Sorrento Therapeutics (SRNE) 10-Q 4 Aug 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Trading Symbol	SRNE
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Transition Report	false
Entity File Number	001-36150
Entity Registrant Name	SORRENTO THERAPEUTICS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-0344842
Entity Address, Address Line One	4955 Directors Place
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	203-4100
Title of 12(b) Security	Common Stock, $0.0001 par value
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		242,026,582
Entity Central Index Key	0000850261
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 24,388	$ 22,521
Restricted cash		13,098
Accounts receivables, net	13,801	14,454
Inventory	2,447	3,362
Prepaid expenses and other	14,365	14,153
Total current assets	55,001	67,588
Property and equipment, net	27,523	29,888
Operating lease right-of-use assets	45,070	46,384
Intangibles, net	61,324	63,308
Goodwill	38,298	38,298
Cost method investments	237,008	237,008
Equity method investments	19,978	25,233
Restricted cash	45,000	45,150
Other, net	3,866	4,775
Total assets	533,068	557,632
Current liabilities:
Accounts payable	26,605	27,630
Accrued payroll and related benefits	17,909	15,914
Accrued expenses	19,711	18,728
Current portion of deferred revenue	4,107	3,643
Acquisition consideration payable	398	908
Current portion of derivative liabilities		8,800
Current portion of debt	19,151	36,261
Current portion of operating lease liabilities	3,460	3,322
Total current liabilities	91,341	115,206
Long-term debt, net of discount	147,027	199,088
Deferred tax liabilities, net	7,055	9,043
Deferred revenue	113,781	114,389
Derivative liabilities	41,900	35,000
Operating lease liabilities	51,200	52,111
Other long-term liabilities	549	39
Total liabilities	452,853	524,876
Commitments and contingencies (See Note 10)
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 231,846,901 and 167,798,120 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	25	18
Additional paid-in capital	989,702	788,122
Accumulated other comprehensive loss	(225)	(270)
Accumulated deficit	(802,753)	(659,818)
Treasury stock, 7,568,182 shares at cost at June 30, 2020, and December 31, 2019	(49,464)	(49,464)
Total Sorrento Therapeutics, Inc. stockholders’ equity	137,285	78,588
Noncontrolling interests	(57,070)	(45,832)
Total equity	80,215	32,756
Total liabilities and stockholders’ equity	$ 533,068	$ 557,632

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value (USD per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	231,846,901	167,798,120
Common stock, shares outstanding (in shares)	231,846,901	167,798,120
Treasury stock, shares (in shares)	7,568,182	7,568,182

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Revenues	$ 9,007	$ 6,477	$ 16,728	$ 12,620
Operating costs and expenses:
Research and development	24,150	24,793	45,304	50,409
Acquired in-process research and development	4,881		4,881	75,301
Selling, general and administrative	24,463	27,772	50,762	52,894
Intangible amortization	992	992	1,984	1,958
Total operating costs and expenses	56,735	56,838	107,619	186,151
Loss from operations	(47,728)	(50,361)	(90,891)	(173,531)
(Loss) gain on trading securities		(76)	(59)	18
Loss on debt extinguishment	(28,294)		(51,939)
Gain (loss) on derivative liabilities	1,980	(10,591)	6,900	(25,092)
(Loss) gain on foreign currency exchange	124	(411)	(23)	(98)
Interest expense	(8,297)	(9,520)	(15,122)	(18,600)
Interest income	2	305	21	839
Loss before income tax	(82,213)	(70,654)	(151,113)	(216,464)
Income tax benefit	(1,919)	(383)	(2,195)	(561)
Loss on equity method investments	(4,699)	(1,574)	(5,255)	(2,471)
Net loss	(84,993)	(71,845)	(154,173)	(218,374)
Net loss attributable to noncontrolling interests	(7,253)	(15,083)	(11,238)	(53,541)
Net loss attributable to Sorrento	$ (77,740)	$ (56,762)	$ (142,935)	$ (164,833)
Net loss per share - basic per share attributable to Sorrento (USD per share)	$ (0.36)	$ (0.46)	$ (0.72)	$ (1.35)
Net loss per share - diluted per share attributable to Sorrento (USD per share)	$ (0.36)	$ (0.47)	$ (0.72)	$ (1.51)
Weighted-average shares used during period - basic per share attributable to Sorrento (in shares)	216,956	122,549	199,782	122,415
Weighted-average shares used during period - diluted per share attributable to Sorrento (in shares)	216,956	132,459	199,782	128,132
Product
Revenues:
Revenues	$ 5,794	$ 4,699	$ 11,042	$ 8,058
Operating costs and expenses:
Cost of products sold and services	699	589	1,247	1,029
Service
Revenues:
Revenues	3,213	1,778	5,686	4,562
Operating costs and expenses:
Cost of products sold and services	$ 1,550	$ 2,692	$ 3,441	$ 4,560

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (84,993)	$ (71,845)	$ (154,173)	$ (218,374)
Other comprehensive loss (gain):
Foreign currency translation adjustments	(10)	(52)	45	33
Total other comprehensive loss (gain)	(10)	(52)	45	33
Comprehensive loss	(85,003)	(71,897)	(154,128)	(218,341)
Comprehensive loss attributable to noncontrolling interests	(7,253)	(15,083)	(11,238)	(53,541)
Comprehensive loss attributable to Sorrento	$ (77,750)	$ (56,814)	$ (142,890)	$ (164,800)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Semnur	Common Stock	Treasury Stock	Additional Paid-in Capital	Additional Paid-in CapitalSemnur	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Noncontrolling Interest	Noncontrolling InterestSemnur
Balance, shares (in shares) at Dec. 31, 2018			122,280,092	7,568,182
Balance at Dec. 31, 2018	$ 207,500		$ 13	$ (49,464)	$ 626,658		$ 15	$ (367,750)	$ (1,972)
Balance, shares (in shares) at Mar. 31, 2019			122,311,917	7,568,182
Balance at Mar. 31, 2019	118,113		$ 13	$ (49,464)	657,115		100	(475,821)	(13,830)
Balance, shares (in shares) at Dec. 31, 2018			122,280,092	7,568,182
Balance at Dec. 31, 2018	207,500		$ 13	$ (49,464)	626,658		15	(367,750)	(1,972)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)			365,242
Exercise of stock options, net	1,206				1,206
Issuance of common stock, conversion of notes payable		$ 55,000				$ 28,400				$ 26,600
Stock-based compensation	4,963				4,963
Issuance of 2019 Warrants	4,288				4,288
Foreign currency translation adjustment	33						33
Net loss	(218,374)							(164,833)	(53,541)
Balance, shares (in shares) at Jun. 30, 2019			122,645,334	7,568,182
Balance at Jun. 30, 2019	54,616		$ 13	$ (49,464)	665,515		48	(532,583)	(28,913)
Balance, shares (in shares) at Mar. 31, 2019			122,311,917	7,568,182
Balance at Mar. 31, 2019	118,113		$ 13	$ (49,464)	657,115		100	(475,821)	(13,830)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)			333,417
Exercise of stock options, net	1,125				1,125
Stock-based compensation	2,987				2,987
Issuance of 2019 Warrants	4,288				4,288
Foreign currency translation adjustment	(52)						(52)
Net loss	(71,845)							(56,762)	(15,083)
Balance, shares (in shares) at Jun. 30, 2019			122,645,334	7,568,182
Balance at Jun. 30, 2019	54,616		$ 13	$ (49,464)	665,515		48	(532,583)	(28,913)
Balance, shares (in shares) at Dec. 31, 2019			167,798,120	7,568,182
Balance at Dec. 31, 2019	32,756		$ 18	$ (49,464)	788,122		(270)	(659,818)	(45,832)
Balance, shares (in shares) at Mar. 31, 2020			204,566,004	7,568,182
Balance at Mar. 31, 2020	51,226		$ 23	$ (49,464)	875,712		(215)	(725,013)	(49,817)
Balance, shares (in shares) at Dec. 31, 2019			167,798,120	7,568,182
Balance at Dec. 31, 2019	$ 32,756		$ 18	$ (49,464)	788,122		(270)	(659,818)	(45,832)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	925,945		925,945
Exercise of stock options, net	$ 3,896				3,896
Issuance of common stock upon issuance of warrants (in shares)			13,124,042
Issuance of common stock upon exercise of warrants	38,861		$ 1		38,860
Issuance of common stock for equity offerings (in shares)			49,998,794
Issuance of common stock for equity offerings	151,813		$ 6		151,807
Stock-based compensation	7,017				7,017
Foreign currency translation adjustment	45						45
Net loss	(154,173)							(142,935)	(11,238)
Balance, shares (in shares) at Jun. 30, 2020			231,846,901	7,568,182
Balance at Jun. 30, 2020	80,215		$ 25	$ (49,464)	989,702		(225)	(802,753)	(57,070)
Balance, shares (in shares) at Mar. 31, 2020			204,566,004	7,568,182
Balance at Mar. 31, 2020	51,226		$ 23	$ (49,464)	875,712		(215)	(725,013)	(49,817)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)			876,752
Exercise of stock options, net	3,797				3,797
Issuance of common stock upon issuance of warrants (in shares)			8,115,433
Issuance of common stock upon exercise of warrants	25,327		$ 1		25,326
Issuance of common stock for equity offerings (in shares)			18,288,712
Issuance of common stock for equity offerings	81,533		$ 1		81,532
Stock-based compensation	3,335				3,335
Foreign currency translation adjustment	(10)						(10)
Net loss	(84,993)							(77,740)	(7,253)
Balance, shares (in shares) at Jun. 30, 2020			231,846,901	7,568,182
Balance at Jun. 30, 2020	$ 80,215		$ 25	$ (49,464)	$ 989,702		$ (225)	$ (802,753)	$ (57,070)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Operating activities
Net loss	$ (84,993)	$ (154,173)	$ (218,374)
Adjustments to reconcile net loss to net cash used for operating activities:
Depreciation and amortization		5,653	5,934
Non-cash operating lease cost		1,689	2,217
Non-cash interest expense and amortization of debt issuance costs		7,955	12,341
Acquired in-process research and development	4,881	4,881	75,301
Stock-based compensation		7,017	4,963
Loss on debt extinguishment	28,294	51,939
(Gain) Loss on derivative liabilities	(1,980)	(6,900)	25,092
Loss on equity method investments	4,699	5,255	2,471
Deferred tax provision		(1,989)	(493)
Changes in operating assets and liabilities, excluding effect of acquisitions:
Accounts receivable		655	(5,952)
Accrued payroll		1,995	2,264
Prepaid expenses, deposits and other assets		1,612	(4,480)
Accounts payable		(1,241)	5,655
Accrued expenses and other liabilities		73	2,451
Deferred revenue		(144)	(435)
Other		(352)	(98)
Net cash used for operating activities		(76,075)	(91,143)
Investing activities
Purchases of property and equipment		(970)	(7,488)
Purchase of assets related to Semnur, net of cash acquired			(17,040)
Other acquisitions and investments		(2,312)
Net cash used for investing activities		(3,282)	(24,528)
Financing activities
Proceeds from short-term debt, net of issuance costs		7,815	18,858
Proceeds from exercise of stock options and warrants		42,757	1,206
Repayments of debt and other obligations		(131,853)	(1,658)
Net cash provided by (used for) financing activities		67,962	18,406
Net change in cash, cash equivalents and restricted cash		(11,395)	(97,265)
Net effect of exchange rate changes on cash		14	62
Cash, cash equivalents and restricted cash at beginning of period		80,769	213,330
Cash, cash equivalents and restricted cash at end of period	69,388	69,388	116,127
Cash paid during the period for:
Interest		3,148	6,178
Supplemental disclosures of non-cash investing and financing activities:
Semnur acquisition consideration paid in equity			55,000
Semnur acquisition costs incurred but not paid			601
Other acquisitions and investments paid in equity		2,569
Property and equipment costs incurred but not paid		217	2,671
Reconciliation of cash, cash equivalents and restricted cash within the Company’s consolidated balance sheets:
Cash and cash equivalents	24,388	24,388	61,385
Restricted cash	45,000	45,000	54,742
Cash, cash equivalents, and restricted cash	$ 69,388	69,388	$ 116,127
Public Offering Of Common Stock And Warrants 2019
Financing activities
Proceeds from equity offerings, net of issuance costs		$ 149,243

