Associated tags: COVID-19, Pain, Vaccine, Cancer, Autoimmune disease, Therapy, SAN, OTC, Infection, Pharmaceutical industry, Patient, United States bankruptcy court, Bankruptcy, Security (finance)
Locations: NEW YORK, CALIFORNIA, VICKERS, DELAWARE, GEORGIA, SC, PHILADELPHIA, CANADA, CONNECTICUT, UNITED STATES, TEXAS, SORRENTO, SAN DIEGO, CA, US, CHINA
Retrieved on:
Friday, September 22, 2023
SAN DIEGO, Sept. 22, 2023 /PRNewswire/ -- Sorrento Therapeutics, Inc. (OTC: SRNEQ, "Sorrento" or "Company"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, announced the consummation on September 21, 2023, of the previously announced sale to Scilex Holding Company (Nasdaq: SCLX, "Scilex") of certain securities that Sorrento held in Scilex.
Key Points:
- SAN DIEGO, Sept. 22, 2023 /PRNewswire/ -- Sorrento Therapeutics, Inc. (OTC: SRNEQ, "Sorrento" or "Company"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, announced the consummation on September 21, 2023, of the previously announced sale to Scilex Holding Company (Nasdaq: SCLX, "Scilex") of certain securities that Sorrento held in Scilex.
- As a result of the Securities Transfer, the Company no longer has a controlling interest over Scilex and Scilex ceased to be a majority-owned subsidiary of Sorrento.
- Consequently, we expect Scilex will be deconsolidated from the Company's financial statements prospectively and will be presented as discontinued operations.
- Additionally, upon the closing of the Securities Transfer, Sorrento and Oramed mutually terminated that certain Stock Purchase Agreement (as amended, the "Oramed SPA"), dated as of August 7, 2023, between Oramed and Sorrento for the sale of Sorrento's equity interests in Scilex to Oramed, which termination includes a release of claims by each of the parties relating to the Oramed SPA.
Retrieved on:
Tuesday, September 12, 2023
Microbiology,
SARS-CoV-2,
American Society for Microbiology,
CI,
COVID-19,
NDA,
Dean,
Risk,
COVID,
RNA,
Incidence,
Professor,
Patient,
BID,
SAN,
OTC,
National Medical Products Administration,
Nausea,
Therapy,
Rash,
Society,
NMPA,
Vaccine,
Pharmaceutical industry The primary endpoint was time to sustained recovery of 11 COVID-19 related symptoms and the key secondary endpoint was the viral RNA copy load reduction.
Key Points:
- The primary endpoint was time to sustained recovery of 11 COVID-19 related symptoms and the key secondary endpoint was the viral RNA copy load reduction.
- Most adverse events (AEs) were mild and balanced between Ovydso group and placebo group.
- Ovydso is an Oral Mpro Inhibitor as a standalone treatment for COVID-19 meaning it does not require co-administration with other agents.
- “We are very excited to see that the phase 3 results met the primary and key secondary endpoints.
Retrieved on:
Thursday, September 7, 2023
HTN,
AE,
Lidocaine,
OAK,
Oxycodone,
Aes,
Clinical trial,
ECG,
Capsaicin,
Bankruptcy,
Female,
Pain,
Hypertension,
SPID,
SAE,
Patient,
Standard of care,
WOMAC,
KOOS,
SAN,
OTC,
Hydromorphone,
BMI,
FDA,
Therapy,
Triamcinolone acetonide,
RTX,
Safety,
Pharmaceutical industry,
Birth control RTX 20mcg and 12.5mcg have been selected as the clinically optimal and minimally effective doses for further phase 2 pivotal or phase 3 trials.
Key Points:
- RTX 20mcg and 12.5mcg have been selected as the clinically optimal and minimally effective doses for further phase 2 pivotal or phase 3 trials.
- SAN DIEGO, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (OTC: SRNEQ, "Sorrento") announced today positive Phase 2a top-line clinical trial results for the RTX program.
