Sorrento Therapeutics gets sixth extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Feb. 6 – Sorrento Therapeutics, Inc. secured a sixth extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.

The court extended the exclusive plan filing period by 120 days through May 7 and the exclusive solicitation period by 120 days through July 6.

The company’s plan of liquidation has already been confirmed, as previously reported.

Sorrento said in court documents that it does not intend to implement the plan until spring for operational reasons.

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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