Sorrento Therapeutics

Sorrento Therapeutics, Inc. engages in the research, development and manufacture of biopharmaceutical products. It focuses on therapies to treat specific stages in the evolution of cancer, from elimination, to equilibrium and escape which include biosimilars, immuno-oncology antibodies, cellular therapy, cell internalizing antibodies, and antibody drug conjugates. It operates through the Sorrento Therapeutics and Scilex segments. The company was founded by Henry H. Ji in 1989 and is headquartered in San Diego, CA.

Sorrento Therapeutics, Inc. engages in the research, development, and manufacture of biopharmaceutical products. It operates through the Sorrento Therapeutics and Scilex segments. The Sorrento Therapeutics segment comprises of the developing a portfolio of next generation treatments for three major therapeutic areas: cancer, infectious disease, and pain. The Scilex segment consists of a largely organized around the company’s non-opioid pain management operations. The company was founded by Henry H. Ji in 1989 and is headquartered in San Diego, CA.

Any euphoria after the biotech stock's big jump yesterday didn't last long.

Why Sorrento Therapeutics Stock Crashed Today

Sorrento Therapeutics (NASDAQ: SRNE ) stock is trending on social media today, with SRNE stock up 8% at one point this morning. This climb came after shares soared roughly 25% yesterday, although SRNE is now in the red.

The $75 Million Reason Sorrento (SRNE) Stock Is Moving Today

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SAN DIEGO , Feb. 21, 2023 /PRNewswire/ -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, today announced that the U.S. Bankruptcy Court for the Southern District of Texas granted interim approval of Sorrento's $75 million debtor-in-possession financing from JMB Capital Partners, in connection with Sorrento's chapter 11 case, which was filed on February 13, 2023.  The financing will provide Sorrento with immediate liquidity so that it can continue operating its business as usual during its chapter 11 case.

Sorrento Therapeutics, Inc. Receives Court Approval for $75 Million Financing in Chapter 11 Case

The company is walling off subsidiary Scilex from its bankruptcy proceedings.

Why Shares of Sorrento Therapeutics Are Up Today

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SAN DIEGO, Feb. 18, 2023 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) today posted an IRS Form 8937 (the “Form 8937”) to supplement its previously issued “Frequently Asked Questions” document under the “Investors” section of its website at www.sorrentotherapeutics.com regarding its recent dividend to Sorrento stockholders of shares of common stock of Scilex Holding Company (“Scilex”) previously held by Sorrento.

Sorrento Posts Form 8937 to Supplement its Previously Issued “FAQ” Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, “Scilex”)

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SAN DIEGO, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) today posted an update to its previously issued “Frequently Asked Questions” document under the “Investors” section of its website at www.sorrentotherapeutics.com regarding its recent dividend to Sorrento stockholders of shares of common stock of Scilex Holding Company previously held by Sorrento (the “Dividend Stock”).

Sorrento Issues Update to its Previously Issued “FAQ” Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, “Scilex”)

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SAN DIEGO , Feb. 16, 2023 /PRNewswire/ -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, today announced that the U.S. Bankruptcy Court for the Southern District of Texas granted approval of Sorrento's employee wages motion and interim approval of its cash management motion, in connection with Sorrento's chapter 11 petition, which was filed on February 13, 2023.  Sorrento expects to seek approval of other customary "first day" motions in the coming days.

Sorrento Therapeutics, Inc. Receives Court Approval for "First Day" Employee Wages and Cash Management Motions

The heavy selling pressure might have exhausted for Sorrento Therapeutics (SRNE) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

Sorrento Therapeutics (SRNE) Loses -77.24% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

SAN DIEGO and PALO ALTO, Calif., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) and an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, together with Sorrento, issued the following statements:

Joint Statement by Sorrento Therapeutics, Inc. and Scilex Holding Company on Today's Isolated Chapter 11 Filing By Sorrento Therapeutics, Inc.

Sorrento Therapeutics (NASDAQ: SRNE ) is down by more than 60% today following the company's announcement that it would file for Chapter 11 bankruptcy. Scintilla Pharmaceuticals, a wholly owned subsidiary of Sorrento, will also file for Chapter 11.

5 Investors Betting Big on Sorrento Therapeutics (SRNE) Stock

Sorrento Therapeutics (NASDAQ:SRNE) Inc plunged more than 60% after it was revealed the biopharmaceutical company has filed for Chapter 11 bankruptcy protection as its debts mount amid lawsuits. Sorrento and its wholly-owned subsidiary Scintilla Pharmaceuticals Inc have commenced voluntary bankruptcy proceedings in the US Bankruptcy Court for the Southern District of Texas “to protect the company's business and maximize its value,” according to a document filed with the SEC on Monday.

Sorrento Therapeutics stock plummets more than 60% on news of bankruptcy filing

A famed short-seller already had Sorrento Therapeutics in its sights as far back as 2020. That pressure came to a head Monday.

A biotech company that once claimed to have a 'cure' for COVID-19 just filed for bankruptcy, sending shares plunging 59%

A bankruptcy filing is weighing on the drugmaker's shares today.

Why Sorrento Therapeutics Stock Is Crashing Today

Sorrento Therapeutics (NASDAQ: SRNE ) stock is falling on Monday after the company filed for bankruptcy alongside subsidiary Scintilla Pharmaceuticals. A filing with the U.S. Securities and Exchange Commission (SEC) reveals the bankruptcy filing was made with the United States Bankruptcy Court for the Southern District of Texas.

Why Is Sorrento Therapeutics (SRNE) Stock Down 40% Today?

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PALO ALTO, Calif., Feb. 12, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announced that it has acquired rights to ELYXYBTM (celecoxib oral solution) in the U.S. and Canada, the only FDA-approved ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults.

Scilex Holding Company, a majority-owned subsidiary of Sorrento Therapeutics, Inc., acquires rights to FDA-Approved ELYXYB™ in the U.S. and Canada for the acute treatment of migraine

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PALO ALTO, Calif., Feb. 04, 2023 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, announced that its first virtual-only Annual Meeting of Stockholders (the “Meeting”) is scheduled to be held on April 6, 2023 at 9AM PST. Scilex also announced that its Board of Directors has set the close of business on March 6, 2023 as the record date (the “Record Date”) for determining stockholders entitled to notice of, and to vote at, at the Meeting.

Scilex Holding Company, a majority-owned subsidiary of Sorrento Therapeutics, Inc., Announces Record and Meeting Dates for its first Annual Meeting of Stockholders

SAN DIEGO, Feb. 03, 2023 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) today distributed dividend confirmation statements to 146 brokerage firms regarding its recent dividend to Sorrento stockholders of shares of common stock of Scilex Holding Company (Nasdaq: SCLX, “Scilex”) held by Sorrento. These statements, which contain the account numbers and amount of Scilex dividend shares, were previously mailed out by Continental Stock Transfer & Trust Company.

Sorrento Distributes Dividend Confirmation Statements to 146 Brokerage Firms and Provides Specific Instruction to Continental Stock Transfer & Trust Company Regarding the Dividend of Scilex Holding Company Common Stock

SAN DIEGO, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) today posted a supplement to its previously issued “Frequently Asked Questions” document under the “Investors” section of its website at www.sorrentotherapeutics.com regarding its recent dividend to Sorrento stockholders of shares of common stock of Scilex Holding Company held by Sorrento.

News for Sorrento Therapeutics Stock (SRNE)