Sorrento files for bankruptcy but Scilex to operate as usual
Sorrento Therapeutics (Nasdaq: SRNE), a US company focused on acquiring, developing and commercializing non-opioid pain management products, has issued a statement alongside its majority-owned subsidiary Scilex Holding Company (Nasdaq: SCLX).
The statement explains that Sorrento has begun voluntary proceedings under Chapter 11 of the US Bankruptcy Code in a court in Texas, USA.
While Scilex is majority-owned by Sorrento, it is not a debtor in Sorrento’s bankruptcy filing and will continue to operate its business as usual, the statement explains.
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