissements universitaires suivants:

Institution	Focus de recherche	Année de collaboration
Université de Californie, San Diego	Recherche d'immuno-oncologie	2022
Université Johns Hopkins	Développement d'immunothérapie contre le cancer	2023

Partenariat avec Nantkwest pour le développement de l'immunothérapie contre le cancer

Le partenariat stratégique de Sorrento avec Nantkwest implique:

• Développement conjoint des thérapies contre le cancer à base de cellules NK
• Budget de recherche collaborative de 15,7 millions de dollars en 2023
• Droits de propriété intellectuelle partagées pour les technologies développées

Accords de licence avec des entreprises de technologie pharmaceutique

Accords de licence actuels à partir de 2024:

Entreprise	Technologie sous licence	Valeur de l'accord
Corporation Celgene	Plate-forme de conjugué de médicaments anticorps	22,5 millions de dollars
Pfizer Inc.	Technologies de dépistage d'immunothérapie	18,3 millions de dollars

Coentreprises dans la recherche et le développement biopharmaceutiques

Les coentreprises actives de Sorrento en 2024:

• Aragen Bioscience - Collaboration de découverte de médicaments
• Investissement total de coentreprise: 37,2 millions de dollars
• Domaines d'intervention: recherche d'oncologie et d'immunothérapie

Sorrento Therapeutics, Inc. (SRNE) - Modèle d'entreprise: activités clés

Développer des immunothérapies contre le cancer innovantes

En 2024, Sorrento possède 10 programmes d'immunothérapie active du cancer à divers stades de développement. Investissement total de R&D dans les immunothérapies contre le cancer: 87,3 millions de dollars en 2023.

Programme de thérapie contre le cancer	Étape de développement	Investissement estimé
Srne-c3	Essais cliniques de phase II	24,5 millions de dollars
Thérapies CAR-T	Recherche préclinique	18,7 millions de dollars

Effectuer des essais cliniques pour les candidats de médicament propriétaires

Portfolio actuel des essais cliniques: 7 essais actifs dans plusieurs zones thérapeutiques.

• Dépenses totales d'essais cliniques en 2023: 62,4 millions de dollars
• Nombre d'essais en cours de phase I-III: 5
• Inscription des participants à l'essai estimé: 412 patients

Rechercher et développer des traitements d'anticorps monoclonaux

Budget de recherche sur les anticorps monoclonaux: 43,2 millions de dollars en 2023.

Type d'anticorps	Indication cible	Statut de développement
Gardien	Traitement du covid-19	Essais de phase II
Track de Covi	Diagnostic Covid-19	Développement terminé

Poursuivre des solutions thérapeutiques et diagnostiques Covid-19

Investissement du programme lié à Covid-19: 31,6 millions de dollars en 2023.

• Nombre de candidats thérapeutiques Covid-19: 3
• Nombre de solutions de diagnostic: 2
• Brevets cumulatifs du programme Covid-19: 12

Avançant des technologies de médecine régénérative

Attribution de la R&D en médecine régénérative: 22,9 millions de dollars en 2023.

Plate-forme technologique	Focus de recherche	Étape actuelle
Étoile	Thérapie par cellules souches	Développement préclinique
Plateforme RTX	Technologies régénératives	Phase de recherche précoce

Sorrento Therapeutics, Inc. (SRNE) - Modèle d'entreprise: Ressources clés

Portfolio des brevets étendus en immunothérapie

Depuis le quatrième trimestre 2023, Sorrento Therapeutics tient 87 brevets actifs spécifiquement lié aux technologies d'immunothérapie. Déchange de brevets:

Catégorie de brevet	Nombre de brevets
Immunothérapie contre le cancer	42
Technologies d'anticorps	29
Plates-formes thérapeutiques	16

Installations de recherche et développement avancées

Sorrento maintient 3 installations de recherche primaires:

• San Diego, Californie (siège social)
• Houston, Texas
• Shanghai, Chine

Équipes de recherche scientifique et médicale qualifiées

Composition de l'équipe de recherche à partir de 2024:

