What is Sorrento Therapeutics Financial Strength?
Sorrento Therapeutics has the Financial Strength Rank of 0.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
Sorrento Therapeutics did not have earnings to cover the interest expense.
Sorrento Therapeutics's debt to revenue ratio for the quarter that ended in Jun. 2023 was 3.45.
As of today, Sorrento Therapeutics's Altman Z-Score is -10.87.
Competitive Comparison of Sorrento Therapeutics's Financial Strength
For the Biotechnology subindustry, Sorrento Therapeutics's Financial Strength, along with its competitors' market caps and Financial Strength 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's Financial Strength Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Sorrento Therapeutics's Financial Strength distribution charts can be found below:
* The bar in red indicates where Sorrento Therapeutics's Financial Strength falls into.
Sorrento Therapeutics Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
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:
Sorrento Therapeutics's Interest Expense for the
months ended in Jun. 2023 was $-2.67 Mil. Its Operating Income for the
months ended in Jun. 2023 was $-76.77 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2023 was $74.19 Mil.
Sorrento Therapeutics's Interest Coverage for the quarter that ended in Jun. 2023 is
| Sorrento Therapeutics did not have earnings to cover the interest expense. |
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Sorrento Therapeutics's Debt to Revenue Ratio for the quarter that ended in Jun. 2023 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Sorrento Therapeutics has a Z-score of -10.87, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
Warning Sign:
Altman Z-score of -10.87 is in distress zone. This implies bankruptcy possibility in the next two years.
* 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.
Sorrento Therapeutics (Sorrento Therapeutics) Business Description
Traded in Other Exchanges
N/A
Address
4955 Directors Place, San Diego, CA, USA, 92121
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 |
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