Sorrento Therapeutics Files For Bankruptcy

Sorrento Therapeutics and one affiliate filed for Chapter 11 bankruptcy in the US Bankruptcy Court in the Southern District of Texas on February 13, 2023. Their assets are estimated to be between $1 billion and $10 billion and liabilities between $100 million to $500 million. The company has hired legal counsels, a financial advisor, and a claims agent to help with the process.

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