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Segment Information (Tables)
6 Months Ended
Jun. 30, 2023
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, 2023 and 2022 (in thousands):

 

 

 

Three Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

 

Sorrento
Therapeutics

 

 

Scilex

 

 

Total

 

 

Sorrento
Therapeutics

 

 

Scilex

 

 

Total

 

External revenues

 

$

2,443

 

 

$

12,582

 

 

$

15,025

 

 

$

3,535

 

 

$

7,926

 

 

$

11,461

 

Operating expenses

 

 

56,861

 

 

 

35,397

 

 

 

92,258

 

 

 

109,709

 

 

 

20,113

 

 

 

129,822

 

Operating loss

 

 

(54,418

)

 

 

(22,815

)

 

 

(77,233

)

 

 

(106,174

)

 

 

(12,187

)

 

 

(118,361

)

Unrestricted cash

 

 

34,572

 

 

 

35,177

 

 

 

69,749

 

 

 

63,470

 

 

 

6,875

 

 

 

70,345

 

 

 

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

(in thousands)

 

Sorrento
Therapeutics

 

 

Scilex

 

 

Total

 

 

Sorrento
Therapeutics

 

 

Scilex

 

 

Total

 

External revenues

 

$

8,112

 

 

$

23,164

 

 

$

31,276

 

 

$

15,107

 

 

$

14,738

 

 

$

29,845

 

Operating expenses

 

 

144,796

 

 

 

70,055

 

 

 

214,851

 

 

 

219,359

 

 

 

35,730

 

 

 

255,089

 

Operating loss

 

 

(136,684

)

 

 

(46,891

)

 

 

(183,575

)

 

 

(204,252

)

 

 

(20,992

)

 

 

(225,244

)

Unrestricted cash

 

 

34,572

 

 

 

35,177

 

 

 

69,749

 

 

 

63,470

 

 

 

6,875

 

 

 

70,345