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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 i
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SOURCE Sorrento Therapeutics, Inc.
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