Sorrento Therapeutics, Inc. Receives Court Approval for "First Day" Employee Wages and Cash Management Motions

SAN DIEGO, Feb. 16, 2023 /PRNewswire/ -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, intractable pain, and infectious disease, today announced that the U.S. Bankruptcy Court for the Southern District of Texas granted approval of Sorrento's employee wages motion and interim approval of its cash management motion, in connection with Sorrento's chapter 11 petition, which was filed on February 13, 2023.  Sorrento expects to seek approval of other customary "first day" motions in the coming days.

Read more at prnewswire.com