SORRENTO THERAPEUTICS, INC. (NASDAQ:SRNE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(f) On July 11, 2017, the Board of Directors (the “Board”) of Sorrento Therapeutics, Inc. (the “Company”), upon recommendation of the Compensation Committee of the Board, authorized and approved the payment of a cash bonus of $41,250 (the “Bonus”) to Jerome Zeldis, M.D., Ph.D., the Company’s Chief Medical Officer and President of Clinical Development, for services rendered to the Company during the fiscal year ended December 31, 2016. This bonus compensation information was not included in the Summary Compensation Table included in the Company’s Proxy Statement for its 2017 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on June 26, 2017 (the “2017 Proxy Statement”), because the amount of such bonus was not determined and not calculable as of the time of the filing of the 2017 Proxy Statement. Dr. Zeldis’ total compensation for the fiscal year ended December 31, 2016, as reported in the 2017 Proxy Statement was $961,128, and his recalculated total compensation for the fiscal year ended December 31, 2016, including the Bonus, is $1,002,378.
About SORRENTO THERAPEUTICS, INC. (NASDAQ:SRNE)
Sorrento Therapeutics, Inc. is a biopharmaceutical company. The Company is engaged in the discovery, acquisition, development and commercialization of drug therapeutics. Its primary therapeutic focus is oncology, including the treatment of chronic cancer pain. It is also developing therapeutic products for other indications, including immunology and infectious diseases. Its products in the pipeline include Chimeric Antigen Receptor-T Cell (CAR-T) programs, resiniferatoxin (RTX), and biosimilar/biobetter antibodies clinical development programs. Its pipeline also includes preclinical fully human therapeutic monoclonal antibodies (mAbs), including biosimilars/biobetters, fully human anti-PD-L1 and anti-PD-1 checkpoint inhibitors derived from its G-MAB library platform, antibody drug conjugates (ADCs), bispecific antibodies (BsAbs), as well as CAR-T and Chimeric Antigen Receptor Natural Killer (NK) cells (CAR. NK) for adoptive cellular immunotherapy.
