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Fly News Breaks for August 3, 2017
SRNE
Aug 3, 2017 | 16:21 EDT
Oppenheimer analyst Mark Breidenbach initiated Sorrento Therapeutics with an Outperform and a $7 price target saying its core antibody discovery platform is a source of non-dilutive capital, in the form of out-licensing agreements, and feeds directly into Sorrento's early stage I/O pipeline. As a hedge for its I/O pipeline, Sorrento and its subsidiaries are developing two non-opioid pain management assets that could provide important near-term catalysts and product sales revenues starting in 2018.
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