Sorrento exploring 'strategic alternatives' amid demands for sale

10 May 2016
2019_biotech_test_vial_discovery_big

US clinical-stage biopharma firm Sorrento Therapeutics (Nasdaq: SRNE) has announced that it has engaged financial advisors to explore strategic alternatives to maximize shareholder value.

Although the company stressed that there was no guarantee this would lead to a sale, the news prompted an immediate 7.2% rise in its share price.

The announcement comes after an investment advisor wrote to Sorrento, expressing concerns that the company’s board is destroying shareholder value by mismanaging operations and assets.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK



Today's issue

Company Spotlight





More Features in Biotechnology