srne-10q_20200930.htm
2020 0000850261 --12-31 Q3 false true true true true true true true P9Y2M12D P2M12D P6Y P19Y P0Y P15Y P15Y P5Y P1Y P6Y P19Y P0Y P15Y P15Y P5Y P5Y8M12D P6Y1M6D P8Y7M6D P9Y6M P8Y7M6D P9Y6M 0000850261 2020-01-01 2020-09-30 xbrli:shares 0000850261 2020-10-23 iso4217:USD 0000850261 2020-09-30 0000850261 2019-12-31 iso4217:USD xbrli:shares 0000850261 us-gaap:ProductMember 2020-07-01 2020-09-30 0000850261 us-gaap:ProductMember 2019-07-01 2019-09-30 0000850261 us-gaap:ProductMember 2020-01-01 2020-09-30 0000850261 us-gaap:ProductMember 2019-01-01 2019-09-30 0000850261 us-gaap:ServiceMember 2020-07-01 2020-09-30 0000850261 us-gaap:ServiceMember 2019-07-01 2019-09-30 0000850261 us-gaap:ServiceMember 2020-01-01 2020-09-30 0000850261 us-gaap:ServiceMember 2019-01-01 2019-09-30 0000850261 2020-07-01 2020-09-30 0000850261 2019-07-01 2019-09-30 0000850261 2019-01-01 2019-09-30 0000850261 us-gaap:CommonStockMember 2019-12-31 0000850261 us-gaap:TreasuryStockMember 2019-12-31 0000850261 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000850261 us-gaap:RetainedEarningsMember 2019-12-31 0000850261 us-gaap:NoncontrollingInterestMember 2019-12-31 0000850261 us-gaap:CommonStockMember 2020-01-01 2020-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-09-30 0000850261 srne:SmartPharmTherapeuticsIncMember us-gaap:CommonStockMember 2020-01-01 2020-09-30 0000850261 srne:SmartPharmTherapeuticsIncMember us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-09-30 0000850261 srne:SmartPharmTherapeuticsIncMember 2020-01-01 2020-09-30 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-09-30 0000850261 us-gaap:RetainedEarningsMember 2020-01-01 2020-09-30 0000850261 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-09-30 0000850261 us-gaap:CommonStockMember 2020-09-30 0000850261 us-gaap:TreasuryStockMember 2020-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember 2020-09-30 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-09-30 0000850261 us-gaap:RetainedEarningsMember 2020-09-30 0000850261 us-gaap:NoncontrollingInterestMember 2020-09-30 0000850261 us-gaap:CommonStockMember 2020-06-30 0000850261 us-gaap:TreasuryStockMember 2020-06-30 0000850261 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0000850261 us-gaap:RetainedEarningsMember 2020-06-30 0000850261 us-gaap:NoncontrollingInterestMember 2020-06-30 0000850261 2020-06-30 0000850261 us-gaap:CommonStockMember 2020-07-01 2020-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember 2020-07-01 2020-09-30 0000850261 srne:SmartPharmTherapeuticsIncMember us-gaap:CommonStockMember 2020-07-01 2020-09-30 0000850261 srne:SmartPharmTherapeuticsIncMember us-gaap:AdditionalPaidInCapitalMember 2020-07-01 2020-09-30 0000850261 srne:SmartPharmTherapeuticsIncMember 2020-07-01 2020-09-30 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-07-01 2020-09-30 0000850261 us-gaap:RetainedEarningsMember 2020-07-01 2020-09-30 0000850261 us-gaap:NoncontrollingInterestMember 2020-07-01 2020-09-30 0000850261 us-gaap:CommonStockMember 2018-12-31 0000850261 us-gaap:TreasuryStockMember 2018-12-31 0000850261 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000850261 us-gaap:RetainedEarningsMember 2018-12-31 0000850261 us-gaap:NoncontrollingInterestMember 2018-12-31 0000850261 2018-12-31 0000850261 us-gaap:CommonStockMember 2019-01-01 2019-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember srne:SemnurPharmaceuticalsIncMember 2019-01-01 2019-09-30 0000850261 us-gaap:NoncontrollingInterestMember srne:SemnurPharmaceuticalsIncMember 2019-01-01 2019-09-30 0000850261 srne:SemnurPharmaceuticalsIncMember 2019-01-01 2019-09-30 0000850261 us-gaap:CommonStockMember srne:PublicOfferingOfCommonStockAndWarrants2019Member 2019-01-01 2019-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember srne:PublicOfferingOfCommonStockAndWarrants2019Member 2019-01-01 2019-09-30 0000850261 srne:PublicOfferingOfCommonStockAndWarrants2019Member 2019-01-01 2019-09-30 0000850261 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-09-30 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-09-30 0000850261 us-gaap:RetainedEarningsMember 2019-01-01 2019-09-30 0000850261 us-gaap:CommonStockMember 2019-09-30 0000850261 us-gaap:TreasuryStockMember 2019-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember 2019-09-30 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-30 0000850261 us-gaap:RetainedEarningsMember 2019-09-30 0000850261 us-gaap:NoncontrollingInterestMember 2019-09-30 0000850261 2019-09-30 0000850261 