Sorrento Therapeutics Management

Management criteria checks 3/4

Sorrento Therapeutics' CEO is Henry Ji, appointed in Sep 2012, has a tenure of 10.67 years. total yearly compensation is $10.07M, comprised of 20.1% salary and 79.9% bonuses, including company stock and options. directly owns 0.84% of the company’s shares, worth €1.30M. The average tenure of the management team and the board of directors is 3.3 years and 6.8 years respectively.

Key information

Henry Ji

Chief executive officer

US$10.1m

Total compensation

CEO salary percentage	20.1%
CEO tenure	10.7yrs
CEO ownership	0.8%
Management average tenure	3.3yrs
Board average tenure	6.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Henry Ji's remuneration changed compared to Sorrento Therapeutics's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2023	n/a	n/a	-US$672m
Dec 31 2022	US$10m	US$2m	-US$573m
Sep 30 2022	n/a	n/a	-US$494m
Jun 30 2022	n/a	n/a	-US$524m
Mar 31 2022	n/a	n/a	-US$472m
Dec 31 2021	US$20m	US$2m	-US$428m
Sep 30 2021	n/a	n/a	-US$355m
Jun 30 2021	n/a	n/a	-US$320m
Mar 31 2021	n/a	n/a	-US$231m
Dec 31 2020	US$158m	US$839k	-US$298m
Sep 30 2020	n/a	n/a	-US$290m
Jun 30 2020	n/a	n/a	-US$270m
Mar 31 2020	n/a	n/a	-US$249m
Dec 31 2019	US$8m	US$781k	-US$292m
Sep 30 2019	n/a	n/a	-US$279m
Jun 30 2019	n/a	n/a	-US$262m
Mar 31 2019	n/a	n/a	-US$279m
Dec 31 2018	US$5m	US$670k	-US$204m
Sep 30 2018	n/a	n/a	-US$105m
Jun 30 2018	n/a	n/a	-US$60m
Mar 31 2018	n/a	n/a	-US$378k
Dec 31 2017	US$2m	US$600k	US$9m
Sep 30 2017	n/a	n/a	-US$57m
Jun 30 2017	n/a	n/a	-US$39m
Mar 31 2017	n/a	n/a	-US$68m
Dec 31 2016	US$2m	US$600k	-US$61m

Compensation vs Market: Henry's total compensation ($USD10.07M) is above average for companies of similar size in the German market ($USD603.52K).

Compensation vs Earnings: Henry's compensation has been consistent with company performance over the past year.

CEO

Henry Ji (58 yo)

10.7yrs

Tenure

US$10,069,893

Compensation

Dr. Henry H. Ji, Ph.D. serves as Director at Aardvark Therapeutics, Inc. since 2022. Dr. Ji serves as Executive Chairman of the Board at SCILEX Pharmaceuticals, Inc. Dr. Ji serves as Executive Chairman of...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Henry Ji	Chairman	10.7yrs	US$10.07m	0.84% € 1.3m
Elizabeth Czerepak	Executive VP	less than a year	US$922.24k	0% € 0
Brian Cooley	Senior Vice President of Corporate Communications & Lymphatic Drug Development BU	1.3yrs	no data	no data
Michael Royal	SVP & Chief Medical Officer	3.3yrs	US$557.04k	no data
Alexis Nahama	Senior Vice President of Neurotherapeutics BU	3.3yrs	no data	no data
Mark Brunswick	Senior Vice President of Regulatory Affairs	3.3yrs	no data	no data
Shawn Sahebi	Senior Vice President of Commercial Operations	3.3yrs	no data	no data
Xiao Xu	President of ACEA	1.3yrs	no data	no data

3.3yrs

Average Tenure

66yo

Average Age

Experienced Management: 8STN's management team is considered experienced (3.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Henry Ji	Chairman	17.3yrs	US$10.07m	0.84% € 1.3m
David Lemus	Independent Director	5.6yrs	US$181.33k	0% € 0
Jaisim Shah	Director	9.7yrs	US$868.23k	0.021% € 32.0k
Tammy Reilly	Independent Director	less than a year	US$175.92k	0% € 0
Kim Janda	Chair of Scientific Advisory Board & Director	11.1yrs	US$82.50k	0% € 0
Yue Wu	Independent Director	6.8yrs	US$150.00k	0.00092% € 1.4k
Dorman Followwill	Lead Independent Director	5.6yrs	US$250.02k	0.00039% € 602.3

6.8yrs

Average Tenure

59yo

Average Age

Experienced Board: 8STN's board of directors are considered experienced (6.8 years average tenure).

