Sorrento Therapeutics, Inc. Received and Rejected Unsolicited All Cash Acquisition Proposal

SAN DIEGO, Nov. 25, 2019 (GLOBE NEWSWIRE) — Sorrento Therapeutics, Inc. (NASDAQ: SRNE, “Sorrento” or the ?Company?), confirmed today that on November 23, 2019, it received an unsolicited, non-binding term sheet proposal submitted by two biopharmaceutical companies, to acquire all of the issued and outstanding shares of the Company for between $3.00 and $5.00 per share in cash.