Sorrento Therapeutics – Unable to Garner Momentum

Mihir Gupta (UCL); Dimitris Chatzoulis (NYU Abu Dhabi)


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Sorrento Inc. is a biotechnology company, registered on NASDAQ stock exchange. It is focused on developing therapies for cancer and intractable pain. The company utilizes its GMAB antibody library in providing its cancer therapeutics. The product offerings of the company range all the way from Immunotherapy, Pain to Lymphatic therapy.


The price action of the company has been in a downward channel for almost two and a half months now, and has been unable to garner momentum to breach the trendline. Although there are signs of some upward movement in the share price in the very short run (2-3 weeks), the cumulative analysis suggests that the price action is heavily suppressed.


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