Is Sorrento Therapeutics (SRNE) the Next Biotech Stock To Move Up?

After having fallen by 50% over the past two months, the Sorrento Therapeutics (NASDAQ: SRNE) stock has come back in action this morning and surged by 8% from Tuesday’s low.

Is Sorrento Therapeutics (SRNE) the Next Biotech Stock To Move Up?

On Tuesday, the company announced the details of the data with regards to the Phase 1b study of the product COVI-MSC in patients suffering from severe respiratory failure brought about by COVID 19. In an important development for Sorrento, the study showed that the product managed to meet its primary objective of displaying the safety of infusing the product on to patients suffering from acute respiratory failure from COVID 19.

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The company also announced that the product had been infused to a total of 10 patients and all had been successfully discharged three days after their final infusion. It should be noted that the patients had needed supplementary oxygen and also had other co-morbidities like obesity. Following this breakthrough, investors could add the Sorrento stock to their watch lists and keep an eye on it.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.