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	1. Description of Business and Basis of Presentation Description of Business Sorrento Therapeutics, Inc., together with its subsidiaries (the “Company”), is a clinical stage and commercial biopharmaceutical company focused on delivering innovative and clinically meaningful therapies to patients and their families to address unmet medical needs. At its core, the Company is antibody-centric and leverages its proprietary G-MAB™ library and targeted delivery modalities to generate the next generation of cancer therapeutics. These modalities include proprietary chimeric antigen receptor T-cell therapy (“CAR-T”), dimeric antigen receptor T-cell therapy (“DAR-T”), antibody drug conjugates (“ADCs”) as well as bispecific antibody approaches. The Company also has programs assessing the use of its technologies and products in autoimmune, inflammatory, viral and neurodegenerative diseases. Outside of immuno-oncology programs, as part of the Company`s global aim to provide a wide range of therapeutic and diagnostic products to meet underserved markets, the Company has made investments in non-opioid pain management and is currently conducting preclinical development of multiple therapeutic, vaccine and diagnostic product candidates utilizing its proprietary platforms for the potential treatment, prevention and detection of COVID-19 and SARS-CoV-2. Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company’s subsidiaries. For consolidated entities where the Company owns or is exposed to less than 100% of the economics, the Company records net income (loss) attributable to noncontrolling interests in its consolidated statements of operations equal to the percentage of the economic or ownership interest retained in such entities by the respective noncontrolling parties. All intercompany balances and transactions have been eliminated in consolidation. These consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Operating results for interim periods are not expected to be indicative of operating results for the Company’s 2020 fiscal year, or any subsequent period. The unaudited interim financial statements included herein reflect all normal and recurring adjustments that are necessary for a fair presentation of the results for the interim periods presented. Use of Estimates To prepare consolidated financial statements in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”), management must make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Significant Accounting Policies During the six months ended June 30, 2020, there have been no changes to the Company`s significant accounting policies as described in its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 outside of new accounting pronouncements as described below. Revenue Recognition The following table shows revenue disaggregated by product and service type for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Scilex Pharmaceuticals Inc. product sales $ 5,757 $ 4,660 $ 10,969 $ 7,519 Other product sales 37 39 73 539 Net product revenue $ 5,794 $ 4,699 $ 11,042 $ 8,058 Concortis Biosystems Corporation $ 1,507 $ 1,205 $ 2,829 $ 3,015 Bioserv Corporation 1,586 453 2,617 1,307 Other revenue 120 120 240 240 Service revenue $ 3,213 $ 1,778 $ 5,686 $ 4,562 Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, In December 2019, the FASB issued ASU No. 2019-12, Income Taxes Topic 740): Simplifying the Accounting for Income Taxes. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment (Topic 350).

Liquidity and Going Concern

Liquidity and Going Concern	6 Months Ended
	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Liquidity and Going Concern	2. Liquidity and Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has negative working capital and recurring losses from operations, recurring negative cash flows from operations and substantial cumulative net losses to date and anticipates that it will continue to do so for the foreseeable future as it continues to identify and invest in advancing product candidates, as well as expanding corporate infrastructure. The Company has plans in place to obtain sufficient additional fundraising to fulfill its operating, debt servicing and capital requirements for the next 12 months. The Company’s plans include continuing to fund its operating losses and capital funding needs through public or private equity or debt financings, strategic collaborations, licensing arrangements, asset sales, government grants or other arrangements. Although management believes such plans, if executed, should provide the Company sufficient financing to meet its needs, successful completion of such plans is dependent on factors outside of the Company’s control. As such, management cannot conclude that such plans will be effectively implemented within one year after the date that the financial statements are issued. As a result, management has concluded that the aforementioned conditions, among others, raise substantial doubt about the Company’s ability to continue as a going concern for one year after the date the financial statements are issued. If the Company is unable to raise additional capital in sufficient amounts or on terms acceptable, the Company may have to significantly delay, scale back or discontinue the development or commercialization of one or more of its product candidates. The Company may also seek collaborators for one or more of its current or future product candidates at an earlier stage than otherwise would be desirable or on terms that are less favorable than might otherwise be available. Furthermore, the spread of COVID-19, which has caused a broad impact globally, may materially affect the Company economically. While the potential economic impact brought by, and the duration of, COVID-19 may be difficult to assess or predict, a widespread pandemic could result in significant disruption of global financial markets, reducing the Company’s ability to access capital, which could in the future negatively affect its liquidity. If the Company raises additional funds by issuing equity securities, substantial dilution to existing stockholders would result. If the Company raises additional funds by incurring debt financing, the terms of the debt may involve significant cash payment obligations as well as covenants and specific financial ratios that may restrict the Company’s ability to operate its business.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): Fair Value Measurements at June 30, 2020 Balance Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash and cash equivalents $ 24,388 $ 24,388 $ — $ — Restricted cash 45,000 45,000 — — Total assets $ 69,388 $ 69,388 $ — $ — Liabilities: Derivative liabilities - non-current $ 41,900 $ — $ — $ 41,900 Acquisition consideration payable 398 — — 398 Acquisition consideration payable - non-current 549 — — 549 Total liabilities $ 42,847 $ — $ — $ 42,847 Fair Value Measurements at December 31, 2019 Balance Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash and cash equivalents $ 22,521 $ 22,521 $ — $ — Restricted cash 58,248 58,248 — — Total assets $ 80,769 $ 80,769 $ — $ — Liabilities: Derivative liabilities $ 8,800 $ — $ — $ 8,800 Derivative liabilities - non-current 35,000 — — 35,000 Acquisition consideration payable 908 — — 908 Acquisition consideration payable - non-current 39 — — 39 Total liabilities $ 44,747 $ — $ — $ 44,747 The Company’s financial assets and liabilities carried at fair value are comprised of cash, cash equivalents, restricted cash, derivative liabilities and acquisition consideration payable. Cash and cash equivalents consist of money market accounts and bank deposits which are highly liquid and readily tradable. These investments are valued using inputs observable in active markets for identical securities. The fair value of the acquisition consideration payable is measured on a recurring basis using significant unobservable inputs (Level 3). Acquisition consideration payable is measured using the income approach and discounting to present value the contingent payments expected to be made based on assessment of the probability that the company would be required to make such future payment. There were no changes to acquisition consideration payable during the six months ended June 30, 2020. Derivative liabilities The Company recorded a gain on derivative liabilities of $2.0 million and $6.9 million for the three and six months ended June 30, 2020, respectively, which related to the compound derivative liabilities associated with the Term Loans (as defined in Note 7 ) and the Scilex Notes (as defined in Note 7 ). The compound derivative liabilities consist of the fair value of various embedded features. Significant, Level 3 inputs and assumptions for the Term Loans consisted of the estimated probability of restructuring debt arrangements during the first half of 2020 and estimated probabilities of satisfying certain commercial and financial milestones estimated using a with and without discounted cash flow approach. As explained further in Note 7 , the Term Loans were paid in full as of June 30, 2020. As o f June 30, 2020 , the fair value of the derivative liabilities associated with the Scilex Notes was estimated using the discounted cash flow method under the income approach combined with a Monte Carlo simulation model. This involves significant Level 3 inputs and assumptions. The key assumptions for the Scilex Notes include a % risk adjusted net sales forecast, an effective debt yield of %, estimated probabilities of % and 100 % of not obtaining marketing approval before July 1, 2023 and March 31, 2021, respectively, and an estimated probability of a n initial public offering by Scilex Holding Company (“Scilex Holding”) that satisfies certain valuation thresholds and timing considerations. The following table includes a summary of the derivative liabilities measured at fair value using significant unobservable inputs (Level 3) during the six months ended June 30, 2020: (in thousands) Fair Value Beginning Balance at December 31, 2019 $ 43,800 Additions 8,800 Re-measurement of Fair Value (10,700 ) Ending Balance at June 30, 2020 $ 41,900

