Sorrento Therapeutics Inc. announced that the underwriters of its previously announced public offering of 4,765,000 shares of its common stock have exercised in full their option to purchase an additional 714,750 shares of common stock from the company at $5.25 per share.

According to Sorrento (NASDAQ: SRNE), that brings total gross proceeds from this offering to approximately $28,768,000 before deducting underwriting discounts and commissions and other offering expenses payable by the company. The offering of these additional shares is expected to close on or about June 16, subject to customary closing conditions

Sorrento is an oncology company developing new treatments for cancer and associated pain.