us-gaap:CommonStockMember 2019-06-30 0000850261 us-gaap:TreasuryStockMember 2019-06-30 0000850261 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0000850261 us-gaap:RetainedEarningsMember 2019-06-30 0000850261 us-gaap:NoncontrollingInterestMember 2019-06-30 0000850261 2019-06-30 0000850261 us-gaap:CommonStockMember 2019-07-01 2019-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember srne:SemnurPharmaceuticalsIncMember 2019-07-01 2019-09-30 0000850261 srne:SemnurPharmaceuticalsIncMember 2019-07-01 2019-09-30 0000850261 us-gaap:CommonStockMember srne:PublicOfferingOfCommonStockAndWarrants2019Member 2019-07-01 2019-09-30 0000850261 us-gaap:AdditionalPaidInCapitalMember srne:PublicOfferingOfCommonStockAndWarrants2019Member 2019-07-01 2019-09-30 0000850261 srne:PublicOfferingOfCommonStockAndWarrants2019Member 2019-07-01 2019-09-30 0000850261 us-gaap:NoncontrollingInterestMember 2019-07-01 2019-09-30 0000850261 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-07-01 2019-09-30 0000850261 us-gaap:RetainedEarningsMember 2019-07-01 2019-09-30 0000850261 srne:PublicOfferingOfCommonStockAndWarrants2019Member 2020-01-01 2020-09-30 0000850261 srne:AcquisitionOfSmartPharmTherapeuticsIncMember 2020-01-01 2020-09-30 0000850261 srne:ScilexProductSalesMember 2020-07-01 2020-09-30 0000850261 srne:ScilexProductSalesMember 2019-07-01 2019-09-30 0000850261 srne:ScilexProductSalesMember 2020-01-01 2020-09-30 0000850261 srne:ScilexProductSalesMember 2019-01-01 2019-09-30 0000850261 srne:ProductOtherMember 2020-07-01 2020-09-30 0000850261 srne:ProductOtherMember 2019-07-01 2019-09-30 0000850261 srne:ProductOtherMember 2020-01-01 2020-09-30 0000850261 srne:ProductOtherMember 2019-01-01 2019-09-30 0000850261 srne:ServiceCustomizedReagentsMember 2020-07-01 2020-09-30 0000850261 srne:ServiceCustomizedReagentsMember 2019-07-01 2019-09-30 0000850261 srne:ServiceCustomizedReagentsMember 2020-01-01 2020-09-30 0000850261 srne:ServiceCustomizedReagentsMember 2019-01-01 2019-09-30 0000850261 srne:ServiceDrugAndReagantsMember 2020-07-01 2020-09-30 0000850261 srne:ServiceDrugAndReagantsMember 2019-07-01 2019-09-30 0000850261 srne:ServiceDrugAndReagantsMember 2020-01-01 2020-09-30 0000850261 srne:ServiceDrugAndReagantsMember 2019-01-01 2019-09-30 0000850261 us-gaap:ServiceOtherMember 2020-07-01 2020-09-30 0000850261 us-gaap:ServiceOtherMember 2019-07-01 2019-09-30 0000850261 us-gaap:ServiceOtherMember 2020-01-01 2020-09-30 0000850261 us-gaap:ServiceOtherMember 2019-01-01 2019-09-30 0000850261 us-gaap:AccountingStandardsUpdate201613Member 2020-09-30 0000850261 us-gaap:AccountingStandardsUpdate201813Member 2020-09-30 0000850261 us-gaap:AccountingStandardsUpdate201704Member 2020-09-30 0000850261 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:RestrictedCashMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:RestrictedCashMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:RestrictedCashMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:RestrictedCashMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesNoncurrentMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesNoncurrentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesNoncurrentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesNoncurrentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:ContingentConsiderationCurrentMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:ContingentConsiderationCurrentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:ContingentConsiderationCurrentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:ContingentConsiderationCurrentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:ContingentConsiderationNoncurrentMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:ContingentConsiderationNoncurrentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:ContingentConsiderationNoncurrentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 srne:ContingentConsiderationNoncurrentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000850261 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 us-gaap:CashAndCashEquivalentsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:RestrictedCashMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:RestrictedCashMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:RestrictedCashMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:RestrictedCashMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesCurrentMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesCurrentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesCurrentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesCurrentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesNoncurrentMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesNoncurrentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesNoncurrentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:DerivativeFinancialInstrumentsLiabilitiesNoncurrentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:ContingentConsiderationCurrentMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:ContingentConsiderationCurrentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:ContingentConsiderationCurrentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:ContingentConsiderationCurrentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:ContingentConsiderationNoncurrentMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:ContingentConsiderationNoncurrentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:ContingentConsiderationNoncurrentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000850261 srne:ContingentConsiderationNoncurrentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 xbrli:pure 0000850261 us-gaap:MeasurementInputLongTermRevenueGrowthRateMember srne:SeniorSecuredNotesDue2026Member 2020-09-30 0000850261 us-gaap:MeasurementInputCreditSpreadMember 2020-09-30 0000850261 us-gaap:MeasurementInputRevenueMultipleMember srt:MinimumMember 2020-09-30 0000850261 us-gaap:MeasurementInputRevenueMultipleMember srt:MaximumMember 2020-09-30 0000850261 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember 2019-12-31 0000850261 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember 2020-01-01 2020-09-30 0000850261 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember 2020-09-30 0000850261 srne:IgDraSolIncMember 2013-01-01 2013-12-31 0000850261 srne:IgDraSolIncMember 2015-05-01 2015-05-31 srne:joint_venture 0000850261 2015-05-31 0000850261 srne:NANTibodyMember 2015-04-30 0000850261 srne:NANTibodyMember srne:NantCellMember 2015-04-30 0000850261 srne:NANTibodyMember 2015-07-31 srne:board_member 0000850261 srne:NANTibodyMember srne:NantCellMember 2015-07-31 0000850261 srne:NANTibodyMember 2015-07-31 0000850261 srne:NANTibodyMember 2017-07-02 0000850261 srne:NANTibodyMember us-gaap:EquityMethodInvestmentsMember 2017-07-02 2017-07-02 0000850261 srne:NANTibodyMember 2017-06-30 0000850261 srne:NANTibodyMember 2017-09-30 0000850261 srne:NANTibodyMember 2017-07-01 2017-09-30 0000850261 srne:NANTibodyMember 2018-07-03 2018-07-03 0000850261 srne:NANTibodyMember 2018-07-03 0000850261 srne:NANTibodyMember 2020-09-30 0000850261 srne:NANTibodyMember 2019-09-30 0000850261 srne:NANTibodyMember 2020-04-01 2020-06-30 0000850261 srne:NANTibodyMember 2019-04-01 2019-06-30 0000850261 srne:NANTibodyMember 2020-06-30 0000850261 srne:NantCancerStemLLCMember 2015-07-31 0000850261 srne:NantCancerStemLLCMember srne:NantBioScienceIncMember 2015-07-31 0000850261 srne:NantCancerStemLLCMember 2015-10-13 2015-10-13 0000850261 srne:NantCancerStemLLCMember 2015-10-13 0000850261 srne:NantCancerStemLLCMember 2018-01-01 2018-12-31 0000850261 srne:NantCancerStemLLCMember 2020-09-30 0000850261 srne:NantCancerStemLLCMember 2019-09-30 0000850261 srne:NantCancerStemLLCMember 2020-04-01 2020-06-30 0000850261 srne:NantCancerStemLLCMember 2019-04-01 2019-06-30 0000850261 srne:NantCancerStemLLCMember 2020-06-30 0000850261 srne:SorrentoTherapeuticsMember 2020-09-30 0000850261 srne:ScilexPharmaceuticalsIncMember 2020-09-30 0000850261 srne:ScilexPharmaceuticalsIncMember 2020-01-01 2020-09-30 0000850261 us-gaap:CustomerRelationshipsMember 2020-01-01 2020-09-30 0000850261 us-gaap:DevelopedTechnologyRightsMember 2020-01-01 2020-09-30 0000850261 us-gaap:InProcessResearchAndDevelopmentMember 2020-01-01 2020-09-30 0000850261 srne:TechnologyPlacedInServiceMember 2020-01-01 2020-09-30 0000850261 us-gaap:PatentsMember 2020-01-01 2020-09-30 0000850261 srne:AssembledWorkforceMember 2020-01-01 2020-09-30 0000850261 srne:InternallyDevelopedSoftwareMember 2020-01-01 2020-09-30 0000850261 us-gaap:CustomerRelationshipsMember 2020-09-30 0000850261 us-gaap:DevelopedTechnologyRightsMember 2020-09-30 0000850261 us-gaap:InProcessResearchAndDevelopmentMember 2020-09-30 0000850261 srne:TechnologyPlacedInServiceMember 2020-09-30 0000850261 us-gaap:PatentsMember 2020-09-30 0000850261 srne:AssembledWorkforceMember 2020-09-30 0000850261 srne:InternallyDevelopedSoftwareMember 2020-09-30 0000850261 us-gaap:CustomerRelationshipsMember 2019-01-01 2019-12-31 0000850261 