Sorrento Therapeutics, Inc. (SRNE): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Na paisagem em rápida evolução da biotecnologia, a Sorrento Therapeutics (SRNE) surge como uma força pioneira, navegando estrategicamente no complexo mundo das soluções médicas inovadoras. Com um foco nítido em imunoterapias transformadoras do câncer, tratamentos de covid-19 de ponta e tecnologias de medicina regenerativa, esta empresa dinâmica de biotecnologia está redefinindo os limites da pesquisa médica e do desenvolvimento terapêutico. Ao alavancar plataformas científicas avançadas, parcerias estratégicas e um portfólio robusto de propriedade intelectual, a Sorrento Therapeutics não está apenas desenvolvendo tratamentos, mas a criação de estratégias de medicina molecular personalizadas que têm o potencial de revolucionar a assistência médica e oferecer esperança para os pacientes que enfrentam condições médicas desafiadoras.

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negócios: Parcerias -chave

Colaborações estratégicas com instituições de pesquisa acadêmica

Em 2024, a Sorrento Therapeutics estabeleceu parcerias de pesquisa com as seguintes instituições acadêmicas:

Instituição	Foco na pesquisa	Ano de colaboração
Universidade da Califórnia, San Diego	Pesquisa de imuno-oncologia	2022
Universidade Johns Hopkins	Desenvolvimento de imunoterapia ao câncer	2023

Parceria com Nantkwest para desenvolvimento de imunoterapia ao câncer

A parceria estratégica da Sorrento com Nantkwest envolve:

• Desenvolvimento conjunto de terapias de câncer baseadas em células NK
• Orçamento de pesquisa colaborativa de US $ 15,7 milhões em 2023
• Direitos de propriedade intelectual compartilhados para tecnologias desenvolvidas

Acordos de licenciamento com empresas de tecnologia farmacêutica

Acordos de licenciamento atuais em 2024:

Empresa	Tecnologia licenciada	Valor do acordo
Celgene Corporation	Plataforma conjugada de medicamentos anticorpos	US $ 22,5 milhões
Pfizer Inc.	Tecnologias de triagem de imunoterapia	US $ 18,3 milhões

Joint ventures em pesquisa e desenvolvimento biofarmacêutica

As joint ventures ativas de Sorrento em 2024:

• ARAGEN BIOSCIÊNCIA - Colaboração de descoberta de medicamentos
• Investimento total de joint venture: US $ 37,2 milhões
• Áreas de foco: pesquisa de oncologia e imunoterapia

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negócios: Atividades -chave

Desenvolvendo imunoterapias inovadoras do câncer

A partir de 2024, o Sorrento possui 10 programas ativos de imunoterapia ao câncer em vários estágios de desenvolvimento. Investimento total de P&D em imunoterapias contra o câncer: US $ 87,3 milhões em 2023.

Programa de terapia contra o câncer	Estágio de desenvolvimento	Investimento estimado
SRNE-C3	Ensaios clínicos de fase II	US $ 24,5 milhões
Terapias car-t	Pesquisa pré -clínica	US $ 18,7 milhões

Realização de ensaios clínicos para candidatos a drogas proprietários

Portfólio atual de ensaios clínicos: 7 ensaios ativos em várias áreas terapêuticas.

• Despesas totais de ensaios clínicos em 2023: US $ 62,4 milhões
• Número de ensaios em andamento da Fase I-III: 5
• Inscrição estimada para participantes do estudo: 412 pacientes

Pesquisando e desenvolvendo tratamentos monoclonais de anticorpos

Orçamento de pesquisa de anticorpos monoclonais: US $ 43,2 milhões em 2023.

Tipo de anticorpo	Indicação alvo	Status de desenvolvimento
Covi-guard	Tratamento do covid-19	Ensaios de Fase II
Covi-Track	Diagnóstico Covid-19	Desenvolvimento completo

Perseguindo soluções terapêuticas e de diagnóstico covid-19

Investimento de programa relacionado ao CoVID-19: US $ 31,6 milhões em 2023.

• Número de candidatos terapêuticos covid-19: 3
• Número de soluções de diagnóstico: 2
• Patentes Cumulativos do Programa Covid-19: 12

Avançar tecnologias de medicina regenerativa

Alocação de P&D de Medicina Regenerativa: US $ 22,9 milhões em 2023.