Sorrento Therapeutics Management

Management criteria checks 3/4

Key information

Recent management updates

Sorrento Therapeutics, Inc. Announces Resignation of Tammy Reilly from the Board of Directors

Sorrento Therapeutics, Inc., Annual General Meeting, Apr 06, 2023

Less than half of directors are independent

Less than half of directors are independent

Sorrento Therapeutics, Inc., Annual General Meeting, Dec 15, 2022

Less than half of directors are independent

Recent updates

Final DIP Financing Approved for Sorrento Therapeutics, Inc.

Motion for Case Dismissal Rejected for Sorrento Therapeutics, Inc.

Sorrento Therapeutics, Inc. Announces Resignation of Tammy Reilly from the Board of Directors

Sorrento Therapeutics, Inc. Announces Phase 3 Trial Met Primary Endpoint and Key Secondary Endpoint in Mild or Moderate COVID-19 Adult Patients Treated with Ovydso

Sorrento Therapeutics Announces Positive Phase 2a Clinical Trial Results for Resiniferatoxin (RTX) for the Treatment of Knee Pain in Moderate to Severe Osteoarthritis of the Knee Patients

Oramed Pharmaceuticals Inc. (NasdaqCM:ORMP) entered into a Stalking Horse Stock Purchase Term Sheet to acquire a 40.17% stake in Scilex Holding Company (NasdaqCM:SCLX) from Sorrento Therapeutics, Inc. (OTCPK:SRNE.Q) for approximately $110 million.

Sorrento Therapeutics, Inc. announced delayed 10-Q filing

Sorrento Announces Positive Phase IIa Study Results of Abivertinib for the Treatment of Relapsed/Refractory Marginal Zone Lymphoma (R/R Mzl)

Sorrento Therapeutics, Inc. Announces Full Enrollment of Pivotal Phase 3 Trial with Olgotrelvir (OVYDSOTM) (STI-1558), Second Generation Oral Mpro Inhibitor, as Standalone Treatment for COVID-19

Sorrento Therapeutics, Inc. announced delayed 10-Q filing

Sorrento Therapeutics, Inc.(NasdaqCM:SRNE) dropped from S&P Biotechnology Select Industry Index

Sorrento Therapeutics Received Written Notice from the Staff of The Nasdaq Stock Market LLC

Sorrento Therapeutics, Inc., Annual General Meeting, Apr 06, 2023

Sorrento Therapeutics, Inc. Releases Unblinded Phase 1B Study Data of Its Oral Main Viral Protease Inhibitor, OVYDSO™ (STI-1558) in Covid Patients

Sorrento Therapeutics Receives FDA Clearance to Initiate Clinical Trials with A Next Generation mRNA (STI-1557) Vaccine Against Omicron SARS-CoV-2 Virus

Sorrento Therapeutics, Inc. Announces Positive Phase II Results of PD-L1 Checkpoint Inhibitor IMC-001 Presented At Asian Congress of the European Society for Medical Oncology (Esmo)

Sorrento Releases Positive Topline Results from the Phase I Study Completed in Australia and Preliminary Results from A Phase IB Study in China with STI-1558

Less than half of directors are independent

Third quarter 2022 earnings released: US$0.20 loss per share (vs US$0.40 loss in 3Q 2021)

Less than half of directors are independent

Sorrento Therapeutics, Inc., Annual General Meeting, Dec 15, 2022

Sorrento Therapeutics, Inc. Successfully Completes Phase 1 Study and Is Proceeding to Implement Global Registrational Trials with Sti-1558, an Oral Mpro Inhibitor as A Standalone Oral Treatment and Prevention of Covid-19 Without the Need for A Ritonavir Booster