- A higher proportion of patients responded to treatment with RTX 20mcg than any other treatment group, including Zilretta.
- The clinical trial confirmed the potential of resiniferatoxin (RTX) in helping patients with moderate to severe osteoarthritis pain for at least 6 months, if not longer.
Bankruptcy,
United States Bankruptcy Court for the Southern District of New York,
Therapy,
Moelis & Company,
Debtor,
Infection,
Cancer,
Latham & Watkins,
Sale,
Title 11 of the United States Code,
SAN,
OTC,
United States bankruptcy court,
Auction,
Oramed The stalking horse agreement with Oramed is subject to an auction and the submission of higher or otherwise better offers.
Key Points:
- The stalking horse agreement with Oramed is subject to an auction and the submission of higher or otherwise better offers.
- Any parties interested in bidding for the Scilex Stock should email Sorrento's investment banker (Moelis & Company LLC) as soon as possible to indicate their interest and discuss required bid materials .
- To the extent Sorrento receives any qualified bids that are higher or otherwise better than Oramed's bid by August 11, 2023, at 5:00 p.m. (ET), Sorrento will hold an auction for the Scilex Stock on August 14, 2023.
- Latham & Watkins LLP and Jackson Walker LLP are serving as legal counsel to Sorrento.
Transfer,
DTC,
Mechanics,
Therapy,
Infection,
Cancer,
United States bankruptcy court,
File sharing in Singapore,
See,
SMA,
FAQ,
Sale,
Continental,
Organization,
Register,
Sales management,
Documentation,
Title 11 of the United States Code,
SHARE,
SAN,
OTC,
Form,
Asset purchase agreement,
CUSIP,
Security (finance),
Real estate,
Procurement,
Lock up The FAQs address questions regarding the process and expected mechanics by which the Dividend Short Holders can purchase the Scilex stock either in open market purchases or in private, secondary transactions with Sorrento.
Key Points:
- The FAQs address questions regarding the process and expected mechanics by which the Dividend Short Holders can purchase the Scilex stock either in open market purchases or in private, secondary transactions with Sorrento.
- The agreement will be executed by Scilex and the Buyer or record holder of the acquired shares.
- Scilex and Buyer will jointly instruct Continental Stock Transfer & Trust Company, Scilex’s transfer agent (“Continental”), to impose the Lockup on the shares.
- Sorrento, Scilex and Scilex Dividend Short Holders (“Buyer”) will execute a stock purchase agreement providing for the sale of Scilex common stock by Sorrento to Buyer (the “Purchase Agreement”).
Bankruptcy,
United States bankruptcy court,
Therapy,
FedEx,
Official Committee of Equity Security Holders,
Infection,
Cancer,
Equity,
Electric Bond and Share Company v. Securities and Exchange Commission,
Sale,
Prospectus,
Title 11 of the United States Code,
SAN,
Offering,
Order,
OTC,
Form,
Security (finance),
Unsecured creditor Dividend Short Holders may elect to participate in the Offering.
Key Points:
- Dividend Short Holders may elect to participate in the Offering.
- Participants in the Offering may receive a release for any claims and causes of action that Sorrento or Scilex may have relating to naked or otherwise impermissible short-selling.
- The deadline to participate in the Offering is July 27, 2023, subject to any extensions granted by Sorrento following consultation with the Equity Committee.
- The Offering of the Restricted Scilex Stock by Sorrento would be made pursuant to a Registration Statement on Form S-1 (Registration No.
Bankruptcy,
United States bankruptcy court,
Therapy,
Official Committee of Equity Security Holders,
Infection,
Cancer,
Securities and Exchange Commission (Nigeria),
Prospectus,
Title 11 of the United States Code,
SAN,
Offering,
Order,
OTC,
Form,
Security (finance),
Unsecured creditor The Offering will provide parties who hold short interests in restricted Scilex stock (the "Dividend Short Holders") the exclusive opportunity to purchase restricted Scilex stock for the sole purpose of covering their short positions and to the extent applicable, delivering the borrowed shares to the lenders thereof.