Plataforma de tecnologia	Foco na pesquisa	Estágio atual
Star-shot	Terapia com células -tronco	Desenvolvimento pré -clínico
Plataforma RTX	Tecnologias regenerativas	Fase de pesquisa inicial

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negócios: Recursos -chave

Extenso portfólio de patentes em imunoterapia

A partir do quarto trimestre 2023, a Sorrento Therapeutics possui 87 patentes ativas especificamente relacionado às tecnologias de imunoterapia. Redução de patentes:

Categoria de patentes	Número de patentes
Imunoterapia contra o câncer	42
Tecnologias de anticorpos	29
Plataformas terapêuticas	16

Instalações avançadas de pesquisa e desenvolvimento

Sorrento mantém 3 instalações de pesquisa primárias:

• San Diego, Califórnia (sede)
• Houston, Texas
• Xangai, China

Equipes científicas e de pesquisa médica qualificadas

Composição da equipe de pesquisa em 2024:

Categoria de equipe	Pessoal total
Pesquisadores de doutorado	87
Médicos médicos	23
Assistentes de pesquisa	112

Plataformas de triagem de anticorpos proprietários

Sorrento se desenvolveu 4 Tecnologias de triagem de anticorpos proprietários:

• Plataforma Trident ™
• Biblioteca G-MAB ™
• Sistema de triagem Beacon ™
• Plataforma de descoberta de anticorpos Storm ™

Propriedade intelectual em tecnologias de tratamento de câncer

Avaliação do portfólio de propriedade intelectual a partir de 2024:

Categoria IP	Valor estimado
Patentes de tratamento do câncer	US $ 127,5 milhões
IP da tecnologia de anticorpos	US $ 93,2 milhões
Plataforma de pesquisa IP	US $ 64,7 milhões

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negócios: proposições de valor

Soluções de imunoterapia de câncer de ponta

A Sorrento Therapeutics se concentra no desenvolvimento de imunoterapias inovadoras do câncer com as seguintes características -chave:

Tipo de terapia	Estágio de desenvolvimento	Tipos de câncer direcionados
Terapias de células CAR-T	Fase de ensaios clínicos	Tumores sólidos, câncer hematológico
Conjugados de anticorpos-drogas	Clínico pré -clínico/precoce	Indicações de câncer múltiplas

Possíveis tratamentos inovadores para doenças desafiadoras

O oleoduto de Sorrento inclui possíveis tratamentos inovadores com as seguintes características:

• Anticorpo terapêutico CoVID-19
• Tratamento ADPKD STI-7984
• Terapêutica de gerenciamento da dor

Abordagens terapêuticas personalizadas

A estratégia de medicina personalizada da empresa envolve:

Tecnologia	Direcionamento de precisão	Segmento de pacientes
Sequenciamento de RNA de célula única	Direcionamento de nível molecular	Pacientes oncológicos
Tecnologias de receptores de antígeno quimérico	Modificação de células imunológicas	Imunoterapia contra o câncer

Tecnologias inovadoras de diagnóstico e tratamento

As principais inovações tecnológicas incluem:

• Plataforma Trident ™ Car-T
• Biblioteca de anticorpos G-MAB®
• Tecnologias de terapia celular SMARTT ™

Estratégias de medicina molecular direcionadas

A abordagem de direcionamento molecular envolve:

Alvo molecular	Plataforma de tecnologia	Aplicação potencial
Receptores HER2	Conjugados de anticorpos-drogas	Tratamento do câncer de mama
Proteínas do ponto de verificação imune	Anticorpos monoclonais	Imuno-oncologia

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com instituições de pesquisa médica

A partir do quarto trimestre de 2023, a Sorrento Therapeutics manteve colaborações de pesquisa com 7 instituições de pesquisa acadêmica, com foco em imuno-oncologia e desenvolvimento terapêutico CoVID-19.

Tipo de instituição	Número de colaborações ativas	Áreas de foco de pesquisa
Centros de pesquisa acadêmica	7	Imuno-oncologia, Covid-19 Therapeutics

Parcerias colaborativas com empresas farmacêuticas

Em 2023, a Sorrento estabeleceu parcerias estratégicas com 3 empresas farmacêuticas para o desenvolvimento terapêutico avançado.