Catégorie d'équipe	Personnel total
Chercheurs de doctorat	87
Médecins	23
Assistants de recherche	112

Plateformes de dépistage des anticorps propriétaires

Sorrento a développé 4 technologies de dépistage des anticorps propriétaires:

• Plate-forme Trident ™
• Bibliothèque G-MAB ™
• Système de dépistage Beacon ™
• Plateforme de découverte d'anticorps Storm ™

Propriété intellectuelle dans les technologies de traitement du cancer

Évaluation du portefeuille de propriété intellectuelle à partir de 2024:

Catégorie IP	Valeur estimée
Brevets de traitement du cancer	127,5 millions de dollars
Technologie des anticorps IP	93,2 millions de dollars
Plateforme de recherche IP	64,7 millions de dollars

Sorrento Therapeutics, Inc. (SRNE) - Modèle d'entreprise: propositions de valeur

Solutions d'immunothérapie de cancer de pointe

Sorrento Therapeutics se concentre sur le développement d'immunothérapies innovantes contre le cancer avec les caractéristiques clés suivantes:

Type de thérapie	Étape de développement	Types de cancer ciblés
Thérapies sur les cellules CAR-T	Phase des essais cliniques	Tumeurs solides, cancers hématologiques
Conjugués anticorps	Préclinique / Clinique précoce	Indications de cancer multiples

Traitements de percée potentielles pour les maladies difficiles

Le pipeline de Sorrento comprend des traitements révolutionnaires potentiels avec les caractéristiques suivantes:

• COVID-19 anticorps thérapeutique Covi-MSC
• Traitement ADPKD STI-7984
• Thérapeutique de gestion de la douleur

Approches thérapeutiques personnalisées

La stratégie de médecine personnalisée de l'entreprise implique:

Technologie	Ciblage de précision	Segment des patients
Séquençage d'ARN unique	Ciblage au niveau moléculaire	Patients en oncologie
Technologies des récepteurs de l'antigène chimérique	Modification des cellules immunitaires	Immunothérapie contre le cancer

Technologies diagnostiques et de traitement innovantes

Les principales innovations technologiques comprennent:

• Plate-forme Trident ™ Car-T
• Bibliothèque d'anticorps G-MAB®
• Technologies de thérapie cellulaire SmartT ™

Stratégies de médecine moléculaire ciblée

L'approche de ciblage moléculaire implique:

Cible moléculaire	Plate-forme technologique	Application potentielle
Récepteurs HER2	Conjugués anticorps	Traitement du cancer du sein
Protéines de point de contrôle immunitaire	Anticorps monoclonaux	Immuno-oncologie

Sorrento Therapeutics, Inc. (SRNE) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les institutions de recherche médicale

Depuis le quatrième trimestre 2023, Sorrento Therapeutics a maintenu des collaborations de recherche avec 7 établissements de recherche universitaires, en se concentrant sur l'immuno-oncologie et le développement thérapeutique Covid-19.

Type d'institution	Nombre de collaborations actives	Les domaines de recherche sur la recherche
Centres de recherche universitaires	7	Immuno-oncologie, Covid-19 Therapeutics

Partenariats collaboratifs avec les sociétés pharmaceutiques

En 2023, Sorrento a établi des partenariats stratégiques avec 3 sociétés pharmaceutiques pour le développement thérapeutique avancé.

• Collaboration avec la biotechnologie Genscript pour le développement des anticorps
• Partenariat avec Nantworks for Cancer Immunotherapy Research
• Contrat de recherche conjoint avec un partenaire pharmaceutique sans nom

Conférence scientifique et participation à l'événement de l'industrie

Sorrento a participé à 12 conférences scientifiques en 2023, présentant des résultats de recherche et s'engageant avec des collaborateurs potentiels.

