Sorrento Therapeutics Inc
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Health Care : Biotechnology | Small Cap Value
Company profile

Sorrento Therapeutics, Inc. is a clinical-stage and commercial biopharma company. The Company operates through two segments: Sorrento Therapeutics and Scilex. The Sorrento Therapeutics segment is organized around its Immune-Oncology therapeutic area, leveraging its G-MAB antibody library and targeted delivery modalities to generate the next generation of cancer therapeutics. These modalities include chimeric antigen receptor T-cell therapy (CAR-T), dimeric antigen receptor T-cell therapy (DAR-T), antibody-drug conjugates (ADC), as well as bispecific antibody approaches. Additionally, Sorrento Therapeutics segment also includes Sofusa, a drug delivery technology that delivers biologics directly into the lymphatic system to potentially achieve improved efficacy and fewer adverse effects than standard parenteral immunotherapy. The Scilex segment is organized around its non-opioid pain management operations.

Closing Price
$9.43
Day's Change
-0.05 (-0.53%)
Bid
--
Ask
--
B/A Size
--
Day's High
9.46
Day's Low
8.64
Volume
(Average)
Volume:
35,168,066

10-day average volume:
34,365,421
35,168,066

MONDAY DEADLINE ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Sorrento Therapeutics, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

10:21 am ET July 24, 2020 (Newsfile) Print

Los Angeles, California--(Newsfile Corp. - July 24, 2020) - The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sorrento Therapeutics, Inc. (NASDAQ: SRNE) ("Sorrento" or "the Company") for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between May 15, 2020 and May 22, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before July 27, 2020.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Sorrento announced an initial finding of "100% inhibition" of an in vitro virus infection, but this finding will not necessarily translate to safety or success in person or in vivo. The Company did not find a "cure" for COVID-19. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Sorrento, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm

Brian Schall, Esq.,

www.schallfirm.com

Office: 310-301-3335

info@schallfirm.com

SOURCE:

The Schall Law Firm

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60453

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