Investments

Investments	6 Months Ended
	Jun. 30, 2020
Equity Method Investments And Joint Ventures [Abstract]
Investments	4. Investments The Company’s equity method investments primarily include an ownership interest in Immunotherapy NANTibody, LLC (“NANTibody”) and NantCancerStemCell, LLC (“NantStem”). The Company’s other equity investments primarily include an ownership interest in ImmunityBio, Inc., NantBioScience, Inc. (“NantBioScience”) and Celularity Inc. During each of the three and six months ended June 30, 2020, the Company recorded an impairment loss of approximately $3.8 million related to an equity method investment for which the Company determined the investment’s value is no longer supportable. The loss is included within loss on equity method investments in the Company’s consolidated statement of operations. NANTibody In 2013, the Company acquired IgDraSol Inc. (“IgDraSol”), a private company focused on the development of oncologic agents for the treatment of cancer, from a third party unrelated to the NantWorks, LLC (“NantWorks”) affiliated entities for 3.0 million shares of the Company’s common stock and $380,000 of cash for a total purchase price of $29.1 million. This transaction included the acquisition of IgDraSol’s lead compound, Cynviloq TM In May 2015, the Company entered into an agreement with NantPharma, LLC (“NantPharma”), a NantWorks company, pursuant to which the Company sold to NantPharma all of its equity interests in IgDraSol, which continued to hold the rights to Cynviloq TM In April 2015, the Company and NantCell, Inc. (which subsequently changed its name to ImmunityBio, Inc.) (“NantCell”), a subsidiary of NantWorks, LLC (“NantWorks”), a private company owned by Dr. Patrick Soon-Shiong, established a new entity called Immunotherapy NANTibody, LLC (“NANTibody”) as a stand-alone biotechnology company with $100.0 million initial joint funding. NantCell owns 60% of the equity interest of NANTibody and agreed to contribute $60.0 million to NANTibody. The Company owns 40% of NANTibody and in July 2015, the Company had NantPharma contribute its portion of the initial joint funding of $40.0 million to NANTibody from the proceeds of the sale of IgDraSol. Additionally, the Company and NantCell were allowed to appoint two and three representatives, respectively, to NANTibody’s five-member Board of Directors. NANTibody focuses on accelerating the development of multiple immuno-oncology mAbs for the treatment of cancer, including but not limited to anti-PD-1, anti-PD-L1, anti-CTLA4mAbs and other immune-check point antibodies as well as ADCs and bispecific antibodies. NANTibody had been formed to advance pre-clinical and clinical immunology assets contributed by the Company and NantCell. The Company continues to hold 40% of the outstanding equity of NANTibody and NantCell holds the remaining 60%. Until July 2, 2017, NANTibody held approximately $100.0 million of cash and cash equivalents, and the Company recorded its investment in NANTibody at approximately $40.0 million. As an equity method investment, the Company’s ratable portion of 40% of money expended for the development of intellectual property assets held by NANTibody would be reflected within income (loss) on equity method investments in its statement of operations. As a result of limited spending at NANTibody, the cash on hand at NANTibody remained at approximately $100.0 million since the inception of the NANTibody joint venture until July 2, 2017. Further, the Company’s equity method investment in NANTibody remained at approximately $40.0 million until July 2, 2017. The financial statements of NANTibody are not received sufficiently timely for the Company to record its portion of earnings or loss in the current financial statements and therefore the Company reports its portion of earnings or loss on a quarter lag. In February 2018, NANTibody notified the Company that on July 2, 2017, NANTibody acquired all of the outstanding equity of IgDraSol in exchange for $90.1 million in cash. NANTibody purchased IgDraSol from NantPharma, which is controlled by NantWorks, an entity with a controlling interest in NantCell and NantPharma. Although the Company has had a designee serving on the Board of Directors of NANTibody since the formation of NANTibody in April 2015, and although the Company has held 40% of the outstanding equity of NANTibody since NANTibody’s formation, neither the Company nor its director designee was given any advance notice of NANTibody’s purchase of IgDraSol or of any board meeting or action to approve such purchase. As such, the Company’s designee on NANTibody’s Board of Directors was not given an opportunity to consider or vote on the transaction as a director and the Company was not given an opportunity to consider or vote on the transaction in its position as a significant (40%) equity holder of NANTibody. As a result of the July 2, 2017 purchase of IgDraSol, NANTibody’s cash and cash equivalents were reduced from $99.6 million as of June 30, 2017 to $9.5 million as of September 30, 2017, and NANTibody’s contributed capital was reduced from $100.0 million as of June 30, 2017 to $10.0 million as of September 30, 2017, to effect the transfer of IgDraSol from NantPharma to NANTibody. No additional information was provided to the Company to explain why NANTibody’s total assets as of September 30, 2017 were reduced by approximately $90.1 million. The Company requested, but did not receive, additional information from NANTibody for purposes of supporting the value of IgDraSol, including any information regarding clinical advancements in the entity since the sale of IgDraSol by the Company in May 2015. Prior to the communication of the transfer of IgDraSol from NantPharma to NANTibody, the Company relied on the cash and cash equivalents of NANTibody for purposes of determining the value of its investment in NANTibody, which capital was expended by NANTibody to acquire IgDraSol on July 2, 2017. As a result of the transfer of IgDraSol, the Company reassessed the recoverability of its equity method investment in NANTibody as of July 2, 2017. In doing so, the Company considered the expected outcomes for the intellectual property assets held by NANTibody as of July 2, 2017. As a result of the lack of evidence of any development activity associated with any of the assets held in NANTibody, given the passage of time since the formation of the joint venture, many competitive products from other drug developers worldwide have advanced and/or commercialized for the targeted disease indications of the assets held in NANTibody, and given the Company’s minority interest in NANTibody (the investee), the Company concluded that it does not have the ability to recover the carrying amount of the investment and an other-than-temporary decline in the value of the investment had occurred. Accordingly, an impairment was recorded to the Company’s equity method investment in NANTibody for the three and nine months ended September 30, 2017. The fair value of the Company’s investment in NANTibody was measured at fair value on July 2, 2017 using significant unobservable inputs (Level 3) due to the determination of fair value requiring significant judgment, including the potential outcomes of the intellectual property assets held by NANTibody. For these reasons, fair value was determined by applying the Company’s 40% equity interest in NANTibody to the remaining cash and cash equivalents, which resulted in an impairment of $36.0 million. The impairment resulted in a revised carrying value of the Company’s investment in NANTibody of $3.7 million which approximated its ratable 40% ownership of the cash maintained by NANTibody expected to be used for future research and development. As of June 30, 2020 and 2019, the carrying value of the Company’s investment in NANTibody was approximately $1.2 million and $3.2 million, respectively. NANTibody recorded a net loss of $1.7 million and $0.3 million for the three months ended March 31, 2020 and 2019, respectively. The Company recorded its portion of loss from NANTibody in loss on equity method investments on its consolidated statements of operations for the six months ended June 30, 2020 and 2019. As of March 31, 2020, NANTibody had $6.4 million in current assets, $3.2 million in current liabilities, $0.2 million in noncurrent assets and no noncurrent liabilities. NantStem In July 2015, the Company and NantBioScience established a new entity called NantCancerStemCell, LLC (“NantStem”) as a stand-alone biotechnology company with $100.0 million initial joint funding. As initially organized, NantBioScience was obligated to make a $60.0 million cash contribution to NantStem for a 60% equity interest in NantStem, and the Company was obligated to make a $40.0 million cash contribution to NantStem for a 40% equity interest in NantStem. Fifty percent of these contributions were funded in July 2015 and the remaining amounts were to be made by no later than September 30, 2015. The Company had NantPharma contribute its portion of the initial joint funding of $20.0 million to NantStem from the proceeds of the sale of IgDraSol. Pursuant to a Side Letter dated October 13, 2015, the NantStem joint venture agreement was amended to relieve the Company of the obligation to contribute the second $20.0 million payment, and its ownership interest in NantStem was reduced to 20%. NantBioScience’s funding obligations were unchanged. The Side Letter was negotiated at the same time the Company issued a call option on shares of NantKwest that it owned to Cambridge Equities, L.P. (“Cambridge”), a related party to NantBioScience. A loss related to other-than-temporary impairment of $0.5 million was recognized for the equity investment in NantStem for the year ended December 31, 2018. The Company is accounting for its interest in NantStem as an equity method investment, due to the significant influence the Company has over the operations of NantStem through its board representation and 20% voting interest. The Company’s investment in NantStem is reported in equity method investments on its consolidated balance sheets and its share of NantStem’s loss is recorded in loss on equity method investments on its consolidated statement of operations. As of each of the periods ended June 30, 2020 and 2019, the carrying value of the Company’s investment in NantStem was approximately $17.8 million. The financial statements of NantStem are not received sufficiently timely for the Company to record its portion of earnings or loss in the current financial statements and therefore the Company reports its portion of earnings or loss on a quarter lag. NantStem recorded a net loss of $0.4 million and $0.1 million for the three months ended March 31, 2020 and 2019, respectively. The Company recorded its portion of income from NantStem in loss on equity method investments on its consolidated statements of operations for the six months ended June 30, 2020 and 2019. As of March 31, 2020, NantStem had $76.4 million in current assets, $13.0 thousand in current liabilities, $3.8 million in noncurrent assets and no noncurrent liabilities.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	5. Goodwill and Intangible Assets At both June 30, 2020 and December 31, 2019, the Company had recorded goodwill of $38.3 million. Goodwill for the Sorrento Therapeutics segment and Scilex segment was $31.6 million and $6.7 million, respectively, as of June 30, 2020. Intangible assets with indefinite useful lives totaling $14.4 million are included in acquired in-process research and development in the table below. A summary of the Company’s identifiable intangible assets as of June 30, 2020 and December 31, 2019 is as follows (in thousands, except for years): June 30, 2020 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Intangibles, Net Customer relationships 6 $ 1,585 $ 1,413 $ 172 Acquired developed technology 19 3,410 1,148 2,262 Acquired in-process research and development — 14,360 — 14,360 Technology placed in service 15 21,940 2,560 19,380 Patent rights 15 32,720 8,012 24,708 Assembled workforce 5 605 163 442 Total intangible assets $ 74,620 $ 13,296 $ 61,324 December 31, 2019 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Intangibles, Net Customer relationships 6 $ 1,585 $ 1,401 $ 184 Acquired developed technology 19 3,410 1,060 2,350 Acquired in-process research and development — 14,360 — 14,360 Technology placed in service 15 21,940 1,828 20,112 Patent rights 15 32,720 6,922 25,798 Assembled workforce 5 605 101 504 Total intangible assets $ 74,620 $ 11,312 $ 63,308 Aggregate amortization expense was $1.0 million for each of the three months ended June 30, 2020 and 2019. Aggregate amortization expense was $2.0 million for each of the six months ended June 30, 2020 and 2019. Estimated future amortization expense related to intangible assets, excluding indefinite-lived intangible assets, at June 30, 2020 is as follows (in thousands): Years Ending December 31, Amount 2020 (Remaining six months) $ 1,984 2021 3,966 2022 3,966 2023 3,961 2024 3,870 2025 3,845 Thereafter 25,373 Total expected future amortization $ 46,965