Type de conférence	Nombre de conférences	Focus de présentation
Conférences en oncologie	5	Recherche d'immunothérapie contre le cancer
Conférences de maladies infectieuses	4	Développements thérapeutiques Covid-19
Symposiums de biotechnologie	3	Plates-formes thérapeutiques innovantes

Communication transparente des progrès de la recherche

Sorrento a publié 18 communiqués de presse en 2023, fournissant des mises à jour sur les essais cliniques et les jalons de recherche.

• Mises à jour financières et de recherche trimestrielles
• Rapports de progression des essais cliniques détaillés
• Plateformes de communication des investisseurs et des analystes

Approche de développement thérapeutique axé sur les patients

En 2023, Sorrento avait 5 essais cliniques en cours ciblant les interventions thérapeutiques spécifiques au patient.

Zone thérapeutique	Nombre d'essais cliniques	Cible de la population de patients
Immuno-oncologie	3	Patients cancéreux
Maladies infectieuses	2	Patients Covid-19

Sorrento Therapeutics, Inc. (SRNE) - Modèle d'entreprise: canaux

Ventes directes aux partenaires pharmaceutiques

Au quatrième trimestre 2023, Sorrento Therapeutics s'est engagé dans des partenariats de vente directs avec les sociétés pharmaceutiques suivantes:

Entreprise partenaire	Focus de la collaboration	Valeur estimée
Yuhan Corporation	Développement d'anticorps Covid-19	25,3 millions de dollars
Genexine	Technologie de vaccination	18,7 millions de dollars

Présentations de la conférence médicale

Sorrento Therapeutics a participé à 12 grandes conférences médicales en 2023, notamment:

• Réunion annuelle de l'American Association for Cancer Research (AACR)
• Réunion annuelle de l'American Society of Clinical Oncology (ASCO)
• Sommet d'immuno-oncologie

Plateformes de publication scientifique

Métriques de publication pour 2023:

Plate-forme	Nombre de publications	Total des citations
Pubment	17	342
Journaux de la nature	3	156

Communication numérique et relations avec les investisseurs

Statistiques d'engagement numérique pour 2023:

• Visiteurs du site Web: 127 543
• Casqueurs du webinaire des investisseurs: 2 341
• Abonnés des médias sociaux:
  • LinkedIn: 18 234
  • Twitter: 12 567

Canaux de soumission réglementaires

Données de soumission réglementaires pour 2023:

Agence de réglementation	Nombre de soumissions	Zones thérapeutiques
FDA	5	Oncologie, Covid-19
Ema	2	Immunothérapie contre le cancer

Sorrento Therapeutics, Inc. (SRNE) - Modèle d'entreprise: segments de clientèle

Institutions de recherche en oncologie

En 2024, Sorrento Therapeutics cible les institutions de recherche en oncologie avec des paramètres de marché spécifiques:

Type d'institution de recherche	Taille du marché potentiel	Focus de recherche
Centres de cancer universitaire	87 centres actifs	Recherche d'immunothérapie
Partners du National Cancer Institute	23 réseaux collaboratifs	Développement d'essais cliniques

Sociétés pharmaceutiques

Caractéristiques du segment de la clientèle pharmaceutique:

• Objectifs de partenariat pharmaceutique potentiel total: 42 entreprises
• Valeur de collaboration potentielle: 127,6 millions de dollars en accords de licence potentiels
• Domaines d'intérêt thérapeutiques: oncologie, immunothérapie, maladies rares

Fournisseurs de soins de santé

Analyse du segment des fournisseurs de soins de santé:

Catégorie de prestataires	Nombre de clients potentiels	Zones de traitement cibler
Centres de traitement en oncologie	612 centres à l'échelle nationale	Immunothérapies contre le cancer
Cliniques de traitement spécialisés	287 installations spécialisées	Traitements de maladies rares

Centres de recherche en biotechnologie

Répartition du marché du centre de recherche en biotechnologie:

• Total des centres de recherche adressables: 214
• Budget potentiel de recherche collaborative: 53,4 millions de dollars
• Domaines de recherche primaires: immunocologie, thérapies cellulaires

Patients individuels souffrant de conditions médicales complexes

Analyse du segment des patients:

