Sorrento Therapeutics Announces the Merger of Scilex and Semnur to Create a Global Leader in Non-Opioid Pain Management
Sorrento Therapeutics, Inc. (SRNE)
Last sorrento therapeutics, inc. earnings: 8/9 04:49 pm
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Source: GlobeNewswire
Semnur’s SP102, addressing multi-billion dollar unmet market needs, in Pivotal Phase 3 Trial with Fast Track Status from the FDA With non-opioid ZTlido, RTX, and SP102 commercial and near-commercial product lines, Sorrento and its subsidiaries are addressing $63 billion market in pain management (1) SAN DIEGO, March 22, 2019 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE) announced today that its majority owned subsidiary Scilex Pharmaceuticals Inc. (Scilex) has closed a transaction to merge with Mountain View, California, based Semnur Pharmaceuticals, Inc. (Semnur) to form a new company, Scilex Holding Company (Scilex Holding). Sorrento’s equity stake in Scilex (77%) has been converted into a 58% stake in Scilex Holding. With Scilex’s lead product ZTlido® (lidocaine topical system 1.8%) ramping rapidly in the early months of commercial launch and Semnur’s lead compound (non-opioid corticosteroid gel) in Phase 3 pivotal studies for the treatment of lumbar radicular
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