Sorrento Therapeutics (Sorrento Therapeutics) Interest Coverage

: 0 (At Loss) (As of Jun. 2023)

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Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. Sorrento Therapeutics's Operating Income for the three months ended in Jun. 2023 was $-76.77 Mil. Sorrento Therapeutics's Interest Expense for the three months ended in Jun. 2023 was $-2.67 Mil. did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Sorrento Therapeutics's Interest Coverage or its related term are showing as below:

SRNE's Interest Coverage is not ranked ^*
in the Biotechnology industry.
Industry Median: 144.99
* Ranked among companies with meaningful Interest Coverage only.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Sorrento Therapeutics Interest Coverage Historical Data

The historical data trend for Sorrento Therapeutics's Interest Coverage can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

* Premium members only.

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Sorrento Therapeutics Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Interest Coverage

Sorrento Therapeutics Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Interest Coverage																-	-	-	-	-

Competitive Comparison

For the Biotechnology subindustry, Sorrento Therapeutics's Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Sorrento Therapeutics Interest Coverage Distribution

For the Biotechnology industry and Healthcare sector, Sorrento Therapeutics's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Sorrento Therapeutics's Interest Coverage falls into.

Sorrento Therapeutics Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage

-1

Operating Income

Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt ⁽¹⁾.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Sorrento Therapeutics's Interest Coverage for the fiscal year that ended in Dec. 2022 is calculated as

Here, for the fiscal year that ended in Dec. 2022, Sorrento Therapeutics's Interest Expense was $-8.57 Mil. Its Operating Income was $-378.50 Mil. And its Long-Term Debt & Capital Lease Obligation was $104.34 Mil.

Sorrento Therapeutics did not have earnings to cover the interest expense.

Sorrento Therapeutics's Interest Coverage for the quarter that ended in Jun. 2023 is calculated as

Here, for the three months ended in Jun. 2023, Sorrento Therapeutics's Interest Expense was $-2.67 Mil. Its Operating Income was $-76.77 Mil. And its Long-Term Debt & Capital Lease Obligation was $74.19 Mil.

Sorrento Therapeutics did not have earnings to cover the interest expense.

The higher the ratio, the stronger the company's Financial Strength is.

Sorrento Therapeutics (OTCPK:SRNE) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .

Sorrento Therapeutics Interest Coverage Related Terms

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Sorrento Therapeutics (Sorrento Therapeutics) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Sorrento Therapeutics Inc (OTCPK:SRNE) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

N/A

Address

4955 Directors Place, San Diego, CA, USA, 92121

Website

https://www.sorrentotherapeutics.com

Sorrento Therapeutics Inc is a clinical and commercial-stage biopharmaceutical company developing a portfolio of next-generation treatments for three major therapeutic areas: cancer, infectious disease, and pain. Its multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies (G-MAB library), immuno-cellular therapies (DAR-T), antibody-drug conjugates (ADCs), and oncolytic virus (Seprehvec). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including COVI-AMG, COVIDROPS, COVISHIELD, FUJOVEE (Abivertinib), and OQORY (Covi-MSC), and diagnostic test solutions, including COVITRACK and COVIMARK.

Executives

Henry Ji	director, officer: See Remarks	5370 RUETTE DE MER, SAN DIEGO CA 92130
Tammy Reilly	director	C/O SORRENTO THERAPEUTICS, INC., 4955 DIRECTORS PLACE, SAN DIEGO CA 92121
Kim Janda	director	6042 CORNERSTONE CT. WEST, SUITE B, SAN DIEGO CA 92121
Elizabeth Czerepak	director	201 ROUTE 17 NORTH, RUTHERFORD NJ 07070
Dorman Followwill	director	C/O SORRENTO THERAPEUTICS, INC., 4955 DIRECTOR'S PLACE, SAN DIEGO CA 92121
Najjam Asghar	officer: Chief Financial Officer	C/O SORRENTO THERAPEUTICS, INC., 4955 DIRECTORS PLACE, SAN DIEGO CA 92121
Robin L Smith	director	C/O PHASE III MEDICAL, INC., 330 SOUTH SERVICE ROAD, SUITE 120, MELVILLE NY 11747
Edgar Lee	director	C/O OAKTREE CAPITAL MANAGEMENT, L.P., 333 SOUTH GRAND AVE, 28TH FLOOR, LOS ANGELES CA 90071
Jerome B Zeldis	officer: See Remarks	8767 E. VIA DE VENTURA, SUITE 190, SCOTTSDALE AZ 85258
Jaisim Shah	director	C/O PROTINE DESIGN LAB, 37481 MARSTEN DR, NEWARK CA 94560
Yue Alexander Wu	director	C/O SORRENTO THERAPEUTICS, INC., 9380 JUDICIAL DRIVE, SAN DIEGO CA 92121
David Lemus	director	C/O SORRENTO THERAPEUTICS, INC., 4955 DIRECTOR'S PLACE, SAN DIEGO CA 92121
Abg Management Ltd	10 percent owner	UNIT 3002-04,30TH FLOOR,GLOUCESTER TOWER, THE LANDMARK,15 QUEEN'S ROAD CENTRAL, HONG KONG K3 000000
Jiong Shao	officer: Chief Financial Officer	SUITE 1003-1004, 10/F, ICBC TOWER, THREE GARDEN ROAD, CENTRAL, HONG KONG F4 000000
George K Ng	officer: See Remarks	C/O SORRENTO THERAPEUTICS, INC., 6042 CORNERSTONE COURT WEST, SUITE B, SAN DIEGO CA 92121