Sorrento Therapeutics, Inc. Completes Enrollment of Phase 2 Clinical Trial of Resiniferatoxin (RTX) for Treatment of Knee Pain in Moderate to Severe Osteoarthritis of the Knee (OAK) Patients

Sorrento Reports Positive Trial Results Utilizing Sofusa Lymphatic Delivery of Etanercept, Achieving Significant Improvements in Rheumatoid Arthritis Disease Measures At 50% of the Standard Dose for Patients (7 of 7) with an Inadequate Response to Subcutaneous Injections

Sorrento Therapeutics, Inc. Announces Significant Positive Pivotal Trial Results as Assessed by an Independent Review Committee (IRC) With Matured Long-Term (Over Three Years) Follow-Up Data of Abivertinib for the Treatment of Advanced Non-Small Cell Lung Cancer

Sorrento Therapeutics, Inc. Announces China National Medical Products Administration (NMPA) IND Clearance of STI-1558, An Oral Mpro Inhibitor for Phase I Trial In COVID-19 Patients

Sorrento Therapeutics, Inc. announced delayed 10-Q filing

Sorrento Therapeutics, Inc. Announces the Completion of the SAD Portion of the Phase 1 Study of Its Oral Main Viral Protease (Mpro) Inhibitor, the STI-1558

Sorrento Therapeutics Announces the FDA IND Clearance of STI-1558, An Oral M(pro) and Cathepsin L Inhibitor to Treat COVID-19

Sorrento Therapeutics, Inc. Announces First Subject Dosed in A Phase I Clinical Study of Sti-1558, an Oral Mpro Inhibitor as A Standalone Treatment and Prevention of Covid-19 Without Co-Administration of Ritonavir Booster

Less than half of directors are independent

Sorrento Therapeutics, Inc. Appoints Former Roche Executive Tammy Reilly to the Board of Directors

Sorrento Therapeutics, Inc. Announces FDA Authorization to Proceed With Phase 2 Study of Abivertinib to Treat Metastatic Castrate Resistant Prostate Cancer (MAVERICK Trial)

Sorrento Announces Full Enrollment of Phase I Study of Intranasal STI-9199 (COVISHIELD IN), a Potent Neutralization Antibody Against Omicron BA.2 and All Variants of Concern

Sorrento Therapeutics, Inc. Announces That It Has Received Clearance from the FDA for Its Investigational New Drug Application for Intravenous (Iv) Sti-9167

Sorrento Therapeutics Announces the Appointment of Laura Hamill to Its Board of Directors

Sorrento Reports FDA Clearance for the Commencement of a Phase 2/3 Study for Abivertinib in Treatment of Hospitalized Patients with Severe Pneumonia Due to Covid-19

Sorrento Announces COVISHIELD (STI-9199) Antibody Nasal Drops Prevent Productive SARS-CoV-2 Infections When Given 24 Hours Prior to Virus Exposure

Sorrento Therapeutics, Inc. announced delayed annual 10-K filing

Sorrento Therapeutics, Inc Announces COVISHIELD (STI-9167) Antibody Strongly Neutralizes BA.2 Omicron Sublineage Virus as Well as BA.1 and BA.1+R346k Omicron Viruses

Sorrento Therapeutics, Inc. (NasdaqCM:SRNE) acquired an unknown majority stake in Zhengzhou Fortune Bioscience Co., Ltd..

Sorrento Therapeutics, Inc. (NasdaqCM:SRNE) completed the acquisition of Virex Health, Inc.