us-gaap:DevelopedTechnologyRightsMember 2019-01-01 2019-12-31 0000850261 us-gaap:InProcessResearchAndDevelopmentMember 2019-01-01 2019-12-31 0000850261 srne:TechnologyPlacedInServiceMember 2019-01-01 2019-12-31 0000850261 us-gaap:PatentsMember 2019-01-01 2019-12-31 0000850261 srne:AssembledWorkforceMember 2019-01-01 2019-12-31 0000850261 us-gaap:CustomerRelationshipsMember 2019-12-31 0000850261 us-gaap:DevelopedTechnologyRightsMember 2019-12-31 0000850261 us-gaap:InProcessResearchAndDevelopmentMember 2019-12-31 0000850261 srne:TechnologyPlacedInServiceMember 2019-12-31 0000850261 us-gaap:PatentsMember 2019-12-31 0000850261 srne:AssembledWorkforceMember 2019-12-31 0000850261 srne:AcquisitionOfSmartPharmTherapeuticsIncMember 2020-09-01 2020-09-01 0000850261 srne:AcquisitionOfSmartPharmTherapeuticsIncMember 2020-09-01 0000850261 srne:SemnurPharmaceuticalsIncMember 2019-03-01 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:MilestonesAchievementMember 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:NewDrugApplicationFirstApprovalMember 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:CumulativeNetSalesOneHundredMillionDollarsMember 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:CumulativeNetSalesTwoHundredAndFiftyMillionDollarsMember 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:CumulativeNetSalesFiveHundredMillionDollarsMember 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:CumulativeNetSalesSevenHundredAndFiftyMillionDollarsMember 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:CumulativeNetSalesOneHundredMillionDollarsMember 2019-03-01 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:CumulativeNetSalesTwoHundredAndFiftyMillionDollarsMember 2019-03-01 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:CumulativeNetSalesFiveHundredMillionDollarsMember 2019-03-01 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember srne:CumulativeNetSalesSevenHundredAndFiftyMillionDollarsMember 2019-03-01 2019-03-31 0000850261 srne:SemnurPharmaceuticalsIncMember 2019-03-18 0000850261 srne:SemnurPharmaceuticalsIncMember 2019-03-18 2019-03-18 0000850261 srne:SemnurPharmaceuticalsIncMember 2020-09-28 2020-09-28 0000850261 srne:SemnurPharmaceuticalsIncMember 2020-09-30 0000850261 srne:SemnurPharmaceuticalsIncMember 2020-01-01 2020-09-30 0000850261 srne:SemnurCashExchangePaymentMember us-gaap:SubsequentEventMember 2020-10-09 0000850261 srne:SemnurCashExchangePaymentMember us-gaap:SubsequentEventMember 2020-10-09 2020-10-09 0000850261 srne:ACEATherapeuticsINCMember srne:LicenseAgreementMember 2020-07-01 2020-07-31 0000850261 srne:ACEATherapeuticsINCMember srne:LicenseAgreementMember srt:MinimumMember 2020-07-01 2020-07-31 0000850261 srne:TrusteesOfColumbiaUniversityMember srne:LicenseAgreementMember 2020-07-01 2020-07-31 0000850261 srne:MayoFoundationMember srne:LicenseAgreementMember 2020-09-01 2020-09-30 0000850261 us-gaap:ResearchAndDevelopmentExpenseMember srne:MayoFoundationMember srne:LicenseAgreementMember srt:MaximumMember 2020-09-01 2020-09-30 0000850261 srne:DevelopmentAndManufacturingMember srne:MayoFoundationMember srne:LicenseAgreementMember 2020-09-01 2020-09-30 0000850261 srne:NantCellMember 2015-04-30 0000850261 srne:NantCellMember 2015-04-01 2015-04-30 0000850261 srne:NantCellMember 2020-09-30 0000850261 srt:MaximumMember srne:NantCellMember 2015-04-01 2015-04-30 0000850261 us-gaap:SeniorNotesMember srne:ScilexPharmaceuticalsIncMember srne:SeniorSecuredNotesDue2026Member 2018-09-07 0000850261 us-gaap:SeniorNotesMember srne:ScilexPharmaceuticalsIncMember srne:SeniorSecuredNotesDue2026Member 2018-09-07 2018-09-07 0000850261 srne:SeniorSecuredNotesDue2026Member srne:ScilexPharmaceuticalsIncMember us-gaap:SeniorNotesMember 2020-09-30 0000850261 srne:SeniorSecuredNotesDue2026Member srne:ScilexPharmaceuticalsIncMember us-gaap:SeniorNotesMember 2019-12-31 0000850261 us-gaap:SeniorNotesMember srne:ScilexPharmaceuticalsIncMember srne:SeniorSecuredNotesDue2026Member 2020-01-01 2020-09-30 0000850261 us-gaap:SeniorNotesMember srne:ScilexPharmaceuticalsIncMember srne:SeniorSecuredNotesDue2026Member 2019-01-01 2019-09-30 0000850261 us-gaap:SeniorNotesMember srne:ScilexPharmaceuticalsIncMember srne:SeniorSecuredNotesDue2026Member 2020-07-01 2020-09-30 0000850261 us-gaap:SeniorNotesMember srne:ScilexPharmaceuticalsIncMember srne:SeniorSecuredNotesDue2026Member 2019-07-01 2019-09-30 0000850261 srne:OaktreeCapitalManagementLPMember srne:TermLoanTrancheOneMember 2018-11-30 0000850261 srne:OaktreeCapitalManagementLPMember