Here's Why Sorrento Therapeutics Dropped 16.6% Today
After jumping as much as 282% from Thursday's closing price to the high yesterday, Sorrento Therapeutics (NASDAQ: SRNE) dropped 16.6% on Tuesday on no apparent news -- other than, of course, that the biotech had jumped a 282% in less than two trading days, followed by a dose of reality as it closed down yesterday and down even more today.
On Friday, shares of the company more than doubled as Sorrento reported that it had found an antibody, STI-1499, capable of binding and neutralizing the coronavirus that causes COVID-19.
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Source Fool.com
