Sorrento Therapeutics gets third extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Oct. 5 – Sorrento Therapeutics, Inc. secured a third extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

Specifically, the court extended the exclusive plan filing period through Oct. 16 and the exclusive solicitation period through Dec. 15.

“Failure to obtain a further extension could result in unnecessary disruption to the debtors’ estates,” the company said in the motion seeking the extension.

The company said the official committee of unsecured creditors supported the extension.

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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