Sorrento Therapeutics Announces $25 Million Registered Direct Offering

SAN DIEGO, Oct. 07, 2019 (GLOBE NEWSWIRE) — Sorrento Therapeutics, Inc. (Nasdaq: SRNE, ?Sorrento?), a clinical stage, antibody-centric biopharmaceutical company developing new therapies to turn malignant cancers into manageable and possibly curable diseases, today announced that it has entered into definitive agreements with several healthcare-focused institutional investors for the purchase in a registered direct offering of 10,869,566 shares of its common stock and warrants to purchase up to 10,869,566 shares of its common stock, at a combined purchase price of $2.30 per share and related warrant. The offering is expected to close on or about October 9, 2019, subject to the satisfaction of customary closing conditions.