21 April 2017 - - US-based biopharmaceutical company Sorrento Therapeutics, Inc. (NASDAQ: SRNE) has closed an underwritten public offering of 23,625,084 shares of its common stock at a public offering price of USD 2.00 per share, the company said.

The net proceeds to Sorrento from this offering were approximately USD 43.5m, after deducting underwriting discounts and commissions and other estimated offering expenses.

Cantor Fitzgerald and Co. acted as the lead book-running manager for the offering. FBR Capital Markets and Co. acted as a joint book-running manager.

Oppenheimer and Co. and Aegis Capital Corp. acted as co-lead managers and Joseph Gunnar and Co., Rodman and Renshaw and Roth Capital Partners acted as co-managers.

Sorrento is an antibody-centric, clinical stage biopharmaceutical company developing new treatments for immuno-oncology, inflammation and autoimmune diseases.

Sorrento's lead product candidates include immunotherapies focused on the treatment of both solid tumors and hematological malignancies, as well as late stage pain products.