Sorrento sank 14% in extended market trading after the biotech company announced the ousting of its chief financial officer Jiong Shao.The stock plunged to $10.62 in the after-market session after Sorrento (SRNE) said in a SEC filing that Shao’s employment “terminated in its entirety”, effective immediately. Shao served as the company’s Executive Vice President and CFO.Sorrento announced the appointment of Najjam Asghar, 39, as the company’s CFO effective from Aug. 18. Asghar will serve as the company’s principal financial officer and principal accounting officer until a successor will be found. Asghar has been Sorrento’s Chief Accounting Officer since June 2019.The …read more
Source:: Yahoo Finance
