Sorrento Therapeutics receives two NIH small business grants Sorrento Therapeutics announced that it has received two NIH small business grants which will fund the development of bispecific antibodies for two of its anti-bacterial immunotherapies. Sorrento's highly diverse, fully human G-MAB library and proprietary antibody conjugation technology platforms have broad applications beyond oncology, including other therapeutic areas such as anti-infectives and auto-immune diseases.
Sorrento Therapeutics price target raised to $26 from $17 at Brean Capital Brean Capital raised its price target on Sorrento Therapeutics (SRNE) to $26 from $17 as they believe the successful Nantkwest (NK) IPO has validated the company and its strategy. The firm noted Sorrento is an equal partner in the ownership of Nantkwest and thus feels it deserves a similar valuation, which is not priced in. Brean Capital reiterated its Buy rating on Sorrento shares.