Significant Agreements and Cont

Significant Agreements and Contracts	6 Months Ended
	Jun. 30, 2020
Significant Agreements And Contracts [Abstract]
Significant Agreements and Contracts	6. Significant Agreements and Contracts 2019 Acquisitions Acquisition of Semnur Pharmaceuticals, Inc. In March 2019, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Semnur Pharmaceuticals, Inc. (“Semnur”) and Scilex Holding, whereby Semnur became a wholly-owned subsidiary of Scilex Holding (the “Merger”), and thereby Scilex Holding acquired Semnur’s SEMDEXA TM Pursuant to the Merger Agreement, Scilex Holding also agreed to pay the holders of Semnur’s capital stock and options up to $280.0 million in aggregate contingent cash consideration based on the achievement of certain milestones, which is comprised of a $40.0 million payment that will be due upon obtaining the first approval of a New Drug Application of a Semnur product by the U.S. Food and Drug Administration (the “FDA”) and additional payments that will be due upon the achievement of certain amounts of net sales of Semnur products as follows: (a) a $20.0 million payment upon the achievement of $100.0 million in cumulative net sales of a Semnur product, (b) a $20.0 million payment upon the achievement of $250.0 million in cumulative net sales of a Semnur product, (c) a $50.0 million payment upon the achievement of $500.0 million in cumulative net sales of a Semnur product, and (d) a $150.0 million payment upon the achievement of $750.0 million in cumulative net sales of a Semnur product. In March 2019, the Company also entered into an Exchange and Registration Rights Agreement (the “Exchange Agreement”) with the stockholders and stock option holders of Semnur. Pursuant to the Exchange Agreement, if within 18 months of the closing of the Merger, 100% of the outstanding equity of Scilex Holding has not been acquired by a third party or Scilex Holding has not entered into a definitive agreement with respect to, or otherwise consummated, a firmly underwritten offering of Scilex Holding’s capital stock that meets certain requirements and includes the Stock Consideration, then the holders of the Stock Consideration may collectively elect to exchange, during the 60-day period commencing the date that is the 18 month anniversary of the closing of the Merger, the Stock Consideration for shares of the Company’s common stock with a value of $55.0 million (the “Semnur Share Exchange”) based on a price per share of the Company’s common stock equal to the greater of (a) the 30-day trailing volume weighted average price of one share of the Company’s common stock as reported on the Nasdaq Capital Market as of the consummation of the Semnur Share Exchange and (b) $5.55 (subject to adjustment for any stock dividend, stock split, stock combination, reclassification or similar transaction). The transaction was accounted for as an asset acquisition since substantially all the value of the gross assets was concentrated in a single asset. No contingent consideration was recorded as of December 31, 2019 or June 30, 2020 since the related regulatory approval milestones are not deemed probable until they actually occur. Approximately $75.3 million was expensed as acquired in-process research and development during the three months ended March 31, 2019. License Agreement with NantCell In April 2015, the Company and NantCell entered into a license agreement. Under the terms of the agreement, the Company granted an exclusive license to NantCell covering patent rights, know-how and materials related to certain antibodies, ADCs and two CAR-TNK products. NantCell agreed to pay a royalty not to exceed five percent (5%) to the Company on any net sales of products (as defined) from the assets licensed by the Company to NantCell. In addition to the future royalties payable under this agreement, NantCell paid an upfront payment of $10.0 million to the Company and issued 10 million shares of NantCell common stock to the Company valued at $100.0 million based on a recent equity sale of NantCell common stock to a third party. As of June 30, 2020, the Company had not yet provided all of the items noted in the agreement, including research services for and on behalf of NantCell, and therefore has recorded the entire upfront payment and value of the equity interest received as deferred revenue. Specifically, only a portion of the materials associated with the licensed assets have been delivered while the majority of the licensed assets remain undelivered and the related research activities are still to be performed. The Company will recognize the upfront payment and the value of the equity interest received over the period beginning with the commencement of the research services. The Company’s ownership interest in NantCell does not provide the Company with control or the ability to exercise significant influence; therefore the $100.0 million investment is carried at cost, less impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of NantCell.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	7. Debt 2018 Purchase Agreements and Indenture for Scilex On September 7, 2018, Scilex Pharmaceuticals Inc. (“Scilex Pharma”) entered into Purchase Agreements (the “2018 Purchase Agreements”) with certain investors (collectively, the “Scilex Note Purchasers”) and the Company. Pursuant to the 2018 Purchase Agreements, on September 7, 2018, Scilex Pharma issued and sold to the Scilex Note Purchasers senior secured notes due 2026 in an aggregate principal amount of $224.0 million (the “Scilex Notes”) for an aggregate purchase price of $140.0 million (the “Scilex Notes Offering”). In connection with the Scilex Notes Offering, Scilex Pharma also entered into an Indenture (the “Indenture”) governing the Scilex Notes with U.S. Bank National Association, a national banking association, as trustee and collateral agent, and the Company. Pursuant to the Indenture, the Company agreed to irrevocably and unconditionally guarantee, on a senior unsecured basis, the punctual performance and payment when due of all obligations of Scilex Pharma under the Indenture. To estimate the fair value of the Scilex Notes, the Company uses the discounted cash flow method under the income approach, which involves significant Level 3 inputs and assumptions, combined with a Monte Carlo simulation as appropriate. The value of the debt instrument is based on the present value of future principal payments and the discounted rate of return reflective of the Company’s credit risk. Borrowings of the Scilex Notes consisted of the following (in thousands): June 30, 2020 December 31, 2019 Principal $ 219,153 $ 221,666 Unamortized debt discount (62,465 ) (67,839 ) Unamortized debt issuance costs (4,015 ) (4,360 ) Carrying value $ 152,673 $ 149,467 Estimated fair value $ 153,500 $ 150,800 Future minimum payments under the Scilex Notes, based on a percentage of projected net sales of ZTlido Year Ending December 31, 2020 (Remaining six months) $ 2,070 2021 9,910 2022 16,094 2023 20,636 2024 22,247 2025 23,287 Thereafter 124,909 Total future minimum payments 219,153 Unamortized debt discount (62,465 ) Unamortized capitalized debt issuance costs (4,015 ) Total Scilex Notes 152,673 Current portion (5,646 ) Long-term portion of Scilex Notes $ 147,027 The Company made principal payments of $2.5 million and $0.9 million during the six months ended June 30, 2020 and 2019, respectively, which were based on a percentage of net sales of ZTlido. The imputed effective interest rate at June 30, 2020 was 7.5%. The amount of debt discount and debt issuance costs included in interest expense for the three months ended June 30, 2020 and 2019 was approximately $2.9 million and $4.2 million, respectively. During the six months ended June 30, 2020 and 2019, the amount of debt discount and debt issuance costs included in interest expense was $5.7 million and $8.9 million, respectively. The Company identified a number of embedded derivatives that require bifurcation from the Scilex Notes and that were separately accounted for in the consolidated financial statements as derivative liabilities. Certain of these embedded features include default interest provisions, contingent rate increases, contingent put options, optional and automatic acceleration provisions and tax indemnification obligations. The fair value of the derivative liabilities associated with the Scilex Notes was estimated using the discounted cash flow method under the income approach combined with a Monte Carlo simulation model. This involves significant Level 3 inputs and assumptions, including a risk adjusted net sales forecast, an effective debt yield, estimated marketing approval probabilities for SP-103 and an estimated probability of an initial public offering by Scilex Holding that satisfies certain valuation thresholds and timing considerations (See Note 3 ). The Company re-evaluates this assessment each reporting period. The 2018 Purchase Agreements and Indenture, as amended, provide that, upon the occurrence of an event of default, the lenders thereunder may, by written notice to the Company, declare all of the outstanding principal and interest under the Indenture immediately due and payable. For purposes of the Indenture, an event of default includes, among other things, (i) a failure to pay any amounts when due under the Indenture, (ii) a breach or other failure to comply with the covenants (including financial, notice and reporting covenants) under the Indenture, (iii) a failure to make any payment on, or other event triggering an acceleration under, other material indebtedness of the Company, and (iv) the occurrence of certain insolvency or bankruptcy events (both voluntary and involuntary) involving the Company or certain of its subsidiaries. The Company is subject to certain customary default clauses under the Indenture and is in compliance with event of default clauses under the Indenture. 2018 Oaktree Term Loan Agreement In November 2018, the Company entered into a Term Loan Agreement (the “Loan Agreement”) with certain funds and accounts managed by Oaktree Capital Management, L.P. (collectively, the “Lenders”) and Oaktree Fund Administration, LLC, as administrative and collateral agent, for an initial term loan of $100.0 million (the “Initial Loan”). In May 2019, the Company entered into an amendment to the Loan Agreement, under which terms the Lenders agreed to make available to the Company $20.0 million (collectively, with the Initial Loan, the “Term Loans”). During the six months ended June 30, 2020, the Company repaid $120.0 million of outstanding principal under the Term Loans plus approximately $9.4 million of related prepayment premium, exit fees and accrued interest thereon. In connection with the repayment of outstanding principal, the Company recorded a loss on debt settlement of $51.9 million. Interest expense recognized for stated interest on the Term Loans totaled $0.9 million and $2.7 million for the three months ended June 30, 2020 and 2019, respectively. For the six months ended June 30, 2020 and 2019 the interest expense for stated interest on the Term Loans totaled $3.0 million and $5.0 million, respectively. The amount of debt discount and debt issuance costs included in interest expense on the Term Loans for the three months ended June 30, 2020 and 2019 was approximately $0.7 million and $1.3 million, respectively. During the six months ended June 30, 2020 and 2019, the amount of debt discount and debt issuance costs included in interest expense was $2.2 million and $2.4 million, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	8. Stockholders` Equity Aspire Transaction In February 2020, the Company entered into a Common Stock Purchase Agreement (the “Aspire Purchase Agreement”) with Aspire Capital Fund, LLC, (“Aspire Capital”), pursuant to which Aspire Capital was committed to purchase up to an aggregate of $75.0 million of shares of the Company’s common stock over a 24-month term. Upon execution of the Aspire Purchase Agreement, the Company issued to Aspire Capital 897,308 shares of the Company’s common stock as a commitment fee. The Company used and is using proceeds it received under the Aspire Purchase Agreement for working capital and general corporate purposes and for the repayment of the Term Loans. During the six months ended June 30, 2020, the Company issued and sold an aggregate of 33,825,010 shares of the Company’s common stock to Aspire Capital for aggregate net proceeds to the Company of $75.0 million. On April 24, 2020, the Aspire Purchase Agreement terminated effective immediately in accordance with its terms as the Company issued and sold, as of such date, the full $75.0 million of shares available for issuance thereunder. Equity Distribution Agreement On April 27, 2020, the Company voluntarily terminated the Equity Distribution Agreement, dated October 1, 2019 (the “Distribution Agreement”), that the Company entered into with JMP Securities LLC (“JMP Sales Agent”), effective immediately. Sales Agreement On April 27, 2020, the Company entered into a Sales Agreement (the “Sales Agreement”) with A.G.P./Alliance Global Partners, as sales agent (the “Sales Agent”), pursuant to which the Company may offer and sell through or to the Sales Agent (the “Offering”) up to $250.0 million in shares of its common stock (the “Shares”). Any Shares offered and sold in the Offering will be issued pursuant to the Company’s universal shelf registration statement on Form S-3 (the “Shelf Registration Statement”) and the prospectus supplement relating to the Offering filed with the Securities and Exchange Commission (the “SEC”) on April 27, 2020. Common Stock Purchase Agreement On April 27, 2020, the Company entered into a Common Stock Purchase Agreement (the “Purchase Agreement”) with Arnaki Ltd. (the “Purchaser”), pursuant to which the Purchaser is committed to purchase up to an aggregate of $250.0 million of shares of the Company’s common stock over the 36-month term of the Purchase Agreement on the terms set forth therein. Any Shares offered and sold to the Purchaser will be issued pursuant to the Shelf Registration Statement and the prospectus supplement relating to offering of shares pursuant to the Purchase Agreement filed with the SEC on April 27, 2020. On any business day over the term of the Purchase Agreement (each, a “Purchase Date”), the Company has the right, in its sole discretion, to present the Purchaser with a purchase notice directing the Purchaser to purchase up to 650,000 shares of common stock per business day. The Company and the Purchaser also may mutually agree to increase the number of shares that may be sold to as much as an additional 3,600,000 shares per Purchase Date. The Company also has the right, in its sole discretion, to grant the Purchaser an option to purchase additional shares of common stock, subject to a maximum number of shares determined by the Company on each Purchase Date. The aggregate purchase price paid by the Purchaser shall not exceed $5.0 million per Purchase Date, unless mutually agreed upon by the Company and the Purchaser. The purchase price of the common stock pursuant to the Purchase Agreement will generally be equal to 97.5% of the daily volume weighted average purchase price of the common stock on the Purchase Date. During the six months ended June 30, 2020, the Company sold an aggregate of 923,077 shares of its common stock pursuant to the Purchase Agreement for aggregate net proceeds of $4.3 million. Subsequent to June 30, 2020 and through July 31, 2020, the Company sold an aggregate of 500,000 shares of its common stock pursuant to the Purchase Agreement for aggregate net proceeds to the Company of approximately $3.7 million.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Based Compensation	9. Stock Based Compensation 2019 Stock Incentive Plan A summary of stock option activity under the Sorrento Therapeutics, Inc. 2009 Stock Incentive Plan and the Sorrento Therapeutics, Inc. 2019 Stock Incentive Plan for the six months ended June 30, 2020 is as follows (in thousands, except price data): Options Outstanding Weighted- Average Exercise Price Aggregate Intrinsic Value Outstanding at December 31, 2019 14,586,661 $ 4.36 $ 5,136 Options Granted 5,359,500 $ 4.69 Options Canceled (2,163,493 ) $ 4.23 Options Exercised (925,945 ) $ 4.17 Outstanding at June 30, 2020 16,856,723 $ 4.50 $ 34,748 The estimated fair value of each stock option grant was determined on the grant date using the Black-Scholes valuation model with the following weighted-average assumptions. Six Months Ended June 30, 2020 2019 Weighted-average grant date fair value $ 3.69 $ 3.05 Dividend yield — % — % Volatility 103 % 100 % Risk-free interest rate 0.46 % 1.87 % Expected life of options (years) 5.7 6.1 Total stock-based compensation expense under the Sorrento Therapeutics, Inc. 2019 Stock Incentive Plan was recorded as operating expense of $2.1 million for each of the three months ended June 30, 2020 and 2019, and $4.1 million and $3.7 million for the six months ended June 30, 2020 and 2019, respectively. The total unrecognized compensation cost related to unvested stock option grants as of June 30, 2020 was $34.0 million and the weighted average period over which these grants are expected to vest is 3.1 years. Scilex Holding Company Total stock-based compensation expense recorded as operating expense was $1.3 million and $0.8 million for the three months ended June 30, 2020 and 2019, respectively, and $2.9 million and $0.9 million for the six months ended June 30, 2020 and 2019, respectively. The total unrecognized compensation cost related to unvested stock option grants as of June 30, 2020 was $12.9 million and the weighted average period over which these grants are expected to vest is 2.7 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Litigation In the normal course of business, the Company may be named as a defendant in one or more lawsuits. Other than as set forth below, the Company is not a party to any outstanding material litigation and management is currently not aware of any legal proceedings that, individually or in the aggregate, are deemed to be material to the Company’s financial condition or results of operations. On April 3, 2019, the Company filed two legal actions against, among others, Patrick Soon-Shiong and entities controlled by him, asserting claims for, among other things, fraud and breach of contract, arising out of Dr. Soon-Shiong’s purchase of the drug Cynviloq™ from the Company in May 2015. The actions allege that Dr. Soon-Shiong and the other defendants, among other things, acquired the drug Cynviloq™ for the purpose of halting its progression to the market. Specifically, the Company has filed: • An arbitration demand with the American Arbitration Association in Los Angeles, California against NantPharma, LLC and Chief Executive Officer Patrick Soon-Shiong, related to alleged fraud and breaches of the Stock Sale and Purchase Agreement, dated May 14, 2015, entered into between NantPharma, LLC and the Company, filed as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q filed with SEC on August 7, 2015. On May 24, 2019, NantCell, Inc., Dr. Soon-Shiong and Immunotherapy NANTibody LLC (“NANTibody”) General Counsel Charles Kim filed a motion in the Los Angeles Superior Court to stay or dismiss the Company’s arbitration demand. On October 9, 2019, the Los Angeles Superior Court denied the motion to stay or dismiss the arbitration demand, and the arbitration is ongoing against NantPharma. On March 5, 2020, the Company filed a legal action against Dr. Soon-Shiong in Los Angeles Superior Court, asserting claims for fraudulent inducement and common law fraud, arising out of Dr. Soon-Shiong’s purchase of the drug Cynviloq™ from the Company in May 2015. The action alleges that, among other things, Dr. Soon-Shiong acquired the drug Cynviloq for the purpose of halting its progression to the market. In connection with filing this civil action in the Los Angeles Superior Court, where the Company will have the right to a jury trial against Dr. Soon-Shiong, the Company has dismissed Dr. Soon-Shiong from the related, ongoing arbitration against NantPharma, LLC; and • An action in the Los Angeles Superior Court derivatively on behalf of NANTibody against NantCell, Inc., NANTibody Board Member and NantCell, Inc. Chief Executive Officer Patrick Soon-Shiong, and NANTibody officer Charles Kim, related to several breaches of the June 11, 2015 Limited Liability Company Agreement for NANTibody entered into between the Company and NantCell, Inc. The suit also alleges breaches of fiduciary duties and seeks, inter alia, a declaration that the Assignment Agreement entered into on July 2, 2017, between NantPharma, LLC and NANTibody is void and an equitable unwinding of the Assignment Agreement. The suit calls for the restoration of $90.05 million to the NANTibody capital account, thereby restoring the Company’s equity method investment in NANTibody to its invested amount as of June 30, 2017 of $40.0 million. On May 24, 2019, NantCell, Inc. and Dr. Soon-Shiong filed a cross-complaint against the Company and Dr. Ji, seeking unspecified damages, as well as additional punitive damages and specific performance, related to alleged fraud, alleged breaches of the Exclusive License Agreement for certain antibodies (dated June 11, 2015 and entered into between NANTibody, LLC and the Company), and tortious interference with contract. On May 24, 2019, NANTibody and NantPharma, LLC filed a new complaint in the action against the Company and Dr. Ji, seeking unspecified damages, as well as additional punitive damages and specific performance, related to alleged fraud, alleged breaches of the Stock Sale and Purchase Agreement, alleged breaches of the Exclusive License Agreement for certain antibodies (dated April 21, 2015 and entered into between NantCell, Inc. and the Company), and tortious interference with contract. On July 8, 2019, the Company and Dr. Ji filed motions to compel the cross-complaint and new action to arbitration. On October 9, 2019, the Los Angeles Superior Court granted the motions to compel to arbitration all of the claims brought by NANTibody, NantCell, Inc. and NantPharma, LLC, and denied the motions to compel as to the claims brought by Dr. Soon-Shiong. Subsequently, NANTibody, NantCell, Inc., and NantPharma, LLC have re-filed their claims in arbitration with the American Arbitration Association. On May 4, 2020, the Company filed counterclaims against NANTibody and NantPharma related to breaches of the April 21, 2015 and June 11, 2015 Exclusive License Agreements. With the counterclaims, the Company is seeking money damages in an amount yet to be determined. The claims against Dr. Soon-Shiong have been stayed pending resolution of the claims filed in arbitration. The original derivative action is no longer stayed, and the parties are currently engaged in discovery in the suit. On May 26, 2020, Wasa Medical Holdings filed a putative federal securities class action in the U.S. District Court for the Southern District of California, Case No. 3:20-cv-00966-AJB-DEB, against the Company, its President, Chief Executive Officer and Chairman of the Board of Directors, Henry Ji, Ph.D., and its SVP of Regulatory Affairs, Mark R. Brunswick, Ph.D. The action alleges that the Company, Dr. Ji and Dr. Brunswick made materially false and/or misleading statements to the investing public by publicly issuing false and/or misleading statements regarding STI-1499 and its ability to inhibit the SARS-CoV-2 virus infection and that such statements violated Section 10(b) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. The suit seeks to recover damages caused by the alleged violations of federal securities laws, along with the plaintiffs’ reasonable costs and expenses incurred in the lawsuit, including counsel fees and expert fees. On June 11, 2020, Jeannette Calvo filed a second putative federal securities class action in the U.S. District Court for the Southern District of California, Case No. 3:20-cv-01066-JAH-WVG, against the same defendants alleging the same claims and seeking the same relief. It is anticipated that these cases will be consolidated as part of the lead plaintiff and counsel appointment process under the Private Securities Litigation Reform Act. The Company intends to defend these matters vigorously. Operating Leases As of June 30, 2020, the Company’s leases have remaining lease terms of approximately 0.4 to 9.4 years Supplemental quantitative information related to leases includes the following (in thousands, except for years and percentages): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Operating cash flows used for operating leases $ 2,487 $ 1,867 $ 4,896 $ 3,399 ROU assets obtained in exchange for new and amended operating lease liabilities $ — $ 4,447 $ 795 $ 4,747 Operating lease expense $ 2,533 $ 2,700 $ 5,072 $ 5,000 Weighted average remaining lease term in years 8.9 9.9 8.9 9.9 Weighted average discount rate 12.2 % 12.2 % 12.2 % 12.2 % Maturities of lease liabilities were as follows (in thousands): Years ending December 31, Operating leases 2020 (Remaining six months) $ 4,993 2021 9,710 2022 9,764 2023 9,993 2024 10,117 2025 9,579 Thereafter 43,174 Total lease payments 97,330 Less imputed interest (42,670 ) Total lease liabilities as of June 30, 2020 $ 54,660

