November 29, 2023
Shareholders of bankrupt drug developer Sorrento Therapeutics Inc. have demanded the company turn over information about the debtor's counsel getting advice from an attorney who was romantically involved with the judge that formerly presided over the case.
October 18, 2023
Bankrupt drug developer Sorrento Therapeutics Inc. received court approval Wednesday in Texas for a $20 million sale of its stake in a joint venture to its South Korean partner, giving it access to much-needed cash as it pursues a Chapter 11 plan.
October 12, 2023
Sorrento Therapeutics Inc. has asked a Texas bankruptcy judge for a speedy hearing on its disclosure statement for its Chapter 11 plan, saying delay may eat up value creditors can recover.
October 11, 2023
Sorrento Therapeutics Inc. has asked a Texas bankruptcy judge to approve a sale of its stake in a joint venture with pharmaceutical company Yuhan Corp. to the South Korean firm for $20 million, citing an immediate need for liquidity to cover Chapter 11 expenses.
September 12, 2023
Bankrupt drug developer Sorrento Therapeutics received a Texas court's approval Tuesday for subsidiary Scilex Holding Co. to buy its own stock back from its parent for $110 million after the original buyer said closing conditions weren't met for its court-approved acquisition.
August 25, 2023
Bankrupt drug developer Sorrento Therapeutics received approval Friday in Texas court for a $105 million sale of its stake in subsidiary Scilex Holding Co. after a bankruptcy judge declined to reopen the auction for those assets as requested by other Scilex shareholders who wished to make a bid.
August 07, 2023
Bankrupt drug developer Sorrento Therapeutics secured a Texas judge's approval Monday for a $100 million emergency replacement of an expired debtor-in-possession loan from Oramed Pharmaceuticals, after the debtor set aside a proposed $200 million offer for stock in non-debtor affiliate Scilex Holding Co.
August 01, 2023
Bankrupt drug developer Sorrento Therapeutics told a Texas judge Tuesday that its planned $200 million sale of its equity in nondebtor subsidiary Scilex Holding Co. had hit a snag, forcing the debtor to explore other potential partners for a deal.
July 19, 2023
Bankrupt pharmaceutical company Sorrento Therapeutics asked a Texas judge for a ruling that the Chapter 11 automatic stay applies to a state court employment suit against its CEO because the debtor is obligated to indemnify the executive for his defense costs.
July 14, 2023
Bankrupt drug developer Sorrento Therapeutics' debtor-in-possession lender asked a Texas bankruptcy court Friday to reject Sorrento's request to settle an investor adversary action with a stock offering, saying both the lawsuit and the stock are its collateral.