• Colaboração com a Genscript Biotech para desenvolvimento de anticorpos
• Parceria com a Nantworks para pesquisa de imunoterapia ao câncer
• Contrato de pesquisa conjunta com parceiro farmacêutico sem nome

Conferência Científica e Participação de Eventos da Indústria

Sorrento participou de 12 conferências científicas em 2023, apresentando descobertas de pesquisa e envolvendo -se com possíveis colaboradores.

Tipo de conferência	Número de conferências	Foco de apresentação
Conferências de oncologia	5	Pesquisa de imunoterapia ao câncer
Conferências de doenças infecciosas	4	Desenvolvimentos terapêuticos Covid-19
Simpósios de biotecnologia	3	Plataformas terapêuticas inovadoras

Comunicação transparente do progresso da pesquisa

A Sorrento emitiu 18 comunicados de imprensa em 2023, fornecendo atualizações sobre ensaios clínicos e marcos de pesquisa.

• Atualizações financeiras e de pesquisa trimestrais
• Relatórios detalhados de progresso do ensaio clínico
• Plataformas de comunicação de investidores e analistas

Abordagem de desenvolvimento terapêutico focado no paciente

A partir de 2023, Sorrento teve 5 ensaios clínicos em andamento direcionados a intervenções terapêuticas específicas do paciente.

Área terapêutica	Número de ensaios clínicos	Alvo da população de pacientes
Imuno-oncologia	3	Pacientes com câncer
Doenças infecciosas	2	Covid-19 pacientes

Sorrento Therapeutics, Inc. (SRNE) - Modelo de Negócios: Canais

Vendas diretas para parceiros farmacêuticos

A partir do quarto trimestre 2023, a Sorrento Therapeutics se envolveu em parcerias de vendas diretas com as seguintes empresas farmacêuticas:

Empresa parceira	Foco de colaboração	Valor estimado
Yuhan Corporation	Desenvolvimento de anticorpos Covid-19	US $ 25,3 milhões
Genexina	Tecnologia da vacina	US $ 18,7 milhões

Apresentações da conferência médica

A Sorrento Therapeutics participou de 12 principais conferências médicas em 2023, incluindo:

• Reunião Anual da Associação Americana de Pesquisa do Câncer (AACR)
• Reunião Anual da Sociedade Americana de Oncologia Clínica (ASCO)
• Cúpula de imuno-oncologia

Plataformas de publicação científica

Métricas de publicação para 2023:

Plataforma	Número de publicações	Citações totais
PubMed	17	342
Revistas da natureza	3	156

Comunicação digital e relações de investidores

Estatísticas de engajamento digital para 2023:

• Visitantes do site: 127.543
• Participantes do webinar dos investidores: 2.341
• Seguidores de mídia social:
  • LinkedIn: 18.234
  • Twitter: 12.567

Canais de submissão regulatórios

Dados de envio regulatório para 2023:

Agência regulatória	Número de envios	Áreas terapêuticas
FDA	5	Oncologia, Covid-19
Ema	2	Imunoterapia contra o câncer

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

Instituições de Pesquisa Oncológica

A partir de 2024, a Sorrento Therapeutics tem como alvo instituições de pesquisa de oncologia com parâmetros específicos de mercado:

Tipo de instituição de pesquisa	Tamanho potencial de mercado	Foco na pesquisa
Centros de câncer acadêmico	87 centros ativos	Pesquisa de imunoterapia
Parceiros do National Cancer Institute	23 redes colaborativas	Desenvolvimento de ensaios clínicos

Empresas farmacêuticas

Características do segmento de clientes farmacêuticos:

• Total potencial de parceria farmacêutica metas: 42 empresas
• Valor potencial de colaboração: US $ 127,6 milhões em possíveis contratos de licenciamento
• Áreas de interesse terapêuticas: oncologia, imunoterapia, doenças raras

Provedores de saúde

Análise do segmento de provedores de serviços de saúde:

Categoria de provedor	Número de clientes em potencial	Áreas de tratamento alvo
Centros de tratamento oncológicos	612 centros em todo o país	Imunoterapias contra o câncer
Clínicas de tratamento especializadas	287 instalações especializadas	Tratamentos de doenças raras

Centros de pesquisa de biotecnologia

Biotecnology Research Center Repartição do mercado:

