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Sorrento Therapeutics reports $100.7 million net profit for September
By Sarah Lizee
Olympia, Wash., Nov. 16 – Sorrento Therapeutics, Inc. reported a $100.7 million net profit for September on $40,033 gross income/sales, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.
The company closed the sale of its common shares, preferred shares and warrants in Scilex Holding Co. back to Scilex for about $110 million in September, as previously reported.
The cash balance at the end of the month was $21.8 million.
The biopharmaceutical company is based in San Diego. The company filed bankruptcy on Feb. 13, 2023 under Chapter 11 case number 23-90085.
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