srne:TermLoanTrancheOneMember 2019-05-31 0000850261 srne:OaktreeCapitalManagementLPMember srne:TermLoanTrancheOneMember 2020-01-01 2020-09-30 0000850261 srne:OaktreeCapitalManagementLPMember srne:TermLoanTrancheOneMember 2020-07-01 2020-09-30 0000850261 srne:OaktreeCapitalManagementLPMember srne:TermLoanTrancheOneMember 2019-07-01 2019-09-30 0000850261 srne:OaktreeCapitalManagementLPMember srne:TermLoanTrancheOneMember 2019-01-01 2019-09-30 0000850261 srne:AspirePurchaseAgreementMember 2020-02-01 2020-02-29 0000850261 srne:AspirePurchaseAgreementMember 2020-01-01 2020-09-30 0000850261 srne:AspirePurchaseAgreementMember 2020-04-24 0000850261 srne:DistributionAgreementMember srt:MaximumMember 2020-04-27 2020-04-27 0000850261 srne:DistributionAgreementMember 2020-04-27 2020-04-27 0000850261 srne:SalesAgreementMember 2020-04-27 2020-04-27 0000850261 srne:SalesAgreementMember 2020-01-01 2020-09-30 0000850261 srne:SalesAgreementMember us-gaap:SubsequentEventMember 2020-10-01 2020-11-06 0000850261 srne:PurchaseAgreementMember 2020-04-27 2020-04-27 0000850261 srne:PurchaseAgreementMember 2020-01-01 2020-09-30 0000850261 srne:UnrestrictedStockMember 2020-07-01 2020-09-30 0000850261 srne:UnrestrictedStockMember 2020-01-01 2020-09-30 0000850261 us-gaap:EmployeeStockOptionMember 2020-01-01 2020-09-30 0000850261 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-09-30 0000850261 srne:TwoThousandNineteenStockIncentivePlanMember 2020-07-01 2020-09-30 0000850261 srne:TwoThousandNineteenStockIncentivePlanMember 2020-01-01 2020-09-30 0000850261 srne:TwoThousandNineteenStockIncentivePlanMember 2019-07-01 2019-09-30 0000850261 srne:TwoThousandNineteenStockIncentivePlanMember 2019-01-01 2019-09-30 0000850261 srne:TwoThousandNineteenStockIncentivePlanMember 2020-09-30 0000850261 srne:ScilexHoldingCompanyTwoThousandNineteenStockOptionPlanAndScilexPharmaceuticalsIncTwoThousandSeventeenEquityIncentivePlanMember 2020-07-01 2020-09-30 0000850261 srne:ScilexHoldingCompanyTwoThousandNineteenStockOptionPlanAndScilexPharmaceuticalsIncTwoThousandSeventeenEquityIncentivePlanMember 2019-07-01 2019-09-30 0000850261 srne:ScilexHoldingCompanyTwoThousandNineteenStockOptionPlanAndScilexPharmaceuticalsIncTwoThousandSeventeenEquityIncentivePlanMember 2020-01-01 2020-09-30 0000850261 srne:ScilexHoldingCompanyTwoThousandNineteenStockOptionPlanAndScilexPharmaceuticalsIncTwoThousandSeventeenEquityIncentivePlanMember 2019-01-01 2019-09-30 0000850261 srne:ScilexHoldingCompanyTwoThousandNineteenStockOptionPlanAndScilexPharmaceuticalsIncTwoThousandSeventeenEquityIncentivePlanMember 2020-09-30 0000850261 srne:TwoThousandTwentyEmployeeStockPurchasePlanMember us-gaap:SubsequentEventMember 2020-10-16 0000850261 srne:TwoThousandTwentyEmployeeStockPurchasePlanMember us-gaap:SubsequentEventMember 2020-10-16 2020-10-16 0000850261 srt:ChiefExecutiveOfficerMember srne:CEOPerformanceAwardMember 2020-08-07 2020-08-07 srne:Tranche 0000850261 srne:NANTibodyMember 2019-04-03 2019-04-03 0000850261 srt:MinimumMember 2020-01-01 2020-09-30 0000850261 srt:MaximumMember 2020-01-01 2020-09-30 0000850261 srt:MaximumMember 2020-09-30 0000850261 us-gaap:LatestTaxYearMember 2020-03-27 2020-03-27 0000850261 us-gaap:EarliestTaxYearMember 2020-03-27 2020-03-27 0000850261 2020-03-27 2020-03-27 0000850261 srne:ItochuChemicalFrontierCorporationMember srne:ScilexPharmaceuticalsIncMember srne:ItochuChemicalFrontierCorporationMember 2020-09-30 0000850261 srne:ItochuChemicalFrontierCorporationMember srt:AffiliatedEntityMember 2020-01-01 2020-09-30 0000850261 us-gaap:EmployeeStockOptionMember 2020-01-01 2020-09-30 0000850261 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-09-30 0000850261 us-gaap:WarrantMember 2020-01-01 2020-09-30 0000850261 us-gaap:WarrantMember 2019-01-01 2019-09-30 srne:segment 0000850261 srne:SorrentoTherapeuticsMember 2020-07-01 2020-09-30 0000850261 srne:ScilexMember 2020-07-01 2020-09-30 0000850261 srne:SorrentoTherapeuticsMember 2019-07-01 2019-09-30 0000850261 srne:ScilexMember 2019-07-01 2019-09-30 0000850261 srne:ScilexMember 2020-09-30 0000850261 srne:SorrentoTherapeuticsMember 2019-09-30 0000850261 srne:ScilexMember 2019-09-30 0000850261 srne:SorrentoTherapeuticsMember 2020-01-01 2020-09-30 0000850261 srne:ScilexMember 2020-01-01 2020-09-30 0000850261 srne:SorrentoTherapeuticsMember 2019-01-01 2019-09-30 0000850261 srne:ScilexMember 2019-01-01 2019-09-30 0000850261 us-gaap:SubsequentEventMember srne:LicenseAgreementMember srne:PersonalizedStemCellsIncMember 2020-10-12 2020-10-12