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company maintains deferred tax assets that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. These deferred tax assets include net operating loss carryforwards, research credits and temporary differences. In assessing the Company’s ability to realize deferred tax assets, management considers, on a periodic basis, whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. As such, management has determined that it is appropriate to maintain a valuation allowance against the Company’s U.S. federal and state deferred tax assets, with the exception of an amount equal to schedulable deferred tax liabilities. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits net operating loss carryforwards generated in taxable years beginning after December 31, 2017, to offset 100% of taxable income for taxable years beginning before January 1, 2021, and 80% of taxable income in taxable years beginning after December 31, 2020. In addition, the CARES Act makes the Alternative Minimum Tax Credit 100% refundable for taxable years beginning in 2018 and 2019. The Company has recorded an income tax benefit of $0.1 million related to this legislation. The Company’s income tax benefit of $2.2 The difference between the expected statutory federal tax rate of 21% and the 1.5% effective tax rate for the six months ended June 30, 2020 was primarily attributable to the valuation allowance against most of the Company’s deferred tax assets. For the six months ended June 30, 2020, when compared to the same period in 2019, the increase in the tax benefit and change in effective income tax rate was primarily attributable to the impact of the Company’s valuation allowance. The Company is subject to taxation in the U.S. and various state and foreign jurisdictions. The Company’s tax years for 2007 and later are subject to examination by the U.S. and state tax authorities due to the existence of the net operating loss and research credit carryforwards.

Related Party Agreements

Related Party Agreements	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Agreements	12. Related Party Agreements As of June 30, 2020, approximately 14.7% of the outstanding capital stock of Scilex Holding represents a noncontrolling interest and continues to be held by ITOCHU CHEMICAL FRONTIER Corporation. Scilex Pharma has entered into a product development agreement with ITOCHU CHEMICAL FRONTIER Corporation, which serves as the sole manufacturer and supplier to Scilex Pharma for the ZTlido

Loss Per Share

Loss Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Loss Per Share	13. Loss Per Share For the three and six months ended June 30, 2020 and 2019, basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share of common stock is calculated to give effect to all dilutive securities, using the treasury stock method and the if-converted method for potentially dilutive shares of common stock issuable upon the Semnur Share Exchange. The following table sets forth the reconciliation of basic and diluted loss per share for the three and six months ended June 30, 2020 and 2019 (in thousands except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Numerator Net loss attributable to Sorrento $ (77,740 ) $ (56,762 ) $ (142,935 ) $ (164,833 ) Net loss attributable to Semnur holders of Scilex Holding — (6,093 ) — (28,824 ) Net loss used for diluted earnings per share $ (77,740 ) $ (62,855 ) $ (142,935 ) $ (193,657 ) Denominator for Basic Loss Per Share 216,956 122,549 199,782 122,415 Potentially dilutive shares of Sorrento common stock issuable upon Semnur Share Exchange — 9,910 — 5,717 Denominator for Diluted Loss Per Share 216,956 132,459 199,782 128,132 Basic Loss Per Share $ (0.36 ) $ (0.46 ) $ (0.72 ) $ (1.35 ) Diluted Loss Per Share $ (0.36 ) $ (0.47 ) $ (0.72 ) $ (1.51 ) The potentially dilutive stock options that would have been excluded because the effect would have been anti-dilutive for the six months ended June 30, 2020 and 2019 were 11.5 million and 9.7 million, respectively. The potentially dilutive warrants that would have been excluded because the effect would have been anti-dilutive for the six months ended June 30, 2020 and 2019 were 41.1 million and 10.7 million, respectively. For each of the three and six months ended June 30, 2020, the Company excluded approximately 9.8 million potentially dilutive shares related to the Semnur Exchange because the effect would have been anti-dilutive.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	14. Segment Information The Company operates in two operating and reportable segments, Sorrento Therapeutics and Scilex. With the exception of unrestricted cash balances, the Company’s Chief Operating Decision Maker does not regularly review asset information by reportable segment and, therefore, it does not report asset information by reportable segment. The majority of long-lived assets for both segments are located in the United States. The following table presents information about the Company’s reportable segments for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, 2020 2019 (in thousands) Sorrento Therapeutics Scilex Total Sorrento Therapeutics Scilex Total External revenues $ 3,258 $ 5,749 $ 9,007 $ 1,817 $ 4,660 $ 6,477 Operating expenses 41,443 15,292 56,735 36,299 20,539 56,838 Operating loss (38,185 ) (9,543 ) (47,728 ) (34,482 ) (15,879 ) (50,361 ) Unrestricted cash 17,251 7,137 24,388 31,986 29,399 61,385 Six Months Ended June 30, 2020 2019 (in thousands) Sorrento Therapeutics Scilex Total Sorrento Therapeutics Scilex Total External revenues $ 5,767 $ 10,961 $ 16,728 $ 5,101 $ 7,519 $ 12,620 Operating expenses 74,691 32,928 107,619 71,431 114,720 $ 186,151 Operating loss (68,924 ) (21,967 ) (90,891 ) (66,330 ) (107,201 ) (173,531 ) Unrestricted cash 17,251 7,137 24,388 31,986 29,399 61,385

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events License Agreement with ACEA Therapeutics, Inc. In July 2020, the Company entered into a License Agreement (the “License Agreement”) with ACEA Therapeutics, Inc. (“ACEA”). Pursuant to the License Agreement, among other things, ACEA granted the Company an exclusive license and right under certain patents and certain know-how and other intellectual property (“Licensed Know-How”) to fully utilize, exploit and commercialize (i) the Licensed Know-How, (ii) Abivertinib (AC0010), a selective, orally available irreversible small molecule tyrosine kinase inhibitor to Bruton’s tyrosine kinase and mutant epidermal growth factor receptor, including any improvements thereto, and (iii) (a) any composition, product, or component part thereof, and (b) any and all services offered in connection or associated therewith, in all fields of use, including the diagnosis, treatment and/or cure of any human disease or disorder worldwide, other than the People’s Republic of China. As consideration for the license under the License Agreement, the Company has agreed to pay ACEA an up-front licensee fee of $15.0 million, of which $5.0 million is payable within ten business days of the date of the License Agreement and $10.0 million of which is payable within thirty calendar days of the date of the License Agreement. The Company also agreed to pay ACEA (i) certain milestone payments upon the receipt of certain regulatory approvals, and (ii) certain milestone payments upon the Company’s or its affiliates’ achievement of certain commercial sales milestones. The upfront payments and the milestone payments may be comprised of cash or any combination of cash and common stock of the Company, in any case as determined by the Company so long as no more than 50% of any upfront payment or milestone payment is comprised of common stock of the Company. The Company will also pay certain royalties in the mid-single digit to low-double digit percentages of annual net sales by the Company. License Agreement with The Trustees of Columbia University in the City of New York In July 2020, the Company entered into an Exclusive License Agreement (the “Columbia License Agreement”) with The Trustees of Columbia University in the City of New York (“Columbia”). Pursuant to the Columbia License Agreement, among other things, Columbia granted the Company (i) an exclusive license under certain patents, other intellectual property and materials to discover, develop, commercialize and exploit certain products and services (“Products”) in all diagnostic applications of high-performance loop-mediated isothermal amplification (“HP-LAMP”) for coronaviruses and influenza viruses (the “Field”) worldwide, subject to certain reservations and limitations. Pursuant to the Columbia License Agreement, Columbia also granted to the Company an option, exercisable for twelve months from the effective date of the Columbia License Agreement and subject to the satisfaction of certain conditions, to acquire an exclusive worldwide license to such patents, other intellectual property and materials for additional diagnostic application(s) of HP-LAMP (other than for coronaviruses and influenza viruses), subject to certain reservations and limitations. As consideration for the license under the Columbia License Agreement, the Company agreed to pay Columbia (i) an up-front license fee of $5.0 million within ten business days of the execution of the Columbia License Agreement, (ii) an earned royalty on the net sales of Products in the Field worldwide, and (iii) minimum annual royalty payments of $1.0 million no later than ten days following the first bona fide commercial sale of a Product to a third-party customer and on an annual basis thereafter. In addition, the Company agreed to pay Columbia a percentage of certain non-royalty sublicense revenue and other payments received by the Company from its sublicensees as consideration for the grant of any sublicense, option or similar rights. Pursuant to the Columbia License Agreement, the Company also agreed to pay certain one-time, development milestone payments to Columbia upon the receipt of certain regulatory approvals or the first commercial sale of certain Products for diagnostic applications within the Field.

