Sorrento Therapeutics (SRNE) stock grows by 1.60% from the previous day, climbing to $8.87. The predicted pre-market stock is at $9.26, marking a 4.40% increase. The graph of the stock dynamics shows SRNE stock gradually growing over the 5-day period. The rise occurs from $8.24 to $8.87 that concludes a growth of 7.6%. Throughout the month the stock shoots up by more than 27%.
Sorrento is a clinical-stage biopharmaceutical startup focused on antibody-based therapeutics for cancer and COVID-19. Much of it stems from Sorrento’s extensive research on coronavirus illness diagnostics and treatment in 2019. The company has 11 COVID-19 initiatives in various phases of clinical or regulatory approval, with testing taking precedence.
In June 2020, Sorrento submitted an emergency-use permission (EUA) request for its COVI-TRACK antibody test, as well as its COVI-STIX fast COVID-19 test, all of which were approved in. The company recently received a permit ion for a Large Phase 2 efficiency investigation. These tests might provide a $1 billion yearly sales potential for Sorrento in the near future.