Why Sorrento Therapeutics Stock Bolted Higher in September

Shares of the clinical-stage biotech Sorrento Therapeutics (NASDAQ: SRNE) gained a whopping 46.1% during the month of September, according to data provided by S&P Global Market Intelligence. For comparison, the iShares Nasdaq Biotechnology ETF gained only 1.8% last month. 

Why did Sorrento's stock crush the broader biotech industry over the course of September? Investors seemingly piled into this developmental biotech for two underlying reasons:

Image source: Getty Images.

Continue reading

Source Fool.com