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company’s subsidiaries. For consolidated entities where the Company owns or is exposed to less than 100% of the economics, the Company records net income (loss) attributable to noncontrolling interests in its consolidated statements of operations equal to the percentage of the economic or ownership interest retained in such entities by the respective noncontrolling parties. All intercompany balances and transactions have been eliminated in consolidation. These consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Operating results for interim periods are not expected to be indicative of operating results for the Company’s 2020 fiscal year, or any subsequent period. The unaudited interim financial statements included herein reflect all normal and recurring adjustments that are necessary for a fair presentation of the results for the interim periods presented.
Use of Estimates	Use of Estimates To prepare consolidated financial statements in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”), management must make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Significant Accounting Policies	Significant Accounting Policies During the six months ended June 30, 2020, there have been no changes to the Company`s significant accounting policies as described in its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 outside of new accounting pronouncements as described below.
Revenue Recognition	Revenue Recognition The following table shows revenue disaggregated by product and service type for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Scilex Pharmaceuticals Inc. product sales $ 5,757 $ 4,660 $ 10,969 $ 7,519 Other product sales 37 39 73 539 Net product revenue $ 5,794 $ 4,699 $ 11,042 $ 8,058 Concortis Biosystems Corporation $ 1,507 $ 1,205 $ 2,829 $ 3,015 Bioserv Corporation 1,586 453 2,617 1,307 Other revenue 120 120 240 240 Service revenue $ 3,213 $ 1,778 $ 5,686 $ 4,562
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, In December 2019, the FASB issued ASU No. 2019-12, Income Taxes Topic 740): Simplifying the Accounting for Income Taxes. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment (Topic 350).
Liquidity and Going Concern	Liquidity and Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has negative working capital and recurring losses from operations, recurring negative cash flows from operations and substantial cumulative net losses to date and anticipates that it will continue to do so for the foreseeable future as it continues to identify and invest in advancing product candidates, as well as expanding corporate infrastructure. The Company has plans in place to obtain sufficient additional fundraising to fulfill its operating, debt servicing and capital requirements for the next 12 months. The Company’s plans include continuing to fund its operating losses and capital funding needs through public or private equity or debt financings, strategic collaborations, licensing arrangements, asset sales, government grants or other arrangements. Although management believes such plans, if executed, should provide the Company sufficient financing to meet its needs, successful completion of such plans is dependent on factors outside of the Company’s control. As such, management cannot conclude that such plans will be effectively implemented within one year after the date that the financial statements are issued. As a result, management has concluded that the aforementioned conditions, among others, raise substantial doubt about the Company’s ability to continue as a going concern for one year after the date the financial statements are issued. If the Company is unable to raise additional capital in sufficient amounts or on terms acceptable, the Company may have to significantly delay, scale back or discontinue the development or commercialization of one or more of its product candidates. The Company may also seek collaborators for one or more of its current or future product candidates at an earlier stage than otherwise would be desirable or on terms that are less favorable than might otherwise be available. Furthermore, the spread of COVID-19, which has caused a broad impact globally, may materially affect the Company economically. While the potential economic impact brought by, and the duration of, COVID-19 may be difficult to assess or predict, a widespread pandemic could result in significant disruption of global financial markets, reducing the Company’s ability to access capital, which could in the future negatively affect its liquidity. If the Company raises additional funds by issuing equity securities, substantial dilution to existing stockholders would result. If the Company raises additional funds by incurring debt financing, the terms of the debt may involve significant cash payment obligations as well as covenants and specific financial ratios that may restrict the Company’s ability to operate its business.

Description of Business and B_3

Description of Business and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Disaggregation of Revenue	The following table shows revenue disaggregated by product and service type for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Scilex Pharmaceuticals Inc. product sales $ 5,757 $ 4,660 $ 10,969 $ 7,519 Other product sales 37 39 73 539 Net product revenue $ 5,794 $ 4,699 $ 11,042 $ 8,058 Concortis Biosystems Corporation $ 1,507 $ 1,205 $ 2,829 $ 3,015 Bioserv Corporation 1,586 453 2,617 1,307 Other revenue 120 120 240 240 Service revenue $ 3,213 $ 1,778 $ 5,686 $ 4,562

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): Fair Value Measurements at June 30, 2020 Balance Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash and cash equivalents $ 24,388 $ 24,388 $ — $ — Restricted cash 45,000 45,000 — — Total assets $ 69,388 $ 69,388 $ — $ — Liabilities: Derivative liabilities - non-current $ 41,900 $ — $ — $ 41,900 Acquisition consideration payable 398 — — 398 Acquisition consideration payable - non-current 549 — — 549 Total liabilities $ 42,847 $ — $ — $ 42,847 Fair Value Measurements at December 31, 2019 Balance Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash and cash equivalents $ 22,521 $ 22,521 $ — $ — Restricted cash 58,248 58,248 — — Total assets $ 80,769 $ 80,769 $ — $ — Liabilities: Derivative liabilities $ 8,800 $ — $ — $ 8,800 Derivative liabilities - non-current 35,000 — — 35,000 Acquisition consideration payable 908 — — 908 Acquisition consideration payable - non-current 39 — — 39 Total liabilities $ 44,747 $ — $ — $ 44,747
Summary of Derivative Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)	The following table includes a summary of the derivative liabilities measured at fair value using significant unobservable inputs (Level 3) during the six months ended June 30, 2020: (in thousands) Fair Value Beginning Balance at December 31, 2019 $ 43,800 Additions 8,800 Re-measurement of Fair Value (10,700 ) Ending Balance at June 30, 2020 $ 41,900

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Company's Identifiable Intangible Assets	A summary of the Company’s identifiable intangible assets as of June 30, 2020 and December 31, 2019 is as follows (in thousands, except for years): June 30, 2020 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Intangibles, Net Customer relationships 6 $ 1,585 $ 1,413 $ 172 Acquired developed technology 19 3,410 1,148 2,262 Acquired in-process research and development — 14,360 — 14,360 Technology placed in service 15 21,940 2,560 19,380 Patent rights 15 32,720 8,012 24,708 Assembled workforce 5 605 163 442 Total intangible assets $ 74,620 $ 13,296 $ 61,324 December 31, 2019 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Intangibles, Net Customer relationships 6 $ 1,585 $ 1,401 $ 184 Acquired developed technology 19 3,410 1,060 2,350 Acquired in-process research and development — 14,360 — 14,360 Technology placed in service 15 21,940 1,828 20,112 Patent rights 15 32,720 6,922 25,798 Assembled workforce 5 605 101 504 Total intangible assets $ 74,620 $ 11,312 $ 63,308
Schedule of Estimated Future Amortization Expense Related to Intangible Assets	Aggregate amortization expense was $1.0 million for each of the three months ended June 30, 2020 and 2019. Aggregate amortization expense was $2.0 million for each of the six months ended June 30, 2020 and 2019. Estimated future amortization expense related to intangible assets, excluding indefinite-lived intangible assets, at June 30, 2020 is as follows (in thousands): Years Ending December 31, Amount 2020 (Remaining six months) $ 1,984 2021 3,966 2022 3,966 2023 3,961 2024 3,870 2025 3,845 Thereafter 25,373 Total expected future amortization $ 46,965

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-Term Debt and Unamortized Discount Balances	Borrowings of the Scilex Notes consisted of the following (in thousands): June 30, 2020 December 31, 2019 Principal $ 219,153 $ 221,666 Unamortized debt discount (62,465 ) (67,839 ) Unamortized debt issuance costs (4,015 ) (4,360 ) Carrying value $ 152,673 $ 149,467 Estimated fair value $ 153,500 $ 150,800
Future Minimum Payments under Amended and Restated Loan and Security Agreement	Future minimum payments under the Scilex Notes, based on a percentage of projected net sales of ZTlido Year Ending December 31, 2020 (Remaining six months) $ 2,070 2021 9,910 2022 16,094 2023 20,636 2024 22,247 2025 23,287 Thereafter 124,909 Total future minimum payments 219,153 Unamortized debt discount (62,465 ) Unamortized capitalized debt issuance costs (4,015 ) Total Scilex Notes 152,673 Current portion (5,646 ) Long-term portion of Scilex Notes $ 147,027

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity	A summary of stock option activity under the Sorrento Therapeutics, Inc. 2009 Stock Incentive Plan and the Sorrento Therapeutics, Inc. 2019 Stock Incentive Plan for the six months ended June 30, 2020 is as follows (in thousands, except price data): Options Outstanding Weighted- Average Exercise Price Aggregate Intrinsic Value Outstanding at December 31, 2019 14,586,661 $ 4.36 $ 5,136 Options Granted 5,359,500 $ 4.69 Options Canceled (2,163,493 ) $ 4.23 Options Exercised (925,945 ) $ 4.17 Outstanding at June 30, 2020 16,856,723 $ 4.50 $ 34,748
Summary of Estimated Fair Value of Stock Option Grant Determined on Grant Date Using black-Scholes Valuation Model	The estimated fair value of each stock option grant was determined on the grant date using the Black-Scholes valuation model with the following weighted-average assumptions. Six Months Ended June 30, 2020 2019 Weighted-average grant date fair value $ 3.69 $ 3.05 Dividend yield — % — % Volatility 103 % 100 % Risk-free interest rate 0.46 % 1.87 % Expected life of options (years) 5.7 6.1

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Supplemental Quantitative Information Related to Leases	Supplemental quantitative information related to leases includes the following (in thousands, except for years and percentages): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Operating cash flows used for operating leases $ 2,487 $ 1,867 $ 4,896 $ 3,399 ROU assets obtained in exchange for new and amended operating lease liabilities $ — $ 4,447 $ 795 $ 4,747 Operating lease expense $ 2,533 $ 2,700 $ 5,072 $ 5,000 Weighted average remaining lease term in years 8.9 9.9 8.9 9.9 Weighted average discount rate 12.2 % 12.2 % 12.2 % 12.2 %
Schedule of Operating Lease Liability Maturities	Maturities of lease liabilities were as follows (in thousands): Years ending December 31, Operating leases 2020 (Remaining six months) $ 4,993 2021 9,710 2022 9,764 2023 9,993 2024 10,117 2025 9,579 Thereafter 43,174 Total lease payments 97,330 Less imputed interest (42,670 ) Total lease liabilities as of June 30, 2020 $ 54,660

Loss Per Share (Tables)

Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic and Diluted Loss Per Share	The following table sets forth the reconciliation of basic and diluted loss per share for the three and six months ended June 30, 2020 and 2019 (in thousands except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Numerator Net loss attributable to Sorrento $ (77,740 ) $ (56,762 ) $ (142,935 ) $ (164,833 ) Net loss attributable to Semnur holders of Scilex Holding — (6,093 ) — (28,824 ) Net loss used for diluted earnings per share $ (77,740 ) $ (62,855 ) $ (142,935 ) $ (193,657 ) Denominator for Basic Loss Per Share 216,956 122,549 199,782 122,415 Potentially dilutive shares of Sorrento common stock issuable upon Semnur Share Exchange — 9,910 — 5,717 Denominator for Diluted Loss Per Share 216,956 132,459 199,782 128,132 Basic Loss Per Share $ (0.36 ) $ (0.46 ) $ (0.72 ) $ (1.35 ) Diluted Loss Per Share $ (0.36 ) $ (0.47 ) $ (0.72 ) $ (1.51 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Summary of Information by Reportable Segments	The following table presents information about the Company’s reportable segments for the three and six months ended June 30, 2020 and 2019 (in thousands): Three Months Ended June 30, 2020 2019 (in thousands) Sorrento Therapeutics Scilex Total Sorrento Therapeutics Scilex Total External revenues $ 3,258 $ 5,749 $ 9,007 $ 1,817 $ 4,660 $ 6,477 Operating expenses 41,443 15,292 56,735 36,299 20,539 56,838 Operating loss (38,185 ) (9,543 ) (47,728 ) (34,482 ) (15,879 ) (50,361 ) Unrestricted cash 17,251 7,137 24,388 31,986 29,399 61,385 Six Months Ended June 30, 2020 2019 (in thousands) Sorrento Therapeutics Scilex Total Sorrento Therapeutics Scilex Total External revenues $ 5,767 $ 10,961 $ 16,728 $ 5,101 $ 7,519 $ 12,620 Operating expenses 74,691 32,928 107,619 71,431 114,720 $ 186,151 Operating loss (68,924 ) (21,967 ) (90,891 ) (66,330 ) (107,201 ) (173,531 ) Unrestricted cash 17,251 7,137 24,388 31,986 29,399 61,385

Description of Business and B_4

Description of Business and Basis of Presentation - Schedule of Revenues by Category (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Revenues	$ 9,007	$ 6,477	$ 16,728	$ 12,620
Scilex Pharmaceuticals Inc. product sales
Disaggregation Of Revenue [Line Items]
Revenues	5,757	4,660	10,969	7,519
Other product sales
Disaggregation Of Revenue [Line Items]
Revenues	37	39	73	539
Product
Disaggregation Of Revenue [Line Items]
Revenues	5,794	4,699	11,042	8,058
Concortis Biosystems Corporation
Disaggregation Of Revenue [Line Items]
Revenues	1,507	1,205	2,829	3,015
Bioserv Corporation
Disaggregation Of Revenue [Line Items]
Revenues	1,586	453	2,617	1,307
Other revenue
Disaggregation Of Revenue [Line Items]
Revenues	120	120	240	240
Service revenue
Disaggregation Of Revenue [Line Items]
Revenues	$ 3,213	$ 1,778	$ 5,686	$ 4,562