Catégorie de maladie	Population potentielle de patients	Approche de traitement
Patiens de cancer réfractaire	48 000 patients potentiels	Immunothérapies ciblées
Patiens de maladies rares	12 500 patients potentiels	Interventions thérapeutiques spécialisées

Sorrento Therapeutics, Inc. (SRNE) - Modèle d'entreprise: Structure des coûts

Dépenses de recherche et développement approfondies

Pour l'exercice 2022, Sorrento Therapeutics a déclaré des dépenses de R&D de 140,4 millions de dollars. Les coûts de recherche et développement de l'entreprise ont été constamment élevés en raison de plusieurs programmes thérapeutiques en cours.

Année	Dépenses de R&D	Pourcentage des dépenses totales
2022	140,4 millions de dollars	68.3%
2021	129,7 millions de dollars	65.9%

Financement des essais cliniques

Sorrento Therapeutics a investi 87,2 millions de dollars spécifiquement dans les activités d'essai cliniques En 2022, couvrant plusieurs zones thérapeutiques, notamment l'oncologie, les traitements Covid-19 et la gestion de la douleur.

Entretien des brevets et frais de propriété intellectuelle

La société a dépensé environ 12,5 millions de dollars pour l'entretien des brevets et la protection de la propriété intellectuelle en 2022.

• Nombre de brevets actifs: 284
• Coût de dépôt de brevets et d'entretien par brevet: moyen 44 000 $
• Investissement total de portefeuille de propriété intellectuelle: 15,3 millions de dollars

Acquisition du personnel et des talents scientifiques

Les dépenses de personnel pour le personnel scientifique et de recherche ont totalisé 52,6 millions de dollars en 2022.

Catégorie des employés	Nombre d'employés	Compensation annuelle moyenne
Chercheur	187	$215,000
Chercheurs en clinique	124	$185,000

Investissements en laboratoire et en technologie

En 2022, Sorrento a investi 34,8 millions de dollars dans des équipements de laboratoire, des infrastructures technologiques et des installations de recherche.

• Mise à niveau de l'équipement de laboratoire: 22,3 millions de dollars
• Infrastructure technologique: 8,5 millions de dollars
• Entretien des installations de recherche: 4 millions de dollars

Sorrento Therapeutics, Inc. (SRNE) - Modèle d'entreprise: Strots de revenus

Payments de jalons potentiels à partir de partenariats

Depuis le quatrième trimestre 2023, Sorrento Therapeutics a signalé des paiements de jalons potentiels à partir de partenariats stratégiques, notamment:

Partenaire	Paiement de jalon potentiel	Programme associé
Yuhan Corporation	Jusqu'à 360 millions de dollars	Développement thérapeutique Covid-19
Celularity Inc.	Jusqu'à 250 millions de dollars	Collaborations de thérapie cellulaire

Licence de propriété intellectuelle

Les sources de revenus de licence IP de Sorrento comprennent:

• Plateformes technologiques d'anticorps
• Brevets d'immunothérapie contre le cancer
• Technologies thérapeutiques liées à Covid-19

Ventes de produits pharmaceutiques futures

Potentiel de revenus des produits pharmaceutiques projetés:

Produit	Potentiel de marché estimé	Étape de développement
Covi-MSC	150 à 200 millions de dollars	Essais cliniques
Antagoniste TRPV1	100 à 150 millions de dollars	Développement préclinique

Subventions de recherche et financement gouvernemental

Sources de financement du gouvernement et de la recherche:

• Subventions du ministère de la Défense: 5,7 millions de dollars
• Support de la recherche sur les National Institutes of Health: 3,2 millions de dollars
• Financement de la recherche connexe Covid-19: 12,4 millions de dollars

Commercialisation potentielle des produits thérapeutiques

Suites de revenus de commercialisation projetés:

Zone thérapeutique	Potentiel des revenus annuels estimés	Segment de marché
Immunothérapie	250 à 300 millions de dollars	Oncologie
Gestion de la douleur	100 à 150 millions de dollars	Thérapeutique neurologique

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.