On August 17, 2020, Jiong Shao's employment with Sorrento Therapeutics, Inc. terminated in its entirety, effective immediately. Mr. Shao previously served as the Company's Executive Vice President and Chief Financial Officer. Effective August 18, 2020, the Company appointed Najjam Asghar, age 39, as the Company's Chief Financial Officer. Upon commencement of his appointment, Mr. Asghar assumed the duties of the Company's principal financial officer and principal accounting officer until such time as his successor is appointed, or until his earlier resignation or removal.