Sorrento Therapeutics Inc

NASDAQ:SRNE   3:59:59 PM EDT
7.20
+0.19 (+2.71%)
Products, Other Pre-Announcement

Sorrento Therapeutics Inc Says To Pay Mayo An Upfront License Fee Of $9.3 Million

Published: 09/14/2020 10:36 GMT
Sorrento Therapeutics Inc (SRNE) - Sorrento Therapeutics Inc - Under License Agreement, to Pay Mayo an Upfront License Fee of $9.3 Million.
Sorrento Therapeutics Inc - to Reimburse Mayo Up to $3.4 Million for Preclinical and Clinical Research Expenses.
Sorrento Therapeutics Inc - to Pay Mayo Certain Milestone Payments Upon Initiation of Certain Clinical Trials.
Sorrento - Will Also Pay Certain Royalties in Low-single Digit to Mid-single Digit Percentages of Annual Net Sales of Licensed Products by Company.