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2020

OR

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from                      to                     

Commission File Number 001-36150  

SORRENTO THERAPEUTICS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

 

33-0344842

(State or Other Jurisdiction of

Incorporation or Organization)

 

(I.R.S. Employer

Identification Number)

 

4955 Directors Place

San Diego, California 92121

(Address of Principal Executive Offices)

 

(858) 203-4100

 

(Registrant’s Telephone Number, Including Area Code)

Securities Registered pursuant to Section 12(b) of the Act:

 

Title of each class:

 

Trading Symbol (s)

 

Name of each exchange on which registered:

Common Stock, $0.0001 par value

 

SRNE

 

The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes     No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated file, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

 

Large accelerated filer

 

  

Accelerated filer

 

 

 

 

 

Non-accelerated filer

 

  

Smaller reporting company

 

 

 

 

 

 

 

 

Emerging growth company

 

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  .

The number of shares of the issuer’s common stock, par value $0.0001 per share, outstanding as of October 23, 2020 was 262,938,148.

 


 

Sorrento Therapeutics, Inc.

Form 10-Q for the Quarter Ended September 30, 2020

Table of Contents

 

Part I

Financial Information

3

Item 1.

Consolidated Financial Statements (Unaudited)

3

 

Consolidated Balance Sheets (Unaudited) as of September 30, 2020 and December 31, 2019

3

 

Consolidated Statements of Operations (Unaudited) for the Three and Nine Months Ended September 30, 2020 and 2019

4

 

Consolidated Statements of Comprehensive Loss (Unaudited) for the Three and Nine Months Ended September 30, 2020 and 2019

5

 

Consolidated Statements of Stockholders’ Equity (Unaudited) for the Three and Nine Months Ended September 30, 2020 and 2019

6

 

Consolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended September 30, 2020 and 2019

8

 

Notes to Consolidated Financial Statements (Unaudited)

9

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

26

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

34

Item 4.

Controls and Procedures

34

 

 

Part II

Other Information

35

Item 1.

Legal Proceedings

35

Item 1A.

Risk Factors

36

Item 5.

Other Information

45

Item 6.

Exhibits

45

SIGNATURES

49

 

 

 

 


 

PART I. FINANCIAL INFORMATION

Item 1.Consolidated Financial Statements.

SORRENTO THERAPEUTICS, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands, except for share amounts; unaudited)

 

ASSETS

 

September 30,

2020

 

 

December 31,

2019

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

75,176

 

 

$

22,521

 

Restricted cash

 

 

 

 

 

13,098

 

Accounts receivables, net

 

 

14,768

 

 

 

14,454

 

Inventory

 

 

2,144

 

 

 

3,362

 

Prepaid expenses and other

 

 

13,900

 

 

 

14,153

 

Total current assets

 

 

105,988

 

 

 

67,588

 

Property and equipment, net

 

 

29,454

 

 

 

29,888

 

Operating lease right-of-use assets

 

 

44,833

 

 

 

46,384

 

Intangibles, net

 

 

79,967

 

 

 

63,308

 

Goodwill

 

 

38,298

 

 

 

38,298

 

Equity investments

 

 

256,420

 

 

 

262,241

 

Restricted cash

 

 

45,000

 

 

 

45,150

 

Other, net

 

 

2,125

 

 

 

4,775

 

Total assets

 

$

602,085

 

 

$

557,632

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

22,849

 

 

$

27,630

 

Accrued payroll and related benefits

 

 

17,930

 

 

 

15,914

 

Accrued expenses

 

 

24,562

 

 

 

18,728

 

Current portion of deferred revenue

 