Key Points:
- The Offering will provide parties who hold short interests in restricted Scilex stock (the "Dividend Short Holders") the exclusive opportunity to purchase restricted Scilex stock for the sole purpose of covering their short positions and to the extent applicable, delivering the borrowed shares to the lenders thereof.
- In addition, the Order directs record holders of short positions in Restricted Scilex Stock (the "Record Holders") to provide notice of the Offering to their customers who are Dividend Short Holders.
- The Offering of the Restricted Scilex Stock by Sorrento would be made pursuant to a Registration Statement on Form S-1 (Registration No.
- This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any shares of Restricted Scilex Stock.
DOR,
DCR,
IC50,
Lung cancer,
BTK,
PFS,
Hypertension,
Patient,
EGFR,
SAN,
OTC,
National Medical Products Administration,
CR,
Estonia,
Arrhythmia,
Therapy,
III,
NMPA,
ORR,
Safety,
Pharmaceutical industry,
Medical device Sorrento has communicated with the China Health Authority (National Medical Products Administration or NMPA) regarding the design of a pivotal phase III registration study of R/R MZL in China.
Key Points:
- Sorrento has communicated with the China Health Authority (National Medical Products Administration or NMPA) regarding the design of a pivotal phase III registration study of R/R MZL in China.
- SAN DIEGO, July 05, 2023 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (OTC: SRNEQ) today announced positive results from a China phase IIa study of Abivertinib on R/R MZL and its plan for a pivotal study.
- (3) Sorrento has communicated with the NMPA, and a consensus has been reached for a pivotal phase III registration study for the treatment of R/R MZL.
- The pivotal study will be a multicenter phase III study to assess the efficacy and safety of Abivertinib for treatment of relapsed/refractory marginal zone lymphoma.
Volunteering,
Database,
Microbiology,
SARS-CoV-2,
Safety,
Efficacy,
American Society for Microbiology,
COVID-19,
Dean,
RNA,
Professor,
Patient,
SAN,
OTC,
National Medical Products Administration,
Agency for Toxic Substances and Disease Registry,
Therapy,
Society,
NMPA,
Pharmaceutical industry,
Adult During the trial, Ovydso has maintained an excellent safety profile with no Grade 3 toxicities reported.
Key Points:
- During the trial, Ovydso has maintained an excellent safety profile with no Grade 3 toxicities reported.
- Should the Phase 3 trial be successful, we plan to open dialogue with regulatory agencies around the world to discuss paths to approval.
- With the completion of enrollment for this trial, Sorrento has treated almost 1,450 volunteers and patients.
- “We are pleased to see that Ovydso has enrolled quickly for a successful completion of enrollment for the phase 3 pivotal trial in China.
Bankruptcy,
United States bankruptcy court,
Therapy,
Official Committee of Equity Security Holders,
Infection,
Cancer,
Central Time,
Equity,
Title 11 of the United States Code,
SAN,
OTC,
Security (finance) In addition, the Bankruptcy Court ordered certain brokerage firms to provide an accounting of all profits received from naked short-selling of Dividended Scilex Stock and Scilex common stock, including all interest charged to short-sellers, no later than five business days after entry of the order.
Key Points:
- In addition, the Bankruptcy Court ordered certain brokerage firms to provide an accounting of all profits received from naked short-selling of Dividended Scilex Stock and Scilex common stock, including all interest charged to short-sellers, no later than five business days after entry of the order.
- The Bankruptcy Court's temporary restraining order grants a request by the Official Committee of Equity Security Holders in Sorrento's chapter 11 case, who had asked for the relief.
- The Official Committee of Equity Security Holders was appointed in the case to act as a fiduciary for, and represent the interests of, all Sorrento stockholders.
- The Bankruptcy Court will conduct a hearing to consider the committee's related request for a preliminary injunction on such issues on June 27, 2023 at 9:30 a.m. (prevailing Central Time) in Courtroom 400, 515 Rusk Street, Houston, Texas.
