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Sorrento OK'd For Alternative $110M Ch. 11 Stock Sale

By Emily Lever · September 12, 2023, 10:30 PM EDT

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...

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Bankruptcy Scorecard

Summary

California biopharmaceutical firm Sorrento Therapeutics Inc., filed for Chapter 11 protection with about $135 million in debt, in the face of a $175 million arbitration award.

Case Number

4:23-bk-90085

Judge

Christopher M. Lopez

Venue

U.S. Bankruptcy Court for the Southern District of Texas

Capital Structure

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Related Sections

Case Information

Case Title

Sorrento Therapeutics, Inc. and Official Committee of Unsecured Creditors

Case Number

4:23-bk-90085

Court

Texas Southern

Nature of Suit

Date Filed

February 13, 2023

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