 

4,170

 

 

 

3,643

 

Acquisition consideration payable

 

 

398

 

 

 

908

 

Current portion of derivative liabilities

 

 

 

 

 

8,800

 

Current portion of debt

 

 

18,529

 

 

 

36,261

 

Current portion of operating lease liabilities

 

 

3,687

 

 

 

3,322

 

Total current liabilities

 

 

92,125

 

 

 

115,206

 

Long-term debt, net of discount

 

 

149,459

 

 

 

199,088

 

Deferred tax liabilities, net

 

 

7,055

 

 

 

9,043

 

Deferred revenue

 

 

113,477

 

 

 

114,389

 

Derivative liabilities

 

 

42,900

 

 

 

35,000

 

Operating lease liabilities

 

 

51,236

 

 

 

52,111

 

Other long-term liabilities

 

 

549

 

 

 

39

 

Total liabilities

 

$

456,801

 

 

$

524,876

 

Commitments and contingencies (See Note 10)

 

 

 

 

 

 

 

 

Equity:

 

 

 

 

 

 

 

 

Sorrento Therapeutics, Inc. equity

 

 

 

 

 

 

 

 

Preferred stock, $0.0001 par value; 100,000,000 shares authorized and no shares issued

   or outstanding

 

 

 

 

 

 

Common stock, $0.0001 par value 750,000,000 shares authorized and 261,737,622 and 167,798,120

   shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively

 

 

28

 

 

 

18

 

Additional paid-in capital

 

 

1,141,208

 

 

 

788,122

 

Accumulated other comprehensive gain (loss)

 

 

444

 

 

 

(270

)

Accumulated deficit

 

 

(886,776

)

 

 

(659,818

)

Treasury stock, 7,568,182 shares at cost at September 30, 2020, and December 31, 2019

 

 

(49,464

)

 

 

(49,464

)

Total Sorrento Therapeutics, Inc. stockholders’ equity

 

 

205,440

 

 

 

78,588

 

Noncontrolling interests

 

 

(60,156

)

 

 

(45,832

)

Total equity

 

 

145,284

 

 

 

32,756

 

Total liabilities and stockholders’ equity

 

$

602,085

 

 

$

557,632

 

 

See accompanying notes to unaudited consolidated financial statements

3


 

SORRENTO THERAPEUTICS, INC.  

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except for per share amounts; unaudited)

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net product revenues

 

$

7,874

 

 

$

3,810

 

 

$

18,916

 

 

$

11,868

 

Service revenues

 

 

3,879

 

 

 

1,968

 

 

 

9,565

 

 

 

6,530

 

Total revenues

 

 

11,753

 

 

 

5,778

 

 

 

28,481

 

 

 

18,398

 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of products sold

 

 

549

 

 

 

2,839

 

 

 

1,796

 

 

 

3,868

 

Cost of services

 

 

2,122

 

 

 

2,387

 

 

 

5,563

 

 

 

6,947

 

Research and development

 

 

32,003

 

 

 

27,610

 

 

 

77,307

 

 

 

78,019

 

Acquired in-process research and development

 

 

34,884

 

 

 

 

 

 

39,765

 

 

 

75,301

 

Selling, general and administrative

 

 

24,265

 

 

 

25,234

 

 

 

75,027

 

 

 

78,128

 

Intangible amortization

 

 

1,034

 

 

 

991

 

 

 

3,018

 

 

 

2,949

 

Total operating costs and expenses

 

 

94,857

 

 

 

59,061

 

 

 

202,476

 

 

 

245,212

 

Loss from operations

 

 

(83,104

)

 

 

(53,283

)

 

 

(173,995

)

 

 

(226,814

)

Other income (loss)

 

 

238

 

 

 

(221

)

 

 

179

 

 

 

(203

)

Loss on debt extinguishment

 

 

 

 

 

 

 

 

(51,939

)

 

 

 

Gain (loss) on derivative liabilities

 

 

(1,000

)

 

 

(10,700

)

 

 

5,900

 

 

 

(35,792

)

(Loss) gain on foreign currency exchange

 

 

30

 

 

 

(521

)

 

 

7

 

 

 

(619

)

Interest expense

 

 

(2,563

)

 

 

(9,459

)

 

 

(17,686

)

 

 

(28,059

)

Interest income

 

 

1

 

 

 

182

 

 

 

22

 

 

 

1,021

 

Loss before income tax

 

 

(86,398

)

 

 

(74,002

)

 

 

(237,512

)

 

 

(290,466

)

Income tax expense (benefit)

 

 

145

 

 

 

(221

)

 

 

(2,050

)

 

 

(782

)

Loss on equity method investments

 

 

(566

)

 

 

(1,431

)

 

 

(5,821

)

 

 

(3,902

)

Net loss

 

 

(87,109

)

 

 

(75,212

)

 

 

(241,283

)

 

 

(293,586

)

Net loss attributable to noncontrolling interests

 

 