Sorrento Announces its Oral SARS-CoV-2 Main Protease (Mpro) Inhibitor, STI-1558, Strongly Neutralizes Omicron

Sorrento Therapeutics, Inc. Announces Covishield (STI-9167), A Broad-Spectrum Neutralizing Antibody, Potently Neutralizes Omicron and Omicron (+R346K) Variants of Sars-Cov-2

Sorrento Therapeutics, Inc. Announces Completion of Enrollment in US Phase 2 Clinical Trial for Covi-Drops and Achievement of Interim Analysis Threshold in the UK

Brazilian Health Regulatory Agency Authorizes Sorrento Therapeutics, Inc.'s Phase 2 Clinical Trial of COVI-MSC in COVID-19 Patients With Persistent Pulmonary Compromise After Recovery (Long-Hauler)

Sorrento Therapeutics Announces FDA Clearance of Its IND Application of Next Generation oHSV Oncolytic Virus STI-1386 for Patients With Relapsed and Refractory Solid Tumors

Sorrento Therapeutics, Inc. Begins Enrollment in Phase 2 Trial of Resiniferatoxin for the Treatment of Pain Due to Knee Osteoarthritis (OA)

Sorrento Announces Publication of Series of Novel Sars-Cov-2 Main Protease (Mpro) Inhibitors for Potential Treatment of Covid-19 Patients Infected with Sars-Cov-2 Variants of Concern, Including Omicron

Insufficient new directors

Third quarter 2021 earnings released: US$0.40 loss per share (vs US$0.33 loss in 3Q 2020)

Sorrento Announces an Independent Real-World Study That Reports Superior Sensitivity Results in Detecting COVID-19 Virus Infections in All-Comer General Population by COVISTIX as Compared to a Globally Leading Rapid Antigen Test

Sorrento Therapeutics, Inc. Announces Enrollment of First Subject in Brazil Phase 2 Study of COVI-MSC for Treatment of COVID-19 Associated Acute Respiratory Distress in ICU Patients

Sorrento Therapeutics, Inc. Reports Promising Results With mRNA Vaccine For COVID-19 Delivered With The MuVaxx Lymphatic Drug Delivery Device

Sorrento Therapeutics, Inc. Publishes Positive Initial Results of Sofusa® Lymphatic Drug Delivery System in A Phase 1B Rheumatoid Arthritis Study Using Enbrel

Sorrento Announces its Lead Protein-Based COVID-19 Vaccine Candidate – DYAI-100 – Elicits Strong Neutralizing Immune Responses in Vaccinated Animals Against SARS-CoV-2 and Multiple Major Variants of Concern

Sorrento Therapeutics, Inc. Unveils Overview of Its MultiValent mRNA COVID-19 Vaccine Development Program

No longer forecast to breakeven

Second quarter 2021 earnings released: US$0.57 loss per share (vs US$0.36 loss in 2Q 2020)

Sorrento Receives FDA Authorization to Start Phase 1 Clinical Trial of Proprietary, "Off-the-Shelf", Allogeneic anti-CD38 DAR-T (Dimeric Antigen Receptor-T) Cell Therapy to Treat Relapsed or Refractory Multiple Myeloma

Sorrento Therapeutics, Inc. Announces Dosing of COVID-19 Patients in Phase 2 Clinical Trial for COVIDROPS

Sorrento Therapeutics, Inc.(NasdaqCM:SRNE) dropped from Russell 3000E Index

Sorrento Therapeutics, Inc. Receives Emergency Use Authorization Approval and Import License from COFEPRIS for COVI-STIX and Plans Product Launch with Initial Shipments in July

Sorrento Announces Phase 2 Abivertinib Clinical Studies Have Completed Patient Enrollment in USA and Brazil with Top-Line Clinical Data Expected End of Third Quarter of 2021

Sorrento Receives Authorization From the UK Regulatory Agency to Conduct a Phase 2 Clinical Trial for COVI-DROPS in an Outpatient Setting

Sorrento Announces Positive Results from Its License Partner, Kelun, on A Phase I Study of Safety and Pharmacokinetics of A166, A Novel Her2 ADC for Advanced Her2 Positive Breast Cancers

Sorrento Therapeutics, Inc. (NasdaqCM:SRNE) completed the acquisition of ACEA Therapeutics, Inc. for approximately $550 million.

Brazilian Health Regulatory Agency Authorizes Sorrento Therapeutics, Inc.'s Phase 2 Pivotal Clinical Trial of COVI-MSC™ in Hospitalized COVID-19 Patients with Acute Respiratory Distress Syndrome

First quarter 2021 earnings released: EPS US$0.009 (vs US$0.36 loss in 1Q 2020)