Some of the institutions on the register include D. 366 of these institutions are long, with 5 firms holding only short positions and 9 that are both long and short the stock. In total, there are 380 institutional owners and shareholders that own a total of 136.6 million in shares or approximately 36% of the float. This is visually represented in the table to the right. Institutions have been spotted gradually, but consistently increasing total position sizes with an inverse correlation becoming apparent with the share price. Prior to this transaction, CEO Ji had not purchased any shares on market since February 2018. Ji has made almost a 100% return on this parcel which marginally offsets the significant fall in the value of his total 2.06 million share position. Ji was spotted purchasing 10,000 additional shares at $1.40, following the annual low point in the stock. Since this point, shares have begun building momentum with over 230% in gains that have been achieved in less than two months!įintel's insider trading screen highlighted a recent purchase within the last month by Chairman, President and CEO Henry Ji.

SRNE’s share price bottomed out in early May when hitting an annual low of $1.15 per share. The release saw momentum continue, driving the stock higher over the course of the day. SRNE also highlighted that Ancora technology has huge potential in pain management which adds synergies and overlapping with the firm's current customers in the pain area. The company noted that the global continuous peripheral nerve block catheter market is expected to surpass $740 million by 2027 and the global needle market is expected to reach almost $8.5 billion by 2022 and almost $16 billion by 2026, providing secular growth demand tailwinds. The CEO of Ancora Chunyuan Qiu commented on the transaction stating “ We are pleased to enter into the proposed transaction and are confident that Scilex (SRNE’s subsidiary) is the ideal fit to build the AnCora franchise given their commitment to and proven track record of expanding patient access to non-opioid option” The product has been indicated for surgical pain management for general and orthopedic surgery.Īncora’s device lets physicians find peripheral nerves by using electrical impulses from a nerve stimulator and/or through ultrasound visualization of the device. The acquisition is subject to the execution of a definitive agreement that will contain customary closing conditions.Īncora Medical is a privately owned med tech company with a product called the Nerve Block Catheter Set that was approved by the FDA in February 2020.

Shares of biopharmaceutical company Sorrento Therapeutics (US:SRNE) rallied as high as 6.5% on Thursday following the release of news that the company entered a term sheet to acquire Ancora Medical.

Ancora pain management