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Total assets	$ 69,388	$ 80,769
Liabilities:
Total liabilities	42,847	44,747
Derivative liabilities - Non-current
Liabilities:
Total liabilities	41,900	35,000
Acquisition consideration payable
Liabilities:
Total liabilities	398	908
Acquisition consideration payable, non-current
Liabilities:
Total liabilities	549	39
Derivative liabilities
Liabilities:
Total liabilities		8,800
Quoted Prices in Active Markets (Level 1)
Assets:
Total assets	69,388	80,769
Liabilities:
Total liabilities	0	0
Quoted Prices in Active Markets (Level 1) | Derivative liabilities - Non-current
Liabilities:
Total liabilities	0	0
Quoted Prices in Active Markets (Level 1) | Acquisition consideration payable
Liabilities:
Total liabilities	0	0
Quoted Prices in Active Markets (Level 1) | Acquisition consideration payable, non-current
Liabilities:
Total liabilities	0	0
Quoted Prices in Active Markets (Level 1) | Derivative liabilities
Liabilities:
Total liabilities		0
Significant Other Observable Inputs (Level 2)
Assets:
Total assets	0	0
Liabilities:
Total liabilities	0	0
Significant Other Observable Inputs (Level 2) | Derivative liabilities - Non-current
Liabilities:
Total liabilities	0	0
Significant Other Observable Inputs (Level 2) | Acquisition consideration payable
Liabilities:
Total liabilities	0	0
Significant Other Observable Inputs (Level 2) | Acquisition consideration payable, non-current
Liabilities:
Total liabilities	0	0
Significant Other Observable Inputs (Level 2) | Derivative liabilities
Liabilities:
Total liabilities		0
Significant Unobservable Inputs (Level 3)
Assets:
Total assets	0	0
Liabilities:
Total liabilities	42,847	44,747
Significant Unobservable Inputs (Level 3) | Derivative liabilities - Non-current
Liabilities:
Total liabilities	41,900	35,000
Significant Unobservable Inputs (Level 3) | Acquisition consideration payable
Liabilities:
Total liabilities	398	908
Significant Unobservable Inputs (Level 3) | Acquisition consideration payable, non-current
Liabilities:
Total liabilities	549	39
Significant Unobservable Inputs (Level 3) | Derivative liabilities
Liabilities:
Total liabilities		8,800
Cash and cash equivalents
Assets:
Total assets	24,388	22,521
Cash and cash equivalents | Quoted Prices in Active Markets (Level 1)
Assets:
Total assets	24,388	22,521
Cash and cash equivalents | Significant Other Observable Inputs (Level 2)
Assets:
Total assets	0	0
Cash and cash equivalents | Significant Unobservable Inputs (Level 3)
Assets:
Total assets	0	0
Restricted cash
Assets:
Total assets	45,000	58,248
Restricted cash | Quoted Prices in Active Markets (Level 1)
Assets:
Total assets	45,000	58,248
Restricted cash | Significant Other Observable Inputs (Level 2)
Assets:
Total assets	0	0
Restricted cash | Significant Unobservable Inputs (Level 3)
Assets:
Total assets	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2020
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Gain (loss) on derivative liabilities	$ 1,980	$ (10,591)	$ 6,900	$ (25,092)
Risk Adjusted Net Sales Forecast | Scilex Notes
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Derivative liability, measurement input	0.067		0.067
Effective Debt Yield
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Derivative liability, measurement input					0.21
Revenue Multiple | Minimum
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Derivative liability, measurement input	0.55		0.55
Revenue Multiple | Maximum
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Derivative liability, measurement input	1		1

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Derivative Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) (Details) - Derivative Liabilities $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 43,800
Additions	8,800
Re-measurement of Fair Value	(10,700)
Ending balance	$ 41,900

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Equity method investment, impairment losses	$ 3.8	$ 3.8

Investments - NANTibody - Addit

Investments - NANTibody - Additional Information (Details)	Jul. 03, 2018USD ($)	Jul. 02, 2017USD ($)	May 31, 2015USD ($)joint_venture	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2013USD ($)shares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2017USD ($)	Jul. 31, 2015USD ($)board_member	Apr. 30, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Number of joint venture to be funded by the Company per agreement | joint_venture			2
Equity method investments				$ 19,978,000					$ 19,978,000			$ 25,233,000
Equity balance of equity method investments				80,215,000	$ 51,226,000	$ 54,616,000	$ 118,113,000		80,215,000	$ 54,616,000		32,756,000	$ 207,500,000
Net loss on equity method investments				(84,993,000)		(71,845,000)			(154,173,000)	(218,374,000)
Current assets of equity method investment				55,001,000					55,001,000			67,588,000
Current liabilities of equity method investment				91,341,000					91,341,000			$ 115,206,000
NANTibody
Schedule of Equity Method Investments [Line Items]
Initial joint funding																$ 100,000,000
Equity method investment ownership percentage		40.00%														40.00%
Initial joint funding contributed															$ 40,000,000
Number of board members | board_member															2
Cash and cash equivalents of equity method investment		$ 100,000,000						$ 9,500,000						$ 99,600,000
Equity method investments	$ 3,700,000	40,000,000		$ 1,200,000		$ 3,200,000			$ 1,200,000	$ 3,200,000
Equity balance of equity method investments								10,000,000						$ 100,000,000
Decrease in cash and cash equivalent of equity method invests								$ 90,100,000
Loss on equity investments	$ 36,000,000
Net loss on equity method investments					(1,700,000)		$ (300,000)
Current assets of equity method investment					6,400,000
Current liabilities of equity method investment					3,200,000
Noncurrent assets of equity method investment					200,000
Noncurrent liabilities of equity method investment					$ 0
Nant Cell | NANTibody
Schedule of Equity Method Investments [Line Items]
Equity method investment ownership percentage																60.00%
Initial joint funding contributed																$ 60,000,000
Number of board members | board_member															3
NANTibody
Schedule of Equity Method Investments [Line Items]
Number of board members | board_member															5
NANTibody | Equity method investments
Schedule of Equity Method Investments [Line Items]
Cash consideration to equity holders		$ 90,100,000
IgDraSol Inc
Schedule of Equity Method Investments [Line Items]
Issuance of common stock upon acquisition (in shares) | shares											3,000,000
Cash consideration to equity holders											$ 380,000
Total purchase consideration											$ 29,100,000
Upfront fee received from selling equity interests in IgDraSol			$ 90,100,000
Restricted money to be funding two joint ventures			$ 60,000,000

Investments - NantStem - Additi

Investments - NantStem - Additional Information (Details) - USD ($)	Oct. 13, 2015	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2019	Jul. 31, 2015
Schedule of Equity Method Investments [Line Items]
Equity method investments		$ 19,978,000				$ 19,978,000			$ 25,233,000
Net loss on equity method investments		(84,993,000)		$ (71,845,000)		(154,173,000)	$ (218,374,000)
Current assets of equity method investment		55,001,000				55,001,000			67,588,000
Current liabilities of equity method investment		$ 91,341,000				$ 91,341,000			$ 115,206,000
Nant Cancer Stem LLC
Schedule of Equity Method Investments [Line Items]
Initial joint funding										$ 100,000,000
Initial joint funding contributed										$ 40,000,000
Equity method investment ownership percentage	20.00%									40.00%
Joint venture agreement second payment contribution	$ 20,000,000
Loss on equity investments								$ 500,000
Equity method investment ownership percentage		20.00%				20.00%
Equity method investments		$ 17,800,000		$ 17,800,000		$ 17,800,000	$ 17,800,000
Net loss on equity method investments			$ (400,000)		$ (100,000)
Current assets of equity method investment			76,400,000
Current liabilities of equity method investment			13,000
Noncurrent assets of equity method investment			3,800,000
Noncurrent liabilities of equity method investment			$ 0
Nant Cancer Stem LLC | NantBioScience, Inc.
Schedule of Equity Method Investments [Line Items]
Initial joint funding contributed										$ 60,000,000
Equity method investment ownership percentage										60.00%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 38,298,000		$ 38,298,000		$ 38,298,000
Indefinite-lived intangible assets	14,400,000		14,400,000
Intangible amortization	992,000	$ 992,000	1,984,000	$ 1,958,000
Sorrento Therapeutics
Goodwill And Intangible Assets [Line Items]
Goodwill	31,600,000		31,600,000
Scilex Pharmaceuticals, Inc
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 6,700,000		6,700,000
Impairment of goodwill			$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Company's Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 74,620	$ 74,620
Accumulated Amortization	13,296	11,312
Intangibles, Net	$ 61,324	$ 63,308
Customer relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	6 years	6 years
Gross Carrying Amount	$ 1,585	$ 1,585
Accumulated Amortization	1,413	1,401
Intangibles, Net	$ 172	$ 184
Acquired developed technology
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	19 years	19 years
Gross Carrying Amount	$ 3,410	$ 3,410
Accumulated Amortization	1,148	1,060
Intangibles, Net	$ 2,262	$ 2,350
Acquired in-process research and development
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	0 years	0 years
Gross Carrying Amount	$ 14,360	$ 14,360
Intangibles, Net	$ 14,360	$ 14,360
Technology placed in service
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	15 years	15 years
Gross Carrying Amount	$ 21,940	$ 21,940
Accumulated Amortization	2,560	1,828
Intangibles, Net	$ 19,380	$ 20,112
Patent rights
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	15 years	15 years
Gross Carrying Amount	$ 32,720	$ 32,720
Accumulated Amortization	8,012	6,922
Intangibles, Net	$ 24,708	$ 25,798
Assembled workforce
Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	5 years	5 years
Gross Carrying Amount	$ 605	$ 605
Accumulated Amortization	163	101
Intangibles, Net	$ 442	$ 504

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense Related to Intangible Assets (Details) $ in Thousands	Jun. 30, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2020 (Remaining six months)	$ 1,984
2021	3,966
2022	3,966
2023	3,961
2024	3,870
2025	3,845
Thereafter	25,373
Total expected future amortization	$ 46,965

Significant Agreements and Co_2

Significant Agreements and Contracts - Acquisition of Semnur Pharmaceuticals - Additional Information (Details) - Semnur - USD ($)	Mar. 18, 2019	Mar. 31, 2019	Jun. 30, 2020
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Consideration transferred		$ 70,000,000
Cash consideration		15,000,000
Stock consideration value	$ 55,000,000	55,000,000
Asset acquisition, transaction costs		3,100,000
Asset acquisition, liabilities assumed		4,200,000
Eligible percentage of equity interest acquired by third party to exchange share	100.00%
Share exchange period	60 days
Trailing volume weighted average share price, term	30 days
Stock consideration value per share (usd per share)	$ 5.55
Contingent consideration, liability			$ 0
Acquired in-process research and development			$ 75,300,000
Milestones Achievement
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Additional cash consideration upon certain milestones		280,000,000
New Drug Application, First Approval
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Asset acquisition, contingent consideration arrangements		40,000,000
Cumulative Net Sales, $100 million
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Asset acquisition, contingent consideration arrangements		20,000,000
Asset acquisition, contingent consideration arrangements, cumulative net sales threshold		100,000,000
Cumulative Net Sales, $250 million
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Asset acquisition, contingent consideration arrangements		20,000,000
Asset acquisition, contingent consideration arrangements, cumulative net sales threshold		250,000,000
Cumulative Net Sales, $500 million
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Asset acquisition, contingent consideration arrangements		50,000,000
Asset acquisition, contingent consideration arrangements, cumulative net sales threshold		500,000,000
Cumulative Net Sales, $750 million
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Asset acquisition, contingent consideration arrangements		150,000,000
Asset acquisition, contingent consideration arrangements, cumulative net sales threshold		$ 750,000,000

Significant Agreements and Co_3

Significant Agreements and Contracts - License Agreement with NantCell - Additional Information (Details) - Nant Cell - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2015	Jun. 30, 2020
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Upfront payment received from customers	$ 10
Common stock received (in shares)	10,000,000
Vested equity received	$ 100
Cost-method investments, aggregate carrying amount		$ 100
Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Royalty rate percent of net sales	(5.00%)

