FORM 4
☐ Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Ji Henry		 2. Issuer Name and Ticker or Trading Symbol

Sorrento Therapeutics, Inc. [ SRNEQ ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
See Remarks
(Last)          (First)          (Middle)

C/O SORRENTO THERAPEUTICS, INC., 4955 DIRECTORS PLACE		 3. Date of Earliest Transaction (MM/DD/YYYY)

3/17/2023
(Street)

SAN DIEGO, CA 92121		 4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
 6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)        (State)        (Zip)
Rule 10b5-1(c) Transaction Indication
☐ Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 3/17/2023  X(1)(2)  19500 A$0.8027 20000 I By BioVintage, Inc. 
Common Stock         6265805 D  
Common Stock         2271693 I See Footnote (3)
Common Stock         40000 I By spouse 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)		8. Price of Derivative Security
(Instr. 5)		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Put Option (obligation to buy) $0.8027 3/17/2023  D     195  8/26/2022 3/17/2023 Common Stock 19500 $0.00 0 I By BioVintage, Inc. 
Explanation of Responses:
(1) On December 30, 2022, the Issuer's Board of Directors declared a stock dividend (the "Dividend") to all holders of record of its common stock as of the close of business on January 9, 2023, of 0.1410127 of a share of common stock, par value $0.0001 per share, of Scilex Holding Company ("Scilex Common Stock") for each one share of common stock, par value $0.0001 per share, of the Issuer ("Sorrento Common Stock"). The Put Option written by the Reporting Person on August 26, 2022 (the "Put Option") was previously reported at an exercise price of $5.50 per share of Sorrento Common Stock, which was adjusted as a result of the Dividend to relate to an aggregate of 19,500 shares of Sorrento Common Stock and 2,730 shares of Scilex Common Stock and to reflect a corresponding change to the exercise price of the Put Option to $0.80268 per share of Sorrento Common Stock and $8.6002 per share of Scilex Common Stock. The Put Option settled on March 17, 2023 and resulted in the Reporting Person
(2) (Continued Footnote 1) acquiring 19,500 shares of Sorrento Common Stock at a price of $0.80268 per share of Sorrento Common Stock, in addition to 2,730 shares of Scilex Common Stock at a price of $8.6002 per share of Scilex Common Stock.
(3) Shares are held in family trusts of which the Reporting Person is a co-trustee with his spouse.

Remarks:
President, CEO and Chairman of the Board of Directors

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Ji Henry
C/O SORRENTO THERAPEUTICS, INC.
4955 DIRECTORS PLACE
SAN DIEGO, CA 92121		X
See Remarks
Signatures
/s/ Henry Ji, Ph.D.3/20/2023
**Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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