Why Sorrento Therapeutics Stock Shot 7% Higher Today

What happened

A rising stock price is the cure for any investor’s glum mood. Sorrento Therapeutics (SRNE 7.29%) provided a big dose of this on Monday; its shares gained over 7% thanks to encouraging news from the laboratory about the company’s coronavirus drug candidate.

So what

That morning, Sorrento reported that it has reached full enrollment for its phase 1 study of that drug, Covishield. All told, 24 healthy recipients will be administered the drug, in the form of a…

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