Debt - 2018 Purchase Agreement

Debt - 2018 Purchase Agreement and Indenture for Scilex - Additional Information (Details) - Senior Notes - Scilex Pharmaceuticals, Inc - Senior Secured Notes, Due 2026 - USD ($)	Sep. 07, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Face value of loan	$ 224,000,000	$ 219,153,000		$ 219,153,000		$ 221,666,000
Proceeds from issuance of senior long-term debt	$ 140,000,000
Principal payments				$ 2,500,000	$ 900,000
Debt instrument, interest rate, effective percentage		7.50%		7.50%
Amount of debt discount and debt issuance included in interest expense		$ 2,900,000	$ 4,200,000	$ 5,700,000	$ 8,900,000

Debt - 2018 Purchase Agreemen_2

Debt - 2018 Purchase Agreement and Indenture for Scilex - Schedule of Long-Term Debt and Unamortized Discount Balances (Details) - Senior Secured Notes, Due 2026 - Scilex Pharmaceuticals, Inc - Senior Notes - USD ($)	Jun. 30, 2020	Dec. 31, 2019	Sep. 07, 2018
Debt Instrument [Line Items]
Principal	$ 219,153,000	$ 221,666,000	$ 224,000,000
Unamortized debt discount	(62,465,000)	(67,839,000)
Unamortized debt issuance costs	(4,015,000)	(4,360,000)
Carrying value	152,673,000	149,467,000
Estimated fair value	$ 153,500,000	$ 150,800,000

Debt - Future Minimum Payments

Debt - Future Minimum Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Current portion	$ (19,151)	$ (36,261)
Long-term portion of Scilex Notes	147,027	199,088
Senior Secured Notes, Due 2026 | Scilex Pharmaceuticals, Inc | Senior Notes
Debt Instrument [Line Items]
2020 (Remaining six months)	2,070
2021	9,910
2022	16,094
2023	20,636
2024	22,247
2025	23,287
Thereafter	124,909
Total future minimum payments	219,153
Unamortized debt discount	(62,465)	(67,839)
Unamortized capitalized debt issuance costs	(4,015)
Total Scilex Notes	152,673	$ 149,467
Current portion	(5,646)
Long-term portion of Scilex Notes	$ 147,027

Debt - 2018 Oaktree Term Loan A

Debt - 2018 Oaktree Term Loan Agreement - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	May 31, 2019	Nov. 30, 2018
Debt Instrument [Line Items]
Loss on debt extinguishment	$ (28,294,000)		$ (51,939,000)
Oaktree Capital Management, L.P. | Oaktree Term Loan
Debt Instrument [Line Items]
Face value of loan					$ 20,000,000	$ 100,000,000
Repayments of debt			120,000,000
Debt prepayment costs			9,400,000
Loss on debt extinguishment			51,900,000
Interest expense	900,000	$ 2,700,000	3,000,000	$ 5,000,000
Amount of debt discount and debt issuance included in interest expense	$ 700,000	$ 1,300,000	$ 2,200,000	$ 2,400,000

Stockholders' Equity - Aspire T

Stockholders' Equity - Aspire Transaction - Additional Information (Details) - Aspire Purchase Agreement - USD ($)	1 Months Ended	6 Months Ended
	Feb. 29, 2020	Jun. 30, 2020	Apr. 24, 2020
Class Of Stock [Line Items]
Potential proceeds from issuance, public offering, maximum	$ 75,000,000
Stock issued as commitment fee	897,308
Common stock sold in registered direct offering		33,825,010
Sale of stock proceeds, net		$ 75,000,000
Value of shares available for issuance			$ 75,000,000

Stockholders' Equity - Equity D

Stockholders' Equity - Equity Distribution Agreement - Additional Information (Details) - Distribution Agreement	Apr. 27, 2020USD ($)shares
Class Of Stock [Line Items]
Common stock sold in registered direct offering | shares	2,120,149
Sale of stock proceeds, net	$ 7,400,000
Maximum
Class Of Stock [Line Items]
Proceeds from equity offerings, net of issuance costs	$ 75,000,000

Stockholders' Equity - Sales Ag

Stockholders' Equity - Sales Agreement - Additional Information (Details) - Sales Agreement - USD ($) $ in Millions	Apr. 27, 2020	Aug. 04, 2020	Jun. 30, 2020
Class Of Stock [Line Items]
Proceeds from equity offerings, net of issuance costs	$ 250
Sales agent commission percentage	3.00%
Common stock sold in registered direct offering			11,262,597
Sale of stock proceeds, net			$ 62.7
Subsequent Event
Class Of Stock [Line Items]
Common stock sold in registered direct offering		5,361,218
Sale of stock proceeds, net		$ 47.1

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Purchase Agreement - Additional Information (Details) - Purchase Agreement - USD ($)	Apr. 27, 2020	Jul. 31, 2020	Jun. 30, 2020
Class Of Stock [Line Items]
Potential proceeds from issuance, public offering, maximum	$ 250,000,000
Number of maximum shares available to direct for purchase per business day	650,000
Number of maximum shares available to direct for purchase per business day, optional increased amount	3,600,000
Maximum consideration available to direct for purchase per business day	$ 5,000,000
Maximum percent of trading price for daily volume-weighted average purchase notice	97.50%
Common stock sold in registered direct offering			923,077
Sale of stock proceeds, net			$ 4,300,000
Subsequent Event
Class Of Stock [Line Items]
Common stock sold in registered direct offering		500,000
Sale of stock proceeds, net		$ 3,700,000

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)
Options Outstanding
Options Outstanding beginning balance (in shares) | shares	14,586,661
Options Granted (in shares) | shares	5,359,500
Options Canceled (in shares) | shares	(2,163,493)
Options Exercised (in shares) | shares	(925,945)
Options Outstanding ending balance (in shares) | shares	16,856,723
Weighted-Average Exercise Price
Weighted Average Exercise Price, beginning balance (USD per share) | $ / shares	$ 4.36
Weighted Average Exercise Price, Options Granted (USD per share) | $ / shares	4.69
Weighted Average Exercise Price, Options Canceled (USD per share) | $ / shares	4.23
Weighted Average Exercise Price, Options Exercised (USD per share) | $ / shares	4.17
Weighted Average Exercise Price, ending balance (USD per share) | $ / shares	$ 4.50
Aggregate Intrinsic Value | $	$ 34,748	$ 5,136

Stock Based Compensation - Su_2

Stock Based Compensation - Summary of Estimated Fair Value of Stock Option Grant Determined on Grant Date Using black-Scholes Valuation Model (Details) - Employee Stock Option - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average grant date fair value	$ 3.69	$ 3.05
Volatility	103.00%	100.00%
Risk-free interest rate	0.46%	1.87%
Expected life of options (years)	5 years 8 months 12 days	6 years 1 month 6 days

Stock Based Compensation - 2019

Stock Based Compensation - 2019 Stock Incentive Plan - Additional Information (Details) - 2019 Stock Incentive Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 2.1	$ 2.1	$ 4.1	$ 3.7
Unrecognized compensation cost related to unvested stock option grants	$ 34		$ 34
Period for recognized compensation cost	3 years 1 month 6 days

Stock Based Compensation - Scil

Stock Based Compensation - Scilex Holding Company - Additional Information (Details) - Scilex Holding Company - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 1.3	$ 0.8	$ 2.9	$ 0.9
Unrecognized compensation cost related to unvested stock option grants	$ 12.9		$ 12.9
Period for recognized compensation cost	2 years 8 months 12 days

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - NANTibody $ in Thousands	Apr. 03, 2019USD ($)
Other Commitments [Line Items]
Damages sought to restore equity method investment	$ 40,000
Damages sought	$ 90,050

Commitments and Contingencies_2

Commitments and Contingencies - Operating Leases - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020
Minimum
Lessee, Lease, Description [Line Items]
Operating lease remaining lease terms	4 months 24 days
Maximum
Lessee, Lease, Description [Line Items]
Operating lease remaining lease terms	9 years 4 months 24 days
Operating lease option to extend, period	5 years

Commitments and Contingencies_3

Commitments and Contingencies - Supplemental Quantitative Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Operating cash flows used for operating leases	$ 2,487	$ 1,867	$ 4,896	$ 3,399
ROU assets obtained in exchange for new and amended operating lease liabilities		4,447	795	4,747
Operating lease expense	$ 2,533	$ 2,700	$ 5,072	$ 5,000
Weighted average remaining lease term in years	8 years 10 months 24 days	9 years 10 months 24 days	8 years 10 months 24 days	9 years 10 months 24 days
Weighted average discount rate	12.20%	12.20%	12.20%	12.20%

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Operating Lease Liability Maturities (Details) $ in Thousands	Jun. 30, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
2020 (Remaining six months)	$ 4,993
2021	9,710
2022	9,764
2023	9,993
2024	10,117
2025	9,579
Thereafter	43,174
Total lease payments	97,330
Less imputed interest	(42,670)
Total lease liabilities as of June 30, 2020	$ 54,660

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax [Line Items]
CARES act of 2020, percentage of alternative minimum tax credit refundable	100.00%
CARES act of 2020, income tax benefit				$ (100)
Income tax benefit		$ 1,919	$ 383	$ 2,195	$ 561
Effective income tax rate		2.30%	0.54%	1.50%	0.26%
Expected statutory federal tax rate				21.00%
Taxable Years Beginning After January 1, 2021
Income Tax [Line Items]
CARES act of 2020, percentage of net operating loss carryforwards	100.00%
Taxable Years Beginning After December 31, 2020
Income Tax [Line Items]
CARES act of 2020, percentage of net operating loss carryforwards	80.00%

Related Party Agreements - Addi

Related Party Agreements - Additional Information (Details) - Itochu $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Affiliated Entity
Related Party Transaction [Line Items]
Purchases from related party	$ 0.7
Scilex Pharmaceuticals, Inc | Itochu
Related Party Transaction [Line Items]
Noncontrolling interest ownership percentage	14.70%

Loss Per Share - Reconciliation

Loss Per Share - Reconciliation of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator
Net loss attributable to Sorrento	$ (77,740)	$ (56,762)	$ (142,935)	$ (164,833)
Net loss attributable to Semnur holders of Scilex Holding		(6,093)		(28,824)
Net loss used for diluted earnings per share	$ (77,740)	$ (62,855)	$ (142,935)	$ (193,657)
Denominator for Basic Loss Per Share	216,956	122,549	199,782	122,415
Potentially dilutive shares of Sorrento common stock issuable upon Semnur Share Exchange		9,910		5,717
Denominator for Diluted Loss Per Share	216,956	132,459	199,782	128,132
Basic Loss Per Share	$ (0.36)	$ (0.46)	$ (0.72)	$ (1.35)
Diluted Loss Per Share	$ (0.36)	$ (0.47)	$ (0.72)	$ (1.51)

Loss Per Share - Additional Inf

Loss Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS (in shares)		11.5	9.7
Warrant
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS (in shares)		41.1	10.7
Semnur
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS (in shares)	9.8	9.8

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segment Information - Summary o

Segment Information - Summary of Information by Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
External revenues	$ 9,007	$ 6,477	$ 16,728	$ 12,620
Operating expenses	56,735	56,838	107,619	186,151
Operating loss	(47,728)	(50,361)	(90,891)	(173,531)
Unrestricted cash	24,388	61,385	24,388	61,385	$ 22,521
Sorrento Therapeutics
Segment Reporting Information [Line Items]
External revenues	3,258	1,817	5,767	5,101
Operating expenses	41,443	36,299	74,691	71,431
Operating loss	(38,185)	(34,482)	(68,924)	(66,330)
Unrestricted cash	17,251	31,986	17,251	31,986
Scilex
Segment Reporting Information [Line Items]
External revenues	5,749	4,660	10,961	7,519
Operating expenses	15,292	20,539	32,928	114,720
Operating loss	(9,543)	(15,879)	(21,967)	(107,201)
Unrestricted cash	$ 7,137	$ 29,399	$ 7,137	$ 29,399

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - Subsequent Event $ in Millions	1 Months Ended
	Jul. 31, 2020USD ($)
ACEA Therapeutics, Inc | License Agreement
Subsequent Event [Line Items]
Up-front licensee fee	$ 15
Up-front license fee payable within ten business days	5
Up-front license fee payable within thirty business days	10
Columbia License Agreement
Subsequent Event [Line Items]
Up-front license fee payable within ten business days	5
Minimum annual royalty payments	$ 1
Minimum | ACEA Therapeutics, Inc | License Agreement
Subsequent Event [Line Items]
Percentage of upfront payment or milestone payment comprised of common stock	50.00%