Navigation Links
Sorrento Therapeutics Announces Closing of Public Offering of Common Stock
Date:10/30/2013

SAN DIEGO, Oct. 30, 2013 /PRNewswire/ -- Sorrento Therapeutics, Inc. (NASDAQ: SRNE) today announced the closing of its previously announced underwritten public offering.  The gross proceeds to Sorrento from the offering, including the previously announced exercise of the over-allotment option by the underwriters, are $34.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Sorrento.

Sorrento intends to use the net proceeds received from the offering to fund its research and development activities, including its registrational clinical trial of Cynviloq, for working capital, other general corporate purposes, and possibly acquisitions of other companies, products or technologies.

Aegis Capital Corp. acted as the sole book-running manager for the offering.

CRT Capital acted as a co-manager for the offering. 

A shelf registration statement and accompanying base prospectus on Form S-3 relating to the shares was filed with the Securities and Exchange Commission and is effective.  Copies of the final prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC's web site at http://www.sec.gov. Copies of the final prospectus supplement may be obtained from the SEC's web site or the offices of Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

About Sorrento Therapeutics, Inc.
Sorrento Therapeutics, Inc. is a publicly-traded, development-stage biopharmaceutical company engaged in the acquisition, discovery, development and commercialization of proprietary drug therapeutics for addressing significant unmet medical needs. Sorrento's therapeutic focus is oncology, including the treatment of chronic pain, but is also developing therapeutic products for inflammation, metabolic, and infectious diseases. Sorrento's proprietary G-MAB® fully-human antibody library platform was designed to facilitate the rapid identification and isolation of highly specific antibody therapeutics. In addition, Sorrento is developing proprietary Antibody Drug Conjugates as well as Antibody formulated Drug Conjugates combining its G-MAB® antibodies with anti-tumor agents.

More information is available at www.sorrentotherapeutics.com.

Forward-Looking Statements
This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Words such as "assumes," "plans," "believes," "expects," "anticipates," and "will," and similar expressions, are intended to identify forward-looking statements. Forward-looking statements include statements about the preclinical and clinical development of Sorrento's human antibody therapeutics. All such forward-looking statements are based on Sorrento's current beliefs and expectations, and should not be regarded as a representation by Sorrento that any of its plans will be achieved. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in Sorrento's businesses; the potential for approval and commercial success of Cynviloq; the scope and validity of patent protection for Sorrento's platform technologies, and the risk that the development or commercialization of product candidates may infringe the intellectual property rights of others; the potential that Sorrento may require substantial additional funding in order to obtain regulatory approval for and commercialize Sorrento's proprietary G-MAB® fully-human antibody library platform technologies or product candidates; and additional risks set forth in Sorrento's filings with the Securities and Exchange Commission. These forward-looking statements represent Sorrento Therapeutics' judgment as of the date of this release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Sorrento undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.  


'/>"/>
SOURCE Sorrento Therapeutics, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Sorrento Therapeutics Announces Pricing of Public Offering of 4,150,000 Shares of Common Stock and Listing on NASDAQ
2. Sorrento Therapeutics Secures Rights to Biomiga Diagnostics Therapeutic Drug Monitoring Device for Development of Personalized Paclitaxel Cancer Therapy
3. Sorrento Therapeutics Completes IgDraSol Merger
4. Sorrento Therapeutics to Present at Two Healthcare Conferences
5. Sorrento Therapeutics and Ben-Gurion University Sign an Agreement for the Development of Anti-Hepatitis C Virus Antibodies
6. Sorrento Therapeutics and IGDRASOL to Present Late Stage Clinical Data Updates on their Oncology Nanomedicine Platform at the Joint Meeting of the European Foundation for Clinical Nanomedicine and European Technology Platform on Nanomedicine in Base
7. Sorrento Therapeutics Receives Frost & Sullivans Prestigious 2013 Global Investment Opportunity Award in the Oncology Market
8. Sorrento Therapeutics Receives Frost & Sullivans 2013 Global Investment Opportunity Award in Oncology
9. Sorrento Therapeutics to Present at the Jefferies 2013 Global Healthcare Conference in New York City
10. Sorrento Therapeutics, Inc. announces its approach to developing human antibody therapeutics against MRSA receives continued support from the National Institute of Allergy and Infectious Diseases
11. Sorrento Therapeutics, Inc. and IGDRASOL Announce Presentation on Non-Biologic Nanoparticle paclitaxel (NBN-Pac) Formulations for the Treatment of Solid Tumors at the Nanomedicine 2013 Meeting in Barcelona, Spain
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... May 25, 2016 Digital Health Dialog, ... it by the US Patent and Trademark Office ... includes proprietary processes for electronic opt-­in and processing ... wellness programs, HIPAA compliance and otherwise. ... "Our technology allows for individuals ...
(Date:5/24/2016)... Cirujanos holandeses han puesto en ... médicos a compartir sus mejores prácticas por el mundo ... médicos de Europa, África, Asia ... aplicación, que combina la transmisión en vivo con mensajería ... Educación   "Imagine un médico de Medicines ...
(Date:5/24/2016)... , May 24, 2016  NxStage Medical, Inc. (Nasdaq: ... focused on advancing renal care, today announced that ... participate in the following schedule of investor conferences. Where ... available at http://ir.nxstage.com/ .   ... Healthcare Conference NY, NY           Friday, June 10, 2016 ...
Breaking Medicine Technology:
(Date:5/26/2016)... ... 2016 , ... The Woodlands at John Knox Village , Florida’s first ... for living and healing, celebrated its grand opening, today. The Woodlands at John Knox ... by Empowered Staff. , “This is an incredibly fulfilling time for John Knox Village ...
(Date:5/26/2016)... TN (PRWEB) , ... May 26, 2016 , ... There ... and more than 32 million cancer survivors worldwide. On Sunday, June 5, 2016, communities ... 29th annual National Cancer Survivors Day®. , National Cancer Survivors Day® is an ...
(Date:5/26/2016)... ... May 26, 2016 , ... Catalent ... for drugs, biologics, consumer health and global clinical supply services, today announced two ... support the company’s continued investment and strategic growth plans in the Asia Pacific ...
(Date:5/26/2016)... , ... May 26, 2016 , ... An April Gallup ... families. , The 550 employees of Sun Health Senior Living (SHSL) may ... that reduces their doctor and prescription copays for the year, while holding the line ...
(Date:5/26/2016)... ... May 26, 2016 , ... Memorial Day Weekend marks the unofficial start ... is sharing tips to make sure your family and vehicle are ready to hit ... there may be 439 deaths and an additional 50,500 serious injuries from motor vehicle ...
Breaking Medicine News(10 mins):