Sorrento Stock Is Dashing Towards a Brighter Future, Says Analyst

The coronavirus has thrust many previously unknown pharma companies into the spotlight. You can certainly place Sorrento Therapeutics (SRNE) on this list. The company’s unique approach to fighting COVID-19 has resulted in sky scraping surges, yet it hasn’t all been plain sailing. The Yale School of Public has recently won an FDA emergency approval for its saliva-based diagnostic test, which puts it ahead of Sorrento’s COVI-TRACE. Adding more fuel to fire, Sorrento announced the ousting of its chief financial officer. In reaction, investors got cold feet, sending shares tumbling nearly 35% in the past two weeks. Sorrento’s playbook for fighting …read more

Source:: Yahoo Finance

      

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