• Centros de pesquisa endereçáveis ​​totais: 214
• Potencial orçamento de pesquisa colaborativa: US $ 53,4 milhões
• Domínios de pesquisa primária: imunooncologia, terapias celulares

Pacientes individuais com condições médicas complexas

Análise do segmento de pacientes:

Categoria de doença	Potencial população de pacientes	Abordagem de tratamento
Pacientes com câncer refratário	48.000 pacientes em potencial	Imunoterapias direcionadas
Pacientes com doenças raras	12.500 pacientes em potencial	Intervenções terapêuticas especializadas

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negócios: estrutura de custos

Extensas despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Sorrento Therapeutics registrou despesas de P&D de US $ 140,4 milhões. Os custos de pesquisa e desenvolvimento da empresa foram consistentemente altos devido a vários programas terapêuticos em andamento.

Ano	Despesas de P&D	Porcentagem do total de despesas
2022	US $ 140,4 milhões	68.3%
2021	US $ 129,7 milhões	65.9%

Financiamento de ensaios clínicos

Sorrento Therapeutics investiu US $ 87,2 milhões especificamente em atividades de ensaios clínicos Durante 2022, cobrindo várias áreas terapêuticas, incluindo oncologia, tratamentos COVID-19 e manejo da dor.

Custos de manutenção e propriedade intelectual de patentes

A empresa gastou aproximadamente US $ 12,5 milhões em manutenção de patentes e proteção de propriedade intelectual em 2022.

• Número de patentes ativas: 284
• Custo de arquivamento e manutenção de patentes por patente: média de US $ 44.000
• Investimento total de portfólio de propriedade intelectual: US $ 15,3 milhões

Aquisição de funcionários e talentos científicos

As despesas de pessoal para a equipe científica e de pesquisa totalizaram US $ 52,6 milhões em 2022.

Categoria de funcionários	Número de funcionários	Compensação média anual
Cientistas de pesquisa	187	$215,000
Pesquisadores clínicos	124	$185,000

Investimentos de infraestrutura de laboratório e tecnologia

Em 2022, a Sorrento investiu US $ 34,8 milhões em equipamentos de laboratório, infraestrutura de tecnologia e instalações de pesquisa.

• Atualização de equipamentos de laboratório: US $ 22,3 milhões
• Infraestrutura de tecnologia: US $ 8,5 milhões
• Manutenção da instalação de pesquisa: US $ 4 milhões

Sorrento Therapeutics, Inc. (SRNE) - Modelo de negócios: fluxos de receita

Potenciais pagamentos marcantes de parcerias

A partir do quarto trimestre 2023, a Sorrento Therapeutics relatou possíveis pagamentos marcantes de parcerias estratégicas, incluindo:

Parceiro	Pagamento em potencial	Programa associado
Yuhan Corporation	Até US $ 360 milhões	Desenvolvimento terapêutico Covid-19
Celularity Inc.	Até US $ 250 milhões	Colaborações de terapia celular

Propriedade intelectual de licenciamento

Os fluxos de receita de licenciamento IP da Sorrento incluem:

• Plataformas de tecnologia de anticorpos
• Patentes de imunoterapia ao câncer
• Tecnologias terapêuticas relacionadas à Covid-19

Vendas futuras de produtos farmacêuticos

Potencial de receita do produto farmacêutico projetado:

Produto	Potencial estimado de mercado	Estágio de desenvolvimento
COVI-MSC	US $ 150-200 milhões	Ensaios clínicos
Antagonista TRPV1	US $ 100-150 milhões	Desenvolvimento pré -clínico

Bolsas de pesquisa e financiamento do governo

Fontes de financiamento do governo e de pesquisa:

• Subsídios do Departamento de Defesa: US $ 5,7 milhões
• Institutos Nacionais de Pesquisa em Saúde Apoio: US $ 3,2 milhões
• Financiamento da pesquisa relacionada ao CoVID-19: US $ 12,4 milhões

Potencial comercialização terapêutica de produtos

Fluxos de receita de comercialização projetados:

Área terapêutica	Potencial estimado de receita anual	Segmento de mercado
Imunoterapia	US $ 250-300 milhões	Oncologia
Gerenciamento da dor	US $ 100-150 milhões	Terapêutica 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.