(3,086

)

 

 

(10,797

)

 

 

(14,324

)

 

 

(64,338

)

Net loss attributable to Sorrento

 

$

(84,023

)

 

$

(64,415

)

 

$

(226,959

)

 

$

(229,248

)

Net loss per share - basic per share attributable to Sorrento

 

$

(0.33

)

 

$

(0.49

)

 

$

(1.05

)

 

$

(1.83

)

Net loss per share - diluted per share attributable to Sorrento

 

$

(0.33

)

 

$

(0.50

)

 

$

(1.05

)

 

$

(2.00

)

Weighted-average shares used during period - basic per share

   attributable to Sorrento

 

 

251,211

 

 

 

130,800

 

 

 

217,050

 

 

 

125,240

 

Weighted-average shares used during period - diluted per share

   attributable to Sorrento

 

 

257,670

 

 

 

140,445

 

 

 

223,509

 

 

 

132,265

 

 

See accompanying notes to unaudited consolidated financial statements

4


 

SORRENTO THERAPEUTICS, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(In thousands; unaudited)

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net loss

 

$

(87,109

)

 

$

(75,212

)

 

$

(241,283

)

 

$

(293,586

)

Other comprehensive loss (gain):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

 

669

 

 

 

(177

)

 

 

714

 

 

 

(144

)

Total other comprehensive loss (gain)

 

 

669

 

 

 

(177

)

 

 

714

 

 

 

(144

)

Comprehensive loss

 

 

(86,440

)

 

 

(75,389

)

 

 

(240,569

)

 

 

(293,730

)

Comprehensive loss attributable to noncontrolling interests

 

 

(3,086

)

 

 

(10,797

)

 

 

(14,324

)

 

 

(64,338

)

Comprehensive loss attributable to Sorrento

 

$

(83,354

)

 

$

(64,592

)

 

$

(226,245

)

 

$

(229,392

)

 

See accompanying notes to unaudited consolidated financial statements

5


 

SORRENTO THERAPEUTICS, INC.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands, except for share amounts; unaudited)

 

 

 

Nine Months Ended September 30, 2020

 

 

 

Common Stock

 

 

Treasury Stock

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

Additional

Paid-in

Capital

 

 

Other

Comprehensive

Income (Loss)

 

 

Accumulated

Deficit

 

 

Noncontrolling

Interest

 

 

Total

 

Balance, December 31, 2019

 

 

167,798,120

 

 

$

18

 

 

 

7,568,182

 

 

$

(49,464

)

 

$

788,122

 

 

$

(270

)

 

$

(659,818

)

 

$

(45,832

)

 

$

32,756

 

Exercise of stock options, net

 

 

1,213,924

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,074

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,074

 

Issuance of common stock upon exercise of

   warrants

 

 

33,080,916

 

 

 

3

 

 

 

 

 

 

 

 

 

92,733

 

 

 

 

 

 

 

 

 

 

 

 

92,736

 

Issuance of common stock for equity

   offerings

 

 

55,815,693

 

 

 

7

 

 

 

 

 

 

 

 

 

213,002

 

 

 

 

 

 

 

 

 

 

 

 

213,009

 

Equity issued for SmartPharm acquisition

 

 

1,832,166

 

 

 

 

 

 

 

 

 

 

 

 

19,421

 

 

 

 

 

 

 

 

 

 

 

 

19,421

 

Other acquisitions, license agreements and

   investments paid in equity

 

 

1,996,803

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,544

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,544

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13,312

 

 

 

 

 

 

 

 

 

 

 

 

13,312

 

Foreign currency translation adjustment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

714

 

 

 

 

 

 

 

 

 

 

714

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(226,959

)

 

 

(14,324

)

 

 

(241,283

)

Balance, September 30, 2020

 

 

261,737,622

 

 

$

28

 

 

 

7,568,182

 

 

$

(49,464

)

 

$

1,141,208

 

 

$

444

 

 

$

(886,776

)

 

$

(60,156

)

 

$

145,284

 

 

 

 

Three Months Ended September 30, 2020

 

 

 

Common Stock

 

 

Treasury Stock

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

Additional

Paid-in

Capital

 

 

Other

Comprehensive

Income (Loss)

 

 

Accumulated

Deficit

 

 

Noncontrolling

Interest

 

 

Total

 

Balance, June 30, 2020

 

 

231,846,901

 

 

$

25

 

 

 

7,568,182

 

 

$

(49,464

)

 

$

989,702

 

 

$

(225

)

 

$

(802,753

)

 

$

(57,070

)

 

$

80,215

 

Exercise of stock options, net

 

 

287,979

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,177

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,177

 

Issuance of common stock upon exercise of

   warrants

 

 

19,956,874

 

 

 

2

 

 

 

 

 

 

 

 

 

53,874

 

 

 

 

 

 

 

 

 

 

 

 

53,876

 

Issuance of common stock for equity

   offerings

 

 